Some individuals don’t like irrevocable trusts because grantors can’t change or revoke them. But an irrevocable trust comes with many benefits like protection from creditors, government benefits and savings on estate taxes. If you’re thinking about creating an...
Estate planning is one of the biggest legal decisions people make. However, these legal documents can be confusing for first-time trustees. So it’s only fair that many trustees are riddled with questions. Here's what you should know: 1. Who can you name as a...
Planning your estate could be one of the best decisions you can make – for you and your family. It’s not a hidden fact, however, that estate plans include a lot of features. Here’s what you should think about including in your own plans when you're looking at the...
No one wants to think about a time when they won’t be able to make decisions on their own. However, as you get older, the potential of this happening increases. It’s best to make plans now for how you want things handled if this happens. The best way to do this is by...
Many California residents use a trust as part of their estate plan. When creating a trust, the person making it is called the “settlor.” It is the job of the settlor to find the right person to serve as the trustee. A trustee has the role of making sure the terms of...
Not everyone wants to leave their assets to their family when they die. Sometimes it is because they feel family members do not need it. Other times because they have fallen out with one or more of them. Certain people, such as spouses and children, expect to inherit...
Even people who develop a thorough estate plan sometimes fail to include their pets. This doesn’t mean leaving them millions of dollars like hotel magnate Leona Helmsley did. It simply means ensuring that they’ll be well cared for after you’re gone (or if you become...
Having children is something that most people plan for and look forward to. Bringing someone into this world comes with a lot of responsibility, though. When you have children, it’s also time to update your estate plan. One of the most important aspects to focus on...
Perhaps you are in the process of finalizing your late parent’s estate so you and your siblings can receive your inheritances. Of primary concern is how to preserve the estate should any disputes arise even though you know that you are to share the estate and assets...
Since our last update on the debacle surrounding the administration of Prince's estate, many news agencies have highlighted the astronomical costs incurred as a result of his lack of estate planning (as well as other disputed aspects of the estate, including the...