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...]
Applying for Veterans Aid & Attendance Benefits
You may not be aware of this, but certain wartime veterans who have 90 days of active duty, one day of which began or ended during a period of war, is eligible for Veterans Aid & Attendance benefits. Surviving spouses who were married at the time of the veteran’s death may also be eligible. There are certain financial and medical qualifications that may apply. Here is what you need to know. Medical qualifications for Veterans Aid & Attendance benefits In order to qualify medically … [Read more...]
How Sacramento Probate Attorneys Can Be Helpful
When someone passes away, the assets making up their estate need to be distributed to their heirs. In many cases, in order for those assets to be properly distributed the estate must go through the probate process. Probate involves several steps, including proving the existence of a valid will if there is one, identifying the property and creating an inventory, appraising the property as necessary, paying debts, funeral expenses, and taxes, and then distributing the remaining property to heirs … [Read more...]
How to Avoid Intestate Succession with an Estate Plan
One of the purposes of estate planning is to prepare for your death and avoid intestate succession. The laws of intestate succession determine who gets what if you die without a will. In general terms, if you die without a will in California, your assets will go to your closest relatives. Here is what intestate succession is and how you can avoid it. California's Laws of Intestate Succession If you die with surviving children, but no spouse, parents or siblings, your children will inherit … [Read more...]
Trust Lawyer Explains the Discretionary Trust
Trusts are one of many important tools that can be included in an overall estate plan. A discretionary trust is a particular type of trust that provides the trustee with broad discretion regarding how the trust property is managed and distributed. Unlike a fixed trust, beneficiaries of a discretionary trust can only receive distributions from the trust property when the trustee exercises his or her discretion to do so. So, if you are trying to determine what type of trust you need, let a trust … [Read more...]
Mistakes to Avoid in Your Retirement Plan
A major concern for most people, when it comes to retirement is whether they will have enough savings to be able to enjoy a comfortable retirement. They wonder when to start saving and what retirement planning strategies should be used. Your golden years should be relaxing – not stressful. So, if you need help getting started with your retirement plan, discuss your goals with your estate planning attorney in order to avoid some of the most common mistakes. Don’t wait too late to start saving … [Read more...]
Being the Executor of a Will Left by Your Parents
In many cases, when a parent dies the family is not quite sure what needs to be done legally, to handle their assets. For most, one of the children has been named executor of a will left by a parent. Here you can find a step-by-step guide to handling your parent’s estate after their death. It is still a good idea to consult with an estate planning attorney to make sure you have everything covered. The first few days following your parent's death Before you can really start taking official … [Read more...]
Let an Asset Protection Lawyer Show you How to Protect your Assets
Asset protection can be big concern for you, especially if you own a business or commercial property. The possibility of legal claims and constant existence of creditors make it even more important to have an asset protection plan so that you don't run the risk of losing everything through some unexpected turn of events. There are different ways to legally protect your assets, including irrevocable trusts. Not every type of trust can accomplish proper asset protection. Let your asset … [Read more...]
A Probate Lawyer Can Help With the Probate Process
When someone passes away, the money and other property making up their estate needs to be distributed to their heirs. In many cases, the estate must go through the probate process in order for those assets to be properly distributed. This process typically requires several steps, including proving the existence of a valid will (if there is one), identifying and inventorying the property, appraising the property, paying debts and taxes, and then distributing the remaining property. A probate … [Read more...]
The Steps in Handling the Probate Estate
In the event of a loved one passing away, the property left in their estate must be distributed to the right individuals. Usually, that means the estate has to go through the probate process. The portion of the property that must go through probate is referred to as the probate estate. When it is time for the probate estate to go through these court proceedings, there are generally 7 basic steps required in the process. Here is what you need to know. Before the probate estate can be processed, … [Read more...]
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