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...
A: Yes, but not without an estate plan. Under California’s intestate succession laws (Probate Code §§6400–6414), if you die without estate planning, the State decides who gets your assets. Your long-term partner isn’t on the list—they’re treated as a legal stranger....
A: When you create a trust, you’ll name a successor trustee. This is someone who steps in to administer the trust either because you have become incapacitated or you have passed. This person will manage and distribute your assets according to your wishes, so it’s...
A: Yes, potentially! Starting January 1, 2026, California is reinstating the Medi-Cal asset test for many programs. That means your mom’s eligibility could depend not just on her income, but on what she owns. The rule will limit countable assets to $130,000 for an...
