Certain legal processes go into motion in California to deal with the estate of a person who has died and left behind a will or trust. For instance, California probate code provides that beneficiaries of a trust must be notified by the trustee within 60 days of the trustor’s death. California law provides less-specific deadlines for filing […]
One of the primary duties of an individual who has been named executor of a will or administrator of a decedent’s estate is to pay the estate’s debts. Creditors have a right to hold an estate or trust responsible for paying its outstanding debts. Those who are owed money should file a creditor’s claim in a timely […]
As aggressive trial attorneys who litigate wills and trusts on behalf of abused beneficiaries, the lawyers of Albertson & Davidson, LLP, sometimes work with forensic accountants to examine a disputed estate’s financial records or to document the financial exploitation of an elderly person. A forensic accountant has the skills necessary to analyze the management and administration of a trust […]
If you have been notified that you are the beneficiary of someone’s last will and testament or a trust, congratulations to you. Someone has thought well enough of you or your organization that they want you to benefit from the distribution of their assets. A beneficiary is a person or entity designated to benefit from […]
There are several reasons a potential beneficiary might challenge a will, such as because the decedent lacked capacity and was manipulated to write the will a certain way. Sometimes, there are multiple wills, and evidence indicates that the court should recognize one instead of the others. Regardless, it is difficult to have a legally drafted […]
Estate planning is a necessary exercise for anyone who wants to avoid leaving their family with potential legal problems upon their death. With a valid estate plan, you legally document how your assets are to be managed and distributed if you become incapacitated or die. Wills, trusts, powers of attorney, and living wills are some […]
A U.S. citizen or Green Card holder does not have to pay U.S. taxes on an inheritance from an individual living outside the United States. However, there are IRS reporting requirements when receiving an inheritance from a nonresident alien and/or a non-U.S. domiciled person. Inheriting money or other assets can be a complex process when […]
Best Dressed Ball raises more than $1.7 million for the American Cancer Society Attorneys Stewart R. Albertson and Keith A. Davidson were among more than 2000 guests in attendance at the EXCEL Baton Rouge Best Dressed Ball, a top fundraiser for the American Cancer Society. As the name of the glamorous event suggests, the attendees […]
Individuals who act as administrators of wills and trusts in California have a fiduciary duty to the beneficiaries of those wills or trusts. If they were to breach that fiduciary duty, they could face legal sanctions such as removal from responsibility for the will or trust and be ordered to pay damages to beneficiaries they […]
Despite its name, an irrevocable trust is not set in stone. Under the right circumstances, you can terminate, dissolve, or modify an irrevocable trust in California. However, doing so is usually not as simple as terminating or modifying a revocable trust. Under some circumstances, such as fraud or undue influence in the creation or revision […]
