When trustees breach their duties
In California, trustees are given different types of duties that they’re obligated to fulfill. These duties are to look out for the best interest of the grantor in various aspects, including financial responsibility. When the trustee does not fulfill their duty, it’s considered a breach. Understanding a fiduciary relationship A fiduciary relationship is created when […]
Pros and cons of creating an irrevocable trust
Estate planning is important for virtually every person in California who has reached adulthood. This particularly is true if a person has started a family or has recently gotten married. When it comes to estate planning, with an eye ultimately to estate administration, there are a variety of factors that come into play. These include […]
Using TOD accounts to avoid probate court
Transfer-on-death accounts are allowed in many states, including California. Using these accounts can make it possible for the loved ones of deceased individuals to avoid probate court. Understanding how TODs work and what benefits they offer can help families make estate plans that work best for them. What is a TOD? Transfer-on-death accounts are not […]
Understanding testamentary trusts
Most people in California who are thinking about undergoing the estate planning process have many questions regarding the different documents. Some of the most commonly discussed documents are wills and trusts. One very beneficial type of structure to set up is a testamentary trust. What is a testamentary trust? Estate administration experts recommend organizing a […]
Is contesting a will the right choice for you?
California residents who are left out of the will of a family member may find themselves distraught. Whether you were told you would be included in the will or it was just assumed that you would be, it can be a surprise to find out that you weren’t. It’s important to assess your individual situation […]
Can an executor be removed from a will?
Throughout the estate planning process in the state of California, you need to specify an executor for your estate. This executor will be responsible for carrying out the terms specified in your will, such as taking the will to probate court, liquidating assets if necessary and distributing any remaining assets to your named beneficiaries. As […]
What are the responsibilities of an estate’s executor?
After the death of a loved one, you might receive designation to be the executor of this person’s estate. If you’ve been appointed to the role of an executor in California, it’s understandable to wonder what comes next. Here are three important responsibilities you’ll have as an estate executor. Selling the house One of your […]
Does every asset have to go through probate?
No matter how you arrange your estate, you might not be able to avoid probate for your loved ones in California. However, probate isn’t necessarily a bad thing. During the probate process, a judge will make sure that your assets are distributed according to your wishes. What are some assets that have to go through […]
Is a trust really completely irrevocabel?
When you set up a California trust, you get even more protection when it is irrevocable. This largely separates you from legal ownership of the assets for items such as Medicaid trusts. However, irrevocable usually means that the trust’s terms cannot be changed, and the assets cannot be removed. Yet, there are some circumstances in […]
Which estates need a formal probate process?
Probate refers to a legal process followed when settling the estate of a person when they die. During the process, the court appoints a representative whose role is to distribute the property to the descendants according to the law. In California, the personal representative can hire an attorney for guidance during the complex process. Here […]