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 […]
Under California law, a decedent’s family members (even the decedent’s children), are not necessarily entitled to receive an inheritance. A California resident may create an estate plan (a Will or Trust) and may leave their assets to whomever they wish (even non-family members). The decedent may also own other assets that are not subject to […]
Setting up a trust for your children is an efficient way to transfer family wealth to the next generation in keeping with your wishes and to enable your family to avoid the California probate process after your death. A trust also may convey money to charities or colleges and universities that you support. Trust funds can […]
Real estate passed on from one generation to the next is one of the primary ways wealth is built in this country. Siblings who jointly inherit a home or other California real estate assets from a deceased parent can sell the property and the proceeds. However, the common transfer of wealth through inheritance can be complicated if […]
If you are a beneficiary of a Trust in California, you have legal rights. Below is a list of some of a California Trust beneficiary’s basic rights. Obtain Copies of Trust Documents Trust beneficiaries are entitled to receive copies of the Trust documents. Beneficiaries should receive copies of the Trust when either: The Trust (or […]
When children inherit assets from a Trust there are basically two ways for them to receive the assets. They can receive their assets “outright and free of trust,” which means their share of the Trust will be distributed into their name now with no further strings attached. Or their share of the Trust can remain […]
Hire A Lawyer If you have a Trustee who refuses to follow the Trust terms, you are headed to court. The only way to force a Trustee to act, to do the right thing, is to file a petition in probate court and ask the judge to issue orders that will force the Trustee to […]
The old switcher-oo can happen to just about anyone. That’s where the old Trust is abandoned for a new Trust. And the new Trust has entirely new provisions that leave everything to the bad actor. For example, let’s say your oldest brother has decided that he should receive the entire estate. Your father passed away […]
