Biddle Law Estate Planning Blog

You cannot leave money or funds to a pet. Instead, you may want to set up a trust so that your assets or funds can be used for the care of that pet. That way, you know your pet will be cared for, even after you are gone, according to the instructions you have provided in the

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When someone dies, he or she likely needs to wind up his or her financial and legal matters. They rely on others and any plans that they have created before their passing to complete this task.

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Ideally, a loved one will discuss your role as an executor of their estate long before they pass. This candid discussion will allow you to consider the duties and responsibilities of someone acting in this role. That way you can make an informed decision long before it matters for your loved one. However, those who pass may not always have the foresight or time to have this conversation. As a result, you may have an executor assignment that you did not necessarily agree to carry out.

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Small estates do not need to be probated in California. That means that if you can decrease the total value of your property to under $150,000, you can avoid probate in California altogether.

This process is often referred to as “Summary Probate.” The executor of the estate simply has to file an affidavit or declaration 40 days after the date of death has passed. This document will be used to collect the assets of the estate for distribution.

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There are a number of reasons to create a will not the least of which are to protect your assets and provide for your loved ones. Nonetheless, having a will does not necessarily mean your wishes will be carried out. In fact, an estate can be exposed to a will contest if a dispute arises among family members. 
 
While these disputes may arise when assets are not distributed equally among the beneficiaries, particularly adult children, a will can be contested for a number of reasons, including:

• The testator lacked capacity
  
• There was undue influence on the testator
  
• The will was not properly executed
  
• The will was prepared fraudulently 

Avoiding a Will Contest: 101

Although will contests are not uncommon, there are steps you can take to avoid a will contest and intervention by the probate court. One of the common mistakes people make in estate planning is procrastinating, and not preparing a will until their health is failing.
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While advances in medicine allow people to live longer, questions are often raised about life-sustaining treatment terminally ill patients may or may not want to receive. Those who fail to formally declare these wishes in writing to family members and medical professionals run the risk of having the courts make these decisions.

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How do irrevocable trusts fit into my estate plan?

Although many people think that estate planning is only about creating a will, a comprehensive plan considers a number of objectives such as asset protection, avoiding probate, and minimizing estate taxes. One effective tool for achieving these goals is an irrevocable trust.

What is an Irrevocable Trust?

An irrevocable trust becomes effective during a person's lifetime and, unlike a living trust, cannot be amended or modified. In short, the grantor (the person making the trust) permanently relinquishes ownership of property by transferring it into the trust. In this arrangement, a trustee is named to manage the trust assets for the benefit of the beneficiaries.

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How does a personal representative initiate a probate proceeding in California?

If you have been named as a personal representative in a will, you will be responsible for a number of important duties in carrying out the instructions of the deceased. In short, it is necessary to

gather the estate property and transfer it to the beneficiaries through a court-supervised proceeding known as probate.

In order to start the process, you must first obtain Letters Testamentary from the Probate Court in the county in which the deceased person lived. This basically requires submitting the will, the death certificate, and completing a short application which includes a sworn statement that you have been named as the personal representative in the will. The application may also require providing an estimate of the estate's property and debts.

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When someone dies, someone has to administer his or her estate, regardless of whether he or she has a will in place or not. This person will ensure that any final debts and liabilities are paid and that beneficiaries receive what they should based on either the decedent’s will or intestate laws.

Technically speaking, there is little difference between the duties of an executor or an administrator. They will have the same responsibilities, but there are a few differences. The most important differences are how the individual gains his or her role and the “instructions” they must use to go through the

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It’s safe to say that estate planning is about the farthest down on the list of things people want to do in their spare time. Nobody wants to think about what happens when they cease to be a part of this world, and that’s understandable. At the same time, it’s probably accurate to say that when you pass, you want your family to benefit from your hard work and have a legacy to remember you by, without having to go through the hassle of an extensive probate process and legal battles. The best way to show your family that you love and care for them is to ensure that your estate is in order.

A lot of people think that estate plans can be done pretty simply, in a DIY fashion.

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When you create a will, you name an executor to take care of your estate after your pass. This person will be responsible for not only carrying out your wishes as you have laid them out in your will, but he or she is also responsible for settling your debts as well. The duties of an executor or administrator can be somewhat daunting, so it is important to name someone whom you think will be up to the task.

Knowing what this person will do and how they may go about doing it can help you decide who should be your executor. As a potential or acting executor, knowing the basics of your role can go a long way toward completing your duties efficiently and in a way that will satisfy the beneficiaries.

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