There are many advantages to using a trust as part of your estate plan. Trusts are very useful because they can provide a means for avoiding probate. Depending on the type of trust you choose, they can provide asset protection, as well. There is a special type of irrevocable trust, the beneficiary defective irrevocable trust, which could provide special advantages to your beneficiary. Lets look at what they are and how they work The basics of a trust A trust is essentially a fiduciary … [Read more...] about Trust Administration Lawyers Explain Beneficiary Defective Irrevocable Trusts
Trusts
How Elder Law Attorneys Can Help With Your Nursing Home Planning
One of the major concerns most people have in nursing home planning is how to protect their assets from being completely exhausted by nursing home expenses. Although a trust can be a great strategy, not every type of trust provides the asset protection you need. If you engage in proper nursing home planning, including the use of the right type of trust, you may be able to avoid exhausting your assets just to pay for nursing home costs. Let our Sacramento trusts lawyers help. What is a … [Read more...] about How Elder Law Attorneys Can Help With Your Nursing Home Planning
Trust Administration Attorneys Can Handle Administration Issues
The important role of a trustee is crucial to the successful administration of a trust. A trustee is “trusted” individual who is responsible for making sure the provisions of the trust agreement are followed. Trustees are basically responsible for management of the trust property, including maintaining accurate records of every transaction taken that relates to the trust property. This is an important responsibility. Our trust administration staff is here to steer you clear of some of the … [Read more...] about Trust Administration Attorneys Can Handle Administration Issues
Errors to Avoid in Sacramento Trust Administration
If you have been called upon to serve as a trustee, you have a very important job. The role of trustee is an essential component of successful Sacramento trust administration. The trustee is the person responsible for ensuring that the terms of the trust document are followed. A trustee is ultimately responsible for managing the trust property and keeping accurate records of all transactions. This is a great responsibility, so here are some of the common mistakes you should try your best to … [Read more...] about Errors to Avoid in Sacramento Trust Administration
Do It Yourself Wills and Trusts are not a Quick Fix
Here's a good rule of thumb: do-it-yourself (DIY) is for remodeling and arts and crafts. Sure, there are great DIY magazines out there and DIY products online for you to try. But when it comes to drafting your will or trust, or any other estate planning tool, DIY is not the way to go. DIY wills and trusts can ultimately cause you more problems than you could imagine. Despite the low cost and simplicity of DIY wills, trusts and other online legal forms, there is still a great risk that your … [Read more...] about Do It Yourself Wills and Trusts are not a Quick Fix
Asset Protection Planning: Should You Be Worried?
Common goals of many folks is to build up their estate assets so that they can live comfortably during the Golden Years and – hopefully — have a nest egg left to pass down to their children, grandchildren, and/or other loved ones. These goals could be threatened, however, if the hard earned assets are put at risk – and they could be at risk without you even realizing it. The best way to protect your assets, your future, and your loved ones is to include asset protection planning as a component … [Read more...] about Asset Protection Planning: Should You Be Worried?
How is a Durable Power of Attorney Different from a Living Trust?
When it comes to estate planning, there are so many beneficial options, depending on what you need to accomplish. A durable power of attorney is a common tool. So is a living trust. So, what is the difference and how do you know which one you need for your estate planning. What is the definition of a Durable Power of Attorney? A power of attorney is a flexible estate planning tool that allows you to choose someone who will handle all or part of your personal affairs, including making health … [Read more...] about How is a Durable Power of Attorney Different from a Living Trust?
7 Basic Steps of the Probate Process
When a loved one dies, the money and property included in their estate need to be distributed to their heirs. In many cases, the estate must go through the probate process in order for the assets to be properly distributed. The basic probate process requires completion of several steps in order to close probate and make those distributions. This article will explain the 7 basic steps required in the California probate process. Before the probate process can formally begin, you need a personal … [Read more...] about 7 Basic Steps of the Probate Process
The Basics of Trust Administration in California
Trust attorneys will agree that a trust is a valuable estate planning tool. Trusts are useful in minimizing estate taxes and in avoiding costly probate. There are actually many benefits. But, when it comes to trust administration, it is equally important to understand what is involved and to select the right person or entity to serve as your trustee. The legal definition of a trust Trusts are basically fiduciary agreements between a trustee and the grantor, who is the person making the … [Read more...] about The Basics of Trust Administration in California
6 Things You Need to Know about Guardianship
Parents with minor children are always concerned about their welfare. Part of that concern is who will take care of their children if something happens to them. While you may not want to consider the possibility of your children being without their parents, you can, at least, have the peace of mind that planning ahead can provide. In California, you need to plan ahead for guardianship for your minor children, should anything happen to you. 1. What is guardianship? Guardianship is a legal … [Read more...] about 6 Things You Need to Know about Guardianship
