The job of caring for assets after a loved one's death involves various important and complex duties. This person — known as a trustee — will be responsible for filing income tax returns, communicating with the people who will receive the assets and managing the...
What is a Revocable Living Trust? Advantages of a Revocable Trust Consulting With an Attorney Living trusts are a helpful estate planning tool that can allow you to avoid the frustrations and fees associated with probate. Probate is the court process required to...
You want your heirs and trust beneficiaries to have the easiest time accessing their funds after you pass. Therefore, you want to appoint a trustee who will follow your instructions. But what if your beneficiaries want to remove the trustee? Can they do that? In some...
As you review your loved one’s estate plan, you may have concerns about its provisions. They may have set up a trust that they thought would protect their assets. Yet, the trust document may exclude certain property or contain details that seem at odds with their...
Your estate plan can serve many purposes. For a person who has a loved one with special needs, the estate plan can help care for them when you aren’t around to take on this responsibility yourself. One option that you have to do this is a special needs trust. Your...
Naming someone as trustee is usually a sign that the person creating the trust believes that the trustee is an ethical and responsible person. They choose to put that person in a position of authority over their legacy, which might mean that they have control over...
Trusts are not something you only have to think about when you’re drafting an estate plan. A trust can be a practical tool for managing how you use your money. If you’ve accrued a certain amount of capital, you may want to think about how you can use that money to...
A trustee has to be assigned knowing that they will execute your trust in accordance with your wishes. While many people will choose to have a family member take on this role, it’s not always an option. There are times when appointing a family member isn’t possible,...
When you put your money into a trust to leave to your heir, did you know that you can actually choose when the trustee should distribute it? Sometimes, people base this on events, such as saying the money is to be used for college and can be given to the heir or...
One of the most important parts of creating an estate plan that contains a trust is choosing the right trustee. In many cases, California residents choose a family member or friend to serve in this capacity. However, this may not always be the right decision. In some...
