Wills & Trusts

Friday, September 1, 2023

Drafting Your Will: Essential Elements and Considerations

Family and community are among life’s greatest joys, and everyone wants to ensure that the people they care about are protected after their death. While it can be intimidating and even painful to think of your loved ones’ lives without you, drafting a will that includes them is the best way to guarantee their future well-being.

Life can be unpredictable.

Read more . . .

Wednesday, September 22, 2021

Top 3 Reasons to Put Your House in a Trust

When you think about putting property in a trust, you may not think about placing your house in a trust. However, your personal situation and circumstances will help you to determine whether it is the best decision for you. Here are the top three reasons to consider doing so.

1. You Can Avoid Probate

One of the biggest reasons that anyone puts assets into a trust is that it helps you to avoid the probate process.
Read more . . .

Wednesday, July 14, 2021

Ways to Fund a Trust

Creating a trust is a great way to find peace of mind for both you and your loved ones, ensuring that they are taken care of. However, in order for the trust that you’ve established to be able to help in the way you’ve intended, it’s really important that it’s funded.

When a trust isn’t funded it often requires probate court if you become incapacitated or pass away.
Read more . . .

Tuesday, June 22, 2021

Can a Minor Be a Trust Beneficiary in California?

Minors in California (those under 18) may not directly own assets. However, they can own them through a guardian. For example, a minor’s name can be on a bank account so long as it is also opened in the joint name of their adult guardian.

Another way in which minors can indirectly own assets is by being the beneficiary of a Trust. In fact, most people create Read more . . .

Monday, March 29, 2021

The 6 Biggest Mistakes People Make Regarding Supplemental Needs Trusts

When a loved one has special needs, it's important to ensure that they are protected even after you are gone. Many parents, wanting to care for their children with special needs, will leave their children with disabilities a large inheritance.

However, while ensuring that a loved one who has special needs receives enough financial resources to meet their long-term care needs, it’s also important not to risk losing the eligibility for them to receive governmental aid, such as California’s Supplemental Security Income (SSI) or Medicaid program, Medi-Cal.
Read more . . .

Wednesday, February 17, 2021

What Can You Do for a Loved One with Dementia Who Doesn’t Have a Will?

While it’s always in your best interest to begin estate planning sooner rather than later, sometimes it doesn’t always happen. So what happens if you have a loved one who lacks a Will or a Trust but is currently diagnosed with dementia?

In order to create an estate-planning document of any kind, it’s required that the individual doing so have the necessary mental capacity. When someone has dementia, it qualifies as a mental defect that could diminish his or her legal capacity.
Read more . . .

Wednesday, January 20, 2021

Revoking a Revocable Trust: What to Know

While we generally create trusts to hold assets for our heirs to receive at a certain point, sometimes we want the opportunity to change the trust during our lifetime. Many things can change in life and sometimes these changes are enough to want to alter your trust. You can do so, but only with a “revocable trust.”

Read more . . .

Wednesday, November 25, 2020

Naming Your Trust: Tips to Keep in Mind

While we know that the decision of what to name a child is extremely important, most people are unaware of the importance of naming your trust. Unlike other legal entities, such as corporations and LLCs, there are no laws when it comes to naming your trust. This is because your trust is not registered with the government.
Read more . . .

Wednesday, November 11, 2020

What to Know About California’s Intestate Succession Laws

For those who own a home in the U.S., it’s a good idea to establish an estate plan in order to be sure that your home goes to whom you desire when you die.
Read more . . .

Wednesday, September 23, 2020

CalABLE Accounts Help Those with Special Needs

When someone is living with a disability that makes them unable to sustain gainful employment, Social Security Income (SSI), Medicaid (known as MediCal in California), and other government benefits can often help to put a roof over their head and food on their table. But in order to qualify for these benefits, the individual must make under a certain amount of money and must not have enough money to independently support them. Money sitting in their bank account can be counted against their ability to qualify.

Due to this situation, it essentially works to prevent people with special needs from building savings whether gained through inheritance, gifts or earned income. This begs the question of how can they save money without jeopardizing these benefits?

Special Needs Trust

One option is to create a Read more . . .

Wednesday, August 19, 2020

Do Basic Wills Work for Blended Families?

It’s no secret that having a comprehensive estate plan is in the best interest of you and your family. Wills in particular are strongly encouraged by legal professionals. But for blended families, are standard Wills still in their best interest?

This is an important question for about 25 percent of the U.
Read more . . .

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