A: An amendment only changes particular sections of the trust while keeping everything else the same. A restatement, on the other hand, changes the ENTIRE trust content from beginning to end.
A: It depends. Under California law, the inheritance is initially considered separate property and would not be subject to an equal split in the event of a divorce. However, if you commingle the money by using it to create a joint bank account, a joint property or any...
A: Yes! As an unmarried couple, it is important for you and your partner to each create an estate plan because the law does not grant unmarried couples who are not legally registered domestic partners the right to inherit from their partner's estate or priority in...
A: Yes! As an unmarried couple, it is important for you and your partner to each create an estate plan because the law does not grant unmarried couples who are not legally registered domestic partners the right to inherit from their partner's estate or priority in...
A: Absolutely! In California, a living trust is vital for those without direct heirs to bypass the probate process, ensuring assets like real estate or businesses are efficiently transferred to chosen beneficiaries. It's an effective way to control your estate's...
A: Imagine your trust as a storyline shared with your heirs and beneficiaries. With a complete restatement of your trust, only the latest version—your final narrative—gets shared after you're gone, ensuring a single, streamlined story. This approach contrasts sharply...
A: You're in luck! California's Revocable Transfer on Death Deed (RTODD) offers a cost-effective shortcut to leave your home directly to your heirs, bypassing the expensive and lengthy probate process. Depending on the individual circumstances of each client, this...
A: This is a common concern and it can be addressed well with proper estate planning. When you and your spouse create a trust, you will choose at what age or ages your child will receive the assets of the trust after you have passed away. You will also nominate a...
A: Yes you do! And more importantly, without a trust, the probate laws of California would not only consider you the owner of the property at your death, but would also charge your heirs probate fees based on the fair market value of the home and NOT on the amount of...
A: Yes - chocolates and an estate plan! Creating a comprehensive estate plan will give you and your spouse peace of mind regarding your end of life wishes and avoid the expense of probate or emergency planning in the future. Happy Valentine's Day!
