A: The term “estate planning” refers to the process of anticipating and arranging for the management, disposal and transfer of one’s estate both in the event of a person’s incapacity and also after the person’s death. If you have any questions about this, please feel...
A: You can, but be aware that setting up your trust this way could lead to some seriously unintended negative consequences! For example, if you ever sell one of the properties and then you either forgot to (or were unable to) update your trust thereafter, you will...
A: It depends! If you merely amend that distribution section to eliminate him from your trust, then by law he will be entitled to a copy of both the original trust and the amendment. However, to avoid this scenario, we often counsel clients in similar situations to...
A: No. Unfortunately, despite its potential convenience benefits, the TOD Deed comes with numerous downsides. One of those downsides is that the TOD Deed can only be used to transfer the following types of California real estate: 1: a single-family home or condominium...
A: Unfortunately, Probate Code Section 5302(b)(2) is very clear that in this case, the named beneficiary on the savings account (the girlfriend) will inherit ALL of the sums therein, even if the decedent had a will naming a different beneficiary (the child). Estate...
A: You will most likely not need to appear at hearings. Most courts in California use a tentative ruling system. This means that the day before the hearing on a petition, the court will post its intended ruling on the petition. If the tentative ruling is to grant the...
A: You will need to lodge your mom's will with the court within 30 days of her passing and also file a petition to be formally appointed as the executor of her estate. Although you are named in the will, you will need specific documents from the court in order to take...
A: Your mom and dad should not only create a trust, but should also sign a Community Property Agreement. In California, which is a community property state, confirming their assets as community property could save the surviving spouse as much as six figures in taxes...
A: Fortunately, this CAN be done, and it can even be done privately and without having to go to court. The important thing is that the surviving spouse and ALL of the beneficiaries of the B Trust must sign and notarize an “Agreement of the Beneficiaries” in order to...
A: A life estate deed allows the recipient (the “life tenant”) to live on a given property for the rest of their life. The life estate deed must identify at least two separate parties: one who is the life tenant, and the other who is the “remainderman”, which is the...
