Trusts have been around for hundreds of years; specifically, the living trust gained popularity in the 1970s as a probate avoidance technique. Today, living trusts are often used as a foundational document in estate plans. We've found that many folks have both questions and misconceptions about the living trust; so, in this three part series, we answer your living trust questions. Does everyone need a living trust? Most folks would likely benefit from having a living trust; however, if … [Read more...] about Answers To Your Living Trust Questions (3 of 3)
Trusts
Answers To Your Living Trust Questions (2 of 3)
Trusts have been around for hundreds of years; specifically, the living trust gained popularity in the 1970s as a probate avoidance technique. Today, living trusts are often used as a foundational document in estate plans. We’ve found that many folks have both questions and misconceptions about the living trust; so, in this three part series, we answer your living trust questions. Will I always be the trustee of my living trust? You can be the trustee of your trust as long as you are … [Read more...] about Answers To Your Living Trust Questions (2 of 3)
Answers To Your Living Trust Questions (1 of 3)
Trusts have been around for hundreds of years; specifically, the living trust gained popularity in the 1970s as a probate avoidance technique. Today, living trusts are often used as a foundational document in estate plans. We’ve found that many folks have both questions and misconceptions about the living trust; so, in this three part series, we answer your living trust questions. I am confused about the different types of trusts. Is a living trust always called “living trust”? Great … [Read more...] about Answers To Your Living Trust Questions (1 of 3)
What is the difference between a “Conservator” and a “Guardian”?
In California, a “conservator of the person” is the individual who makes general welfare, health care, educational, and life-style decisions for an incapacitated adult. An adult may become incapacitated due to dementia, disease, or disorder. In some other states, this person is called a guardian. However, as noted below, in California, a guardian is the person appointed in connection with a minor (under 18) child. Examples of decisions would be where someone lives and what medical … [Read more...] about What is the difference between a “Conservator” and a “Guardian”?
QTIP Trust Requirements
Creating a successful estate plan often requires you to make use of a wide range of inter-related estate planning tools and documents. Moreover, as your estate and your family grow, your estate plan will likely need to grow as well. If you divorce and remarry, for example, you may now need to protect both your new spouse and your children from your previous marriage. One popular way to do that is to make use of a specialized type of trust known as a Qualified Terminable Interest Property, or … [Read more...] about QTIP Trust Requirements
13 Disturbing Estate Planning Problems
Each of these 13 disturbing estate planning facts is true; but, each situation can be avoided with a strong, individualized, comprehensive, and up-to-date estate plan. If you don’t name a guardian in your will, your minor children could end up with persons you either don't like or don't know. If you don’t provide for your pet in your estate plan, your pet may be euthanized when you die. If you put assets in joint tenancy with a second spouse, your children may be disinherited. If … [Read more...] about 13 Disturbing Estate Planning Problems
Differences Between a “Conservator” and a “Guardian”
The terms conservator and guardian vary in their usage from state to state. In California, they have specific and different meanings. Let's explore them. A “conservator of the person” is the individual who makes general welfare, health care, educational, and life-style decisions for an incapacitated adult. An adult may become incapacitated due to dementia, disease, or disorder. Examples of decisions would be where someone lives and what medical treatment he or she receives. In … [Read more...] about Differences Between a “Conservator” and a “Guardian”
A Basic Guide to Trusts
If you’re thinking about your estate planning affairs, you may be considering the use of trusts. It’s important to understand how trusts work, so that you can make the best planning decisions; take a look at the following basic information to learn more. If you have any questions, or if you’d like to discuss how trusts can fit in with your estate plan, meet with an experienced, qualified estate planning attorney. Trustee Holds Legal Title to Trust Assets When you create a trust, you’re … [Read more...] about A Basic Guide to Trusts
FAQ: Charitable Planning
You may think that charitable planning has sunk into nonexistence. The extremely large (i.e. $11.18 million in 2018 an) lifetime federal estate exemption has made many question the need for charitable planning. However, charities are pleased to announce that charitable giving remains strong in the United States. What are the common ways to participate in charitable giving? Lifetime gifts Private foundations Donor advised funds Bequests Charitable remainder trusts … [Read more...] about FAQ: Charitable Planning
BEING THANKFUL FOR CAREGIVERS
Thanksgiving is a time to reflect on the persons and things we should appreciate and be thankful for. Among those are the caregivers who assist loved ones on a daily basis. It is appropriate that November is National Long-term Care Awareness Month. The number of professional caregivers and care-giving services has increased along with our growing elderly population. However, the majority of caregivers in the United States still are family members or friends. If that is true in your family, … [Read more...] about BEING THANKFUL FOR CAREGIVERS
