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 […]
What happens to the debts owed by a relative who has died?
Many California residents have debts they owe to creditors. In some cases, a person might die before they’ve paid back their creditors. It’s fair to wonder what happens with those debts if you are a relative of the deceased. Does debt go away when a person dies? If a person dies while in debt, it […]
Paying estate taxes
In the state, the authority of an executor is specified by a court or any wishes the deceased involved had. Estate administration and probate in California may end with an executor that the estate’s owner didn’t choose. Whether appointed by a judge or the deceased, an executor is accountable to very specific work. They must […]
Why every asset isn’t for your trust
With a living trust, you have the right to put away assets like stocks, real estate, certificates of deposits and bank accounts. You have a fair amount of flexibility when planning your estate in California, but there are some things you shouldn’t do. When managing a living trust, strive for a strategic understanding of what […]
Differences between spendthrift and asset protection trusts
No one is perfect, so you may need provisions in place to protect your assets from your children. Ensuring that an estate is administered in a successful, profitable way calls for a clear plan. Estate administration and probate in California are necessary if you don’t have asset protection or spendthrift trust. Just don’t fall into […]
How to dissolve a trust
If you own a home, business or other assets, California law generally allows you to keep them in a trust. A trust may allow you to protect items from being seized by creditors or in a divorce. In many cases, you can dissolve a trust assuming that you follow the proper protocols to do so. […]
Heirs at law and estate disputes in California
When a loved one dies, it’s likely that their estate will go through the probate process to ensure that the wishes of the deceased get carried out. This can be a difficult process, especially if there are disagreements among the heirs at law about how to divide up the estate. Who are heirs at law? […]
Why are beneficiary claims listed in percentages?
Many different types of investment accounts require you to name at least one beneficiary of your funds in the event of your passing. The same is true of wills created by California residents. Beneficiary designations are typically written in terms of percentages. Here’s why they’re done this way. Percentages make for less work When you […]
What happens to your debts after you pass away?
Although it’s never a pleasant thing to think about, you might wonder what happens to your debt after you die. Debts can be complex, but you don’t want to leave them to your family in California to have to deal with in the event of your passing. When you have the right information, you can […]
The different types of trusts and choosing the right one
If you are creating an estate plan in California, you may want to use one or more trusts. Trusts may be either inter vivos or testamentary, meaning that they are either created during a person’s lifetime or by the person’s will after their death. Living trusts may be revocable or irrevocable. The former can be […]