A: Not usually; most courts in California use a tentative ruling system. Here's what this means: In the days before the hearing on a petition, the court will post its intended ruling on the petition. If the tentative ruling is to grant the petition and no objection is...
A: Any time you open a new bank account that you want to include in your trust, be sure to title the bank account in your name as trustee of your trust. This will ensure that the account is administered as part of your trust estate and that it is not subject to...
A: In community property states like California, when one spouse passes away, the entire value of community property assets—like a home or investments—receives a step-up in basis to the fair market value at that time. This means: - No capital gains tax if the...
A: No. For better or worse, the law does not consider fairness, effort, or even relationships in determining who receives a share of an estate. There are only two possibilities: 1. No estate plan? The California probate code decides who inherits, and how much —this...
A: No - Big changes are coming in 2025! Assembly Bill 2016 is raising the game for estate planning—by a lot! Starting April 2025, the threshold for what qualifies as a "small estate" will leap from $184,500 to $750,000 for primary residences. If your primary residence...
A: No, you're not. While many people choose a family member or close friend who’s also a beneficiary, you can pick anyone you trust and feel is up to the task—whether that’s another family member, a trusted advisor, or even a professional like an attorney or a...
A: Yes, your beneficiaries will inherit the home subject to the mortgage. This means the outstanding balance of the mortgage doesn't go away when you pass away. Instead, the mortgage remains attached to the property, and your beneficiaries will need to continue making...
A: Yes! This is a particularly common scenario when it comes to estate planning attorneys retiring. Many attorneys already have systems and processes in place for this exact situation. A client always has the right to switch attorneys at any time, even if their...
A: You are not legally required to hire an attorney to file for probate and administer an estate, but the probate process can be difficult to navigate without legal advice. There are numerous tasks to complete, notices to provide, court filings, and deadlines. You...
A: Yes, trustees in California are entitled to receive reasonable compensation for the work performed to administer the trust. The amount of compensation is typically determined to be 1% of the value of the trust estate annually, or charged hourly at a reasonable...
