A trust is a legal document whereby you transfer ownership of assets to a trust and name someone you have confidence in as the trustee. The trustee manages the trust and makes sure your assets are transferred to your named beneficiaries when you die. There are many types of trusts that serve different purposes. There […]

Creating a will or a trust is a serious matter, and choosing who you appoint to carry out your wishes (the fiduciary) is the most important estate planning decision you’ll make. When you create a will or a trust, you appoint executors, guardians, and trustees, known collectively as fiduciaries. A fiduciary performs specific duties, such […]

Trusts are typically straightforward – they are arrangements in which a third party holds assets on behalf of someone else. A special needs trust is a bit more complex. Also known as a discretionary trust, a special needs trust provides for the needs of a child or adult beneficiary who has a disability. The main […]

In order to understand what a joint will is, it’s essential to start with what a will is. A will is a legal document that sets out how you would like all of your assets and liabilities treated after you pass. It can also create a trust and name a guardian for minor children. A […]

A Revocable Trust is one of many types of trusts.  Each is designed to offer something different. As tools, these legal documents help people preserve their assets in ways that meet the needs of their estates. Trusts can be broken down into two groups: Revocable Trust Irrevocable Trust A revocable trust can be “revoked” – […]

During estate planning or when you write a will, you can grant a person (fiduciary) certain responsibilities – an executor, trustees, and guardians are all examples. Fiduciaries have a significant role in the management of your estate. As such, it is important that these roles be filled by people who can manage their responsibilities so […]

Probate litigation is the process by which the probate court determines the validity of a will, evaluates the assets of an estate, determines liabilities, determines the heirs or beneficiaries and distributes property, should there be assets. Read for further information about what this process entails. The Actions of Probate Litigation When you die, and you […]

Charitable trusts are irrevocable – meaning once they are established the income belongs to the trust and not to the individual. There are benefits to setting up a charitable trust aside from helping an organization or person. Here are a few of the many things to know about charitable trusts in California. 1. Taxed or […]

A Spendthrift Trust is a legal framework that protects the assets within a trust from a potentially irresponsible beneficiary who might harm the trust by overspending or squandering the assets. The spendthrift trust also protects the trust and its assets from creditors of the beneficiary. The creditors are not able to seize the assets of […]

The Three-year rule is part of the IRS tax code that deals with assets, transfers, and estates. The rule places certain assets in the total for the decedents’ gross estate when those assets are transferred within three years of the person’s death. When someone transfers property or assets to another person within three years of […]