A: Special Needs Trusts are designed to supplement, but not supplant, the means-based government assistance and benefits that your loved one is receiving! The language of the SNT establishes that the trust funds are to be used only for specific purposes to improve the...
A: A conservatorship is a court case wherein a judge appoints an individual or organization (the “conservator”) to care for an adult who cannot safely care for himself or herself or manage his or her own finances. For example, a conservator may be appointed for an...
A: If you get remarried and never update your estate planning documents before your death, the state of California will automatically include your new spouse in your estate plan by default. The Omitted Spouse Statutes (probate code sections 2160, 21611, and 21612)...
A: A Notice of Proposed Action essentially requires a beneficiary to “speak now or forever hold their peace.” California Probate Code sections 16500-16504 permit a trustee to give notice to the beneficiaries of a trust that the trustee intends to take (or not to take)...
The Prop 19 planning really only makes sense if both of the following are true: 1) You have a VERY low property tax bill (relative to current fair market value); and 2) You believe your children will want to hold onto the property after you're gone (rather than sell...
A: Here are some legal essentials that can help protect your growing business: Register your business: Registering your business with the state legitimizes your business for both you and your consumers, gives you the ability to apply for grants and loans, and having...
A: There are three main options for California property owners that have low property tax bases who want to leave the properties to their children. 1: Do nothing. This allows your children to inherit the property and receive a stepped-up basis as of the date of death...
A: The answer depends on how much money was in the account! If the amount is under $166,250, then yes, you can most likely submit to the bank what we call a “Small Estate Affidavit” to collect the proceeds. Remember, if there is a will that states who the account...
A: Here is a helpful checklist of things to stay on top of: 1: Take inventory of your digital assets 2: Add digital heirs to your accounts 3: Plan to pass on your passwords 4: Record your stories - hereafter.ai is a great website to check out to preserve your...
A: We have heard a number of our clients voice this concern over the years, and the short answer is yes, you will have 100% absolute control over all of your decisions, all of your finances, and all of your assets with a revocable trust! A revocable trust means that...
