Probate is the legal process of distributing a deceased person's estate through the court system. While it’s a common procedure, it can be time-consuming and costly, often delaying the distribution of assets to your loved ones. Fortunately, there are several proactive steps you can take to keep your estate out of...
Estate administration fraud is a significant problem for families in Orange County and throughout California. The easiest way to prevent fraud is to be proactive. This kind of forward-thinking can help protect your estate from potential fraudsters and keep your assets safe for your beneficiaries.
The Orange County, CA,...
What happens if I forget to put an asset into my Trust? This is a question that many of our clients ask during our meetings.
Legally, if an asset was not put into the trust by title or named to be in the trust, then it will go...
“Fiduciary duty” is a legal responsibility trustees, agents, and executors in California must uphold when managing someone else’s estate or assets. This responsibility includes acting in good faith, avoiding conflicts of interest, and ensuring that all decisions benefit the beneficiaries of an estate or trust. Having an understanding of this duty when...
The rule of thumb for estate planning is to update your plan every few years or when a significant milestone occurs. For some adults, that significant milestone may be the birth of a grandchild. Although you may be busy with all the fun and beautiful things that come with being a...
A Qualified Personal Residence Trust (QPRT) can be a smart way to protect your home from estate taxes while still enjoying the benefits of living in it. By placing your residence in a QPRT, you can potentially pass it on to your beneficiaries with a reduced tax burden. This type of trust...
Research suggests close to 50 million people in the United States have federal student loan debts. When you include the number of people with student loans from private institutions, that figure rises significantly. Because it can take years or even decades to pay off these debts, it’s crucial...
It’s difficult to change the terms of a trust in California, particularly if the party who created the trust has died or in cases involving irrevocable trusts. However, there are cases where someone who establishes a trust or a beneficiary wants to change the trust’s terms, select a new trustee, or make...
Purchasing a second home is an exciting milestone that often brings new opportunities and responsibilities. As you add this significant asset to your portfolio, it's essential to consider how it fits into your existing estate plan. Whether your new property is a vacation retreat, rental investment, or future retirement haven, ensuring that...
When planning for the future, one of the most important decisions you'll make is choosing your beneficiaries. This decision goes beyond simply naming individuals; it involves determining who will receive your assets and under what conditions. A primary beneficiary is first in line to inherit, but it's also important to consider...
