Your living trust can provide that, after your death, wealth remains in trust for your child (or other intended beneficiary) to help with designated purposes. Well known examples of such purposes are health and education. But another purpose is help with buying a house. For example, your trust could provide that, after your death, the trustee may … Continue reading Trust inheritance provision to help your beneficiary buy a home
Just because California is a community property State does not mean that an inheritance here is community property. For a married Californian, property received by gift or inheritance is separate property, not community property. For many parents, that fact alone is enough protection for a child’s inheritance. Perhaps most parents have confidence that their children will do … Continue reading Trust provisions to protect your children’s inheritance from in-laws
Every parent knows how important it is to select a guardian for minor children. Many parents find this decision to be terribly stressful. Here are some tips to help with deciding whom to nominate as the guardian of your child if neither parent is living (or if both parents became incompetent). In California, there are … Continue reading Selecting the guardian for your minor child
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?
#10. Under your existing estate planning documents, who will be charge of your financial affairs if you become ill? Who did you name as your successor trustee and as your attorneys-in-fact under your durable general power of attorney? Has your opinion changed since the time that your trust and power of attorney were signed? #9. … Continue reading 2016 Review of Your Existing Estate Plan: Top 10 Things to Review