Does life insurance need to go through probate?
When an estate goes through probate, assets are passed down to beneficiaries. If someone does not have an estate plan, then state law will dictate who should receive those assets, generally focusing on next of kin. If the person does have an estate plan, they can choose any beneficiaries they would like, and the estate […]
When a trustee engages in self-dealing
A trustee’s obligations may include long-term asset management. They may need to maintain real property, help run a business or make decisions about investment resources. Generally speaking, trustees must act in the best interests of beneficiaries to uphold their fiduciary duty. Limiting unnecessary expenses and maintaining the value of trust resources are both important for […]
Disinherited spouses in California can ask the courts for help
An inheritance can provide reminders of a person who has passed. These reminders can provide comfort. Yet, sometimes, reviewing a will or other estate planning documents can worsen the pain caused by a loved one’s passing. Spouses who spent decades in a marriage sometimes discover that their lifelong partner disinherited them, either by choosing to […]
When a trustee undervalues critical trust resources
Trustees must manage resources according to the instructions provided by a trustor. They may need to distribute resources to beneficiaries and make decisions about the management of key assets to preserve their value. In some cases, they may end up accused of mismanagement if their choices diminish the value of the trust. Communications from a […]
Who addresses creditor claims against an estate?
When someone passes away, creditors may make claims against the estate, seeking payment for money that is still owed. A simple example would be outstanding credit card debt that was never fully paid off. But creditor claims can also involve mortgage loans, car loans or even unpaid tax debt owed to the government. Generally speaking, […]
Signs that a caregiver or relative may have influenced a will
For a family that is already grieving, few things can create more tension than discovering a loved one’s will has changed unexpectedly before their death. Sometimes, those changes truly do reflect a person’s wishes. But, in some cases, those changes may have resulted from undue influence. If you suspect your loved one was pressured into […]
How undue influence can affect a will or trust
When a person creates their estate plan, everything in the plan should be based on their wishes. Most people are able to do this without anyone trying to influence them, but there are times when someone close to them may try to sway their thinking. Wills and trusts can be disputed if there’s evidence that […]
When a trustee fails to provide an annual trust report
Many trusts include terms that allow them to remain in effect for years, if not decades. Trustees must manage resources, make appropriate distributions and communicate with beneficiaries as necessary. They have a duty to act in the best interests of beneficiaries, which requires that they carefully manage trust resources. In some cases, beneficiaries may start […]
Who has standing to challenge a will?
Not just anyone can challenge a will. They must have proper legal standing and a vested interest in the estate plan. In other words, they need to be affected in some way to have the legal grounds to challenge the details of the plan. Generally, these individuals fall into four categories: Family members – Often […]
What is fiduciary duty for an estate executor?
In a general sense, if someone has a fiduciary duty to another, it means they are expected to act in the best interests of the other party. They are not supposed to focus on their own needs or desires but must take steps to uphold the other party’s rights. In the estate planning and probate […]