You are the lucky recipient of a generous inheritance, but that inheritance may come with a big catch. While many inheritances are given to the beneficiaries outright, meaning the money or other assets pass into the beneficiaries’ names to own and control, some trusts require inheritances to remain inside a trust for the lifetime of […]
Did you know that being disinherited may not be the only way you could lose your inheritance? Sure, you could just be excluded from the trust or the will and thereby be disinherited: that’s the first and most obvious way you could lose your inheritance. But there are more subtle ways in which you may […]
It’s not unusual for a family that has recently come together in grief over the death of a loved one to be divided by disagreements over the distribution of assets from the deceased individual’s estate. Inheritance disputes between siblings or other family members can arise if the deceased’s will does not distribute assets equally or […]
Last updated on 09/04/2024 A house is most people’s most valuable investment and the primary means of passing wealth from one generation to the next. When the sole owner of a house dies, they have often been widowed for some time and may have failed their will or trust to ensure they can pass their […]
It is important not to overlook digital assets as you establish a will or trust to distribute your estate upon death. Digital assets have value you may want to pass on to beneficiaries. However, online assets are protected by passwords and may not be available to anyone, including designated heirs, if you fail to take […]
Follow Trust Terms The trustee has a duty to follow the Trust terms. In other words, do as they’re told. May sound obvious, but it’s remarkable how often trustees seem to get that one wrong. It is a basic trustee duty that can be found at California Probate Code section 16000. Too often individual trustees will […]
Last updated on 09/04/2024 The single most valuable asset most people in California own is their home. Passing a house from one generation to the next is the standard basis for building wealth in our country. But there are multiple ways an individual may inherit a house, and several options exist for using this asset […]
If the Grantor wishes to limit or control how and when a specific heir is to receive their inheritance the Grantor may impose conditions on the distribution of assets. Grantors may also choose to change the original allocation of assets among the beneficiaries in subsequent codicils, amendments, and restatements to the original Will or Trust. What are […]
Disinheritance is when someone changes their estate plan (Trust or Will) to remove an heir, or previous beneficiary, effectively barring the heir from receiving the full share they were previously entitled to. Heirs and beneficiaries can be fully disinherited, partially disinherited, or can have conditions placed on their inheritance by the Grantor. Below we will […]
Being removed as a beneficiary of a Will or Trust can be emotionally painful for all involved. There are several types of disinheritance. The most extreme example of disinheritance is full/complete disinheritance. What is Complete Disinheritance? Complete disinheritance happens when a Will creator (“Testator”) or Trust creator (“Grantor” or “Settlor”) amends or changes a previously […]
