A: Fortunately, that is not the case! California recognizes revocation by operation of law. If a testator gets divorced after the will is created, California law automatically revokes any gifts that the were made to the former spouse, unless the will explicitly states...
A: A Heggstad petition is a legal maneuver used in California. If a person dies and leaves behind a trust, yet some of their assets weren't properly transferred into the trust before their death, those assets typically would have to go through probate to be...
A: A list will ensure that your assets are easily transferred and that your family will know exactly what you own so nothing falls through the cracks. The following is an example of 10 common items that are included on an asset list: 1. Insurance and Life Insurance...
A: A trust restatement is essentially an amendment of your entire trust that replaces all of the provisions of your original trust with new provisions to meet your current goals. It is a great option if you have an older trust that needs to be updated, if you have...
A: Although every living person should have a will, by itself it unfortunately does absolutely nothing to help keep your kids out of probate. Having said that, just because you only have a will does not automatically mean your estate will be subject to probate. For...
A: Although Probate Code Section 6122 largely disinherits a former spouse automatically upon entry of a divorce judgment, the same is NOT true while the divorce is in process. Therefore, as soon as possible after the divorce proceedings have been initiated, you should...
A: Yes! Remember, the trust is like a picnic basket that an attorney gives you, and although the attorney will typically transfer business interests and real estate into your trust for you, you will almost always need to personally coordinate with your financial...
A: You should take title to your new home in the same way that you hold title to your current home - as trustee of your trust. This will ensure that your new home is a trust asset and that it is not at risk of going through probate to be administered after your death....
A: Yes and no. First, let’s clarify the difference between a trust amendment and trust funding. An amendment is when you actually change the terms of the trust itself; this may be removing a particular successor trustee, or adding a new beneficiary, for example....
A: Federal estate taxes are currently levied on all estates that exceed $12.92 million in value. Each state also has the right to charge its own estate tax at the state level. Fortunately, the State of California does not have an estate tax separate from the federal...
