When someone dies in California, who is responsible to pay the debts? The simple answer is the estate, but that’s not such a simple matter in most cases. The reason it is not so simple is because most people do not require a probate estate to be opened. If all of your assets pass through […]
Last updated on 09/04/2024 What can you do when you find yourself left out of a parent’s Will? That all depends on the circumstances surrounding the creation of the Will in the first place. Understanding Inheritance Rights in California For starters, in California children do not have a right to inherit any property from a […]
This post is the first in a series of ten posts that will discuss the top 10 myths and misconceptions of trusts and wills. There’s a lot to learn, so let’s get started on this first installment: Is a Trust a public document? Many times people would like to see a copy of their parents’ […]
Under California Probate Code section 15800, a Trustee of a revocable Trust only owes duties to the person who has the power to revoke, so long as that person is living and has capacity. That means if you are the beneficiary under a revocable Trust, you do not have the rights normally given to Trust […]
So you want to get rid of your Trustee? Quite a few beneficiaries feel that way, especially when a Trustee fails to treat the beneficiaries fairly, fails to follow the Trust terms, and fails to properly invest Trust assets. It can be a challenge to remove a Trustee, in part because Court’s are at times […]
The complicated world of Trust and Estate taxation can be hard to navigate at times, but taxation has gotten a bit easier now that the Federal Estate Tax applies to far fewer estates. Basically, there are two broad categories of possible taxes: Estate Tax and Income Tax. Estate taxes only apply to estate with a […]
Just because you are a named Trust beneficiary does not necessarily mean you are entitled to a Trust accounting. There are times when you can get an accounting and times when you can’t. In this video, partner Keith A. Davidson describes when you can obtain a Trust accounting.
Sometimes a beneficiary has got to go. When a Trustee or a beneficiary refuses to vacate Trust property so it can be sold, then an eviction may be in order. But beware, evictions can be blocked when the right procedure is followed. In this video partner Keith Davidson discusses some points about eviction.
In traditional nuclear families, the passing of assets from one parent to the other and then to the kids is a natural occurrence most of the time. But when you have a parent who marries a different spouse, a step-parent to you, then the passing of assets is not so simple; especially where the step-parent has children […]
Did you know that not all beneficiaries are created equal? There are different levels of beneficiaries in California Trust and each level has different rights and priorities when it comes to Trust distributions. For current beneficiaries, there are three basic levels: (1) specific gift Beneficiaries, (2) general gift Beneficiaries, and (3) residue or remainder Beneficiaries. […]
