Thursday, March 10, 2022

What is a Common Trust?

There’s no doubt that having kids can be financially taxing. However, it’s important to note that not all children cost you the same amount of money. When you have multiple children, you likely want to ensure that your kids feel as though they are treated fairly and equally. For that reason, you may be thinking about splitting your property to be divided equally among them. But as mentioned, different children have different financial needs at different points in time.
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Thursday, September 23, 2021

What Happens if a Trustee Refuses to Give a Beneficiary Money?

When someone sets up a trust, they appoint at least one trustee. The trustee is responsible for managing the assets of the trust for the benefit of the trust’s beneficiaries.
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Thursday, May 27, 2021

New Parents Should Consider a Trust

Learning that you are expecting a child whether through childbirth, adoption, or surrogacy, can be extremely exciting but overwhelming. There are so many decisions to make before your child’s arrival. But while you may be thinking about names, birth plans, and nursery color schemes, you may also want to give significant thought to updating (or creating) your Read more . . .

Monday, April 26, 2021

6 Tips for Naming Your Trust

It may not seem like a very big decision, but what you choose to name your trust can be extremely important. Trusts differ from other legal entities in that there are no laws that govern what you must name them. In other words, the creator of a trust has free reign to name it whatever he or she chooses. While this may seem like a much easier situation, what you name your trust can have a big impact on the laws that govern the entity itself.

There is no approval process for the naming of a trust, but banks, real estate title insurance companies, and other similar entities must know the name of the trust in order to adequately file and find related legal documents.
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Friday, February 12, 2021

Statutes of Limitations in Your Trust Lawsuit

If you wish to file a lawsuit regarding your inheritance under a will or trust, California requires that you follow specific deadlines known as “statutes of limitation.” These are laws that set a time limit on the time by which you must bring a specific type of legal action or else you automatically forfeit the right to do so.
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Monday, November 16, 2020

The Difficulty with Contesting a Trust in California

Trusts are created with the intent to hold certain things to specific people or entities for a period of time. In the state of California, trusts are initially presumed to be valid, but sometimes people may challenge or contest them for various reasons.
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Monday, May 11, 2020

How Do You Revoke A Revocable Trust?

A revocable trust is a legal document that allows the person who creates it, known as the grantor, to manage its assets and to maintain the right to alter the trust or its beneficiaries at any time during his or her life. This “living” trust (as it’s often called) is commonly leveraged in order to transfer assets to the trust’s heirs in order to avoid the probate process, which can be long and costly.
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Monday, April 13, 2020

What Happens When a Will and a Trust Contradict?

You have probably heard a lot about both wills and trusts. While they are separate legal documents, they are both used to help create a comprehensive estate plan.
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Tuesday, January 7, 2020

What to Know About Living Trusts

When a loved one passes away, the oft-drawn out probate process commonly results in increased expenses. This is the last thing that you want your heirs to go through when they are grieving such a loss. To contend with these issues, living trusts are often created.

A living trust is a legal document, often used as part of a comprehensive estate plan, that allows you to assign ownership of your assets to the people you so choose. A trustee, who you will assign, is tasked with overseeing the distribution process and ensuring that your wishes are properly carried out.
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Wednesday, October 9, 2019

What Is a Special Needs Trust?

We execute estate plans so that during our lifetime and upon our incapacitation or death we can best provide for our loved ones and ourselves. A big reason for this is to be sure that we can provide for our loved ones after we have gone. This is even more important when we have a child or loved one who is disabled. 

The government treats all individuals with disabilities as adults once they turn 18. However, an individual who becomes disabled prior to the age of 22 is entitled to receive Social Security Income (SSI) benefits as long as the worth of their assets remains under $2,000 and their income remains lower than the amount of money they would receive in SSI benefits.
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Saturday, November 3, 2018

The Princess and the Trust

 Q: Can a trustee be removed due to lack of mental capacity?

Historically, princesses have been portrayed as being surrounded by riches and being accustomed to having their own way. But estate planning attorneys can tell you, they are subject to the same rules as everyone else when it comes to their trusts and estates.

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