In selecting a successor trustee for a living trust, people often gloss over the complications involved and think in terms of such broad generalizations as who will “manage my estate” or “take care of my beneficiaries” or “settle my estate.” In reality, a trustee performs very specialized, complicated functions. The trustee must prudently invest assets, … Continue reading Selecting the trustee of your living trust
All California competent adults should consider signing a California Advance Health Care Directive. In this document, you empower someone to make medical decisions for you if you become unable to give informed consent to your medical decisions. You name your first choice and your alternate choices. In the aftermath of the Terri Schiavo case, most … Continue reading Use and importance of Advance Health Care Directives
In planning how to have your financial affairs managed by others if you become unable to manage your financial affairs, it’s not enough simply to have a revocable living trust because there are many financial transactions that legally cannot be handled by the trustee of your living trust. For example, if you become unable to … Continue reading Your durable general power of attorney is an essential part of your estate plan
Due process and California law requires that your closest blood relatives* be notified by the person in charge of your estate if you died or became incompetent in each of these California contexts: If probate is required because you died without a will, your administrator must notify your heirs*, as your heirs are those who … Continue reading Your family tree: its due process importance in estate administration, trust administration, and conservatorships
California law states who has priority to serve as administrator of your probate estate if you died without a will and with a California estate large enough to require a California probate. Specifically, a person in the following relation to the decedent is entitled to appointment as the California administrator in the following order of priority: … Continue reading Who will be in charge of your estate if you have no will or trust?