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...
A: Yes, you must at least make a diligent effort to do so. For example, we send the following message to all of our Successor Trustee clients: "As part of the Trustee’s duty to collect and preserve as many assets as possible on behalf of the Trust, we always recommend...
A: There are several reasons a trust may be attacked or challenged as invalid, including: 1: Mental Incompetence: The grantor lacked the requisite mental capacity 2: Undue Influence: External pressure affected the grantor’s decisions 3: Forgery: The trust document is...
A: Possibly. If you have a claim to an estate or inheritance that is based on a promise or an agreement, then you can file a claim under Civil Procedure Code Section 366.3. However, be aware that the claim must be filed no later than ONE year from your grandfather's...
A: If you die without a will or trust in California, your estate will be distributed according to California's intestacy laws. This typically means that your assets will be divided among your closest relatives, such as your spouse, children, or parents, depending on...
