The living trust has become a popular estate planning vehicle for many California residents. A trust is a legal arrangement in which property is transferred to a trustee, who manages the property for the benefit of the persons named as beneficiaries in the trust...
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Trusts
What are the advantages of a special needs trust in California?
The basic concept of a trust is very versatile and can be adapted to accomplish a number of goals. One of the most useful forms of trust for California residents is the special needs trust, which is designed to provide for the supplemental needs of a disabled person...
Multi-generational estate plans present interesting challenges
People in California often want to plan for their own financial future as well as those of their living heirs, but those with significant assets may have an interest in thinking even further into the future. California residents who want to share their wealth with...
Dean Smith uses trust to his heirs’ advantage
College basketball fans in California may have heard about the passing of legendary North Carolina basketball coach Dean Smith earlier this year. His legacy as one of college basketball's greatest coaches was cemented, but after his death, tales of his generosity also...
The basics of trust administration aren’t always so basic
People with substantial estates want to ensure that their money is going to the people and causes they love and support after they die. Most people want assurance that their money isn't going to disappear into the coffers of an overreaching government when they die,...
Should I consider establishing a living trust?
People in California who have questions about estate planning issues may want to start with the basics. While every person should have a will as well as a health care directive in place, some people may also benefit from setting up a living trust.A living trust covers...
Domestic partners may benefit from estate planning
California is one of a handful of states across the country that recognize the rights of same-sex couples, but for people who are in domestic partnerships in California, the fact is that they still face some unique challenges when it comes to transferring assets,...
Leaving an IRA for an heir can be complex
People in California may have seen a recent article about the issues involved in leaving an IRA to a person other than a spouse. For many people, an IRA or other retirement account is among their largest and most valuable assets, so it makes sense that people would...
What a trust can do for you
California residents may have seen the recent blog post regarding the California statutory will, which is the most basic, fill-in-the-blanks will that a person with few estate planning needs can use. While this will could actually be useful in a pinch, it provides...
Repairing a trust may be a better alternative to starting over
When something is broken, the solution most people in California think of is fixing it. When a car breaks down, most people take it to the auto shop. When an appliance stops running, most people call a professional to come take a closer look. Very rarely is the best...