Can irrevocable trust terms be changed?
Irrevocable trusts are typically recognized in California as long as they are created in accordance with state law. As the name suggests, they generally cannot be changed or revoked after they are executed. However, there are certain circumstances in which this is not necessarily the case. Trust assets are sold or allowed to lapse If […]
Handling probate and long-term healthcare in California
Planning long-term care for yourself or an aging loved one in California can be complicated. In addition to meeting the needs of your loved one, you also must figure out how to deal with the cost. Dangers of using Medicaid coverage Medicaid can help pay the expenses of a nursing home and other long-term care […]
Procrastination can be a problem when it comes to making a will
Anything can happen at a moment’s notice that will change life drastically, and those without an advance directive often leave families in a bad situation following any personal calamity. If you haven’t made a will yet, it’s a good idea to do it so that the California courts aren’t left to make decisions about your […]
Suing the executor of a will
The executor that has been appointed in a California will is in charge of taking care of the testator’s unpaid taxes and other debts, followed by distributing the assets to the correct recipients. However, if an executor makes key errors, they can be potentially liable to be sued individually. Conditions for suing an executor Executors […]
Should you leave your home to your child?
California residents who own homes might want to consider giving those homes to their children. However, there are risks associated with this that should make you think twice. Potential tax issues If you give your child your house and then end up passing away, they might be stuck dealing with a hefty tax bill. Although […]
Challenging a power of attorney
A common document used by many Californians is a power of attorney (POA). This legal document allows the principal to grant authority to another person to make financial and healthcare decisions for them when they become incapacitated and are no longer able to make decisions for themselves. While a power of attorney can offer important […]
How to Transfer Real Estate to a Trust
In California, real property generally must be probated once the owner dies. Many people want to avoid the probate process because of the length of time it takes and the legal expenses involved. One way that people can avoid the probate process when they have real property they would like to pass to their loved […]
Handling sibling inheritance issues
Disputes might arise among siblings who are taken aback by the terms of a will. It’s also common for siblings in California to feel that their assets have been unjustly allocated. What happens during a sibling inheritance case? Inheritances (including money, real estate, and jewels) are usually dispersed to heirs according to the terms of […]
Here’s what happens if you die without a will in California
A will outlines your wishes for how your estate will be managed and distributed after you die. However, if you die without this important document, there can be a crisis for your loved ones as they scramble to manage your estate without any guidance. Understanding intestate succession If you die without a will, it is […]
TOD accounts can be used to avoid probate
When a person dies in California, the probate process can be long and expensive. For that reason, many people look to use legal instruments to pass assets to their heirs outside the reach of probate. One way to do that is to use a transfer on death account, or TOD account. With a TOD account, […]