A: It depends! If you feel confident that your children won't feel negatively about the contents of your estate plan, it can be helpful to share your current documents with them so that they know what to do after you've passed. Alternatively, if the distributions to...
A: Absolutely! In fact, it may be more imperative that you have an estate plan in place! 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 being appointed as a...
A: Yes! Estate planning is not only about wealth, but also about control, protection, and reducing headaches for the people you love. You should seriously consider a plan if any of these are true: 1. You have minor children. 2. You own a home or other real estate. 3....
A: A pour-over will is an important piece of your estate plan that acts as a fail-safe. It helps ensure that any assets that are unaccounted for are transferred to your trust after your death without the time and expense of a formal probate.
A: A fiduciary is a person or entity who is trusted to act on behalf of others, and who has a legal responsibility to act in the best interest of the beneficiaries. This includes managing finances, making decisions, and carefully overseeing responsibilities with...
A: Undue Influence or Coercion: Beneficiaries may contest a will or trust if they believe the decedent was manipulated into favoring someone unfairly. Lack of Testamentary Capacity: A will or trust might be contested if there’s doubt that the decedent had the...
A: No, not at all! Since the settlors (the name given to the person that creates the trust) are able to exercise absolute control, dominion and discretion as to all the assets of the trust, no separate EIN will be required, and you will not have to file any separate...
A: Yes! Without a solid estate plan, your intentions won’t matter — only the law will. Working with our attorneys to create an estate plan will help you: Keep inherited assets protected Provide for spouses and children from all family dynamics Prevent future conflict...
A: Yes! In California, two individuals can take title to real property as tenants-in-common, and in whichever percentages the owners agree on. Your sister could own a 30% interest as a tenant-in-common while you own a 70% interest as a tenant-in-common, for instance.
A: Assets you receive as a gift or inheritance typically aren’t taxable income at the federal level (some states have inheritance taxes though). However, if the assets later produce income (perhaps they earn interest or dividends, or you collect rent), that income is...
