Category: Beneficiary
“Probate is the court process to distribute someone’s estate after their death, even if there is a will and is notoriously slow in California.” The nature of the probate process varies from state to state, and even varies from county to county. However, the nature of the process is the same. A court has to […]
“Sometimes beneficiaries end up not receiving their assets. Beneficiaries often lose out because the estate planning wasn’t done properly, but sometimes another family member contests the decedent’s will.” What happens when estate planning doesn’t go according to plan? A last will and testament is a legally binding contract that determines who will get a person’s […]
As you plan how you will leave your estate, it is important to understand the estate planning process and ensure that you leave a legacy with well-executed documents. It’s also essential that you understand all of the roles of the people involved in your estate, especially the person or organization who will manage your estate. […]
“Probate and trust administration are not the same. There are important differences and similarities between administering a decedent’s probate estate and administering a decedent’s trust estate.” Many people get these two things confused. A recent article, “Appreciating the differences between probate and trust administration” from Lake County News clarifies the distinctions. Let’s start with probate, […]
“What may have seemed like something to take care of ‘one day,’ has turned into a basic necessity that makes it essential and necessary for you to encourage your clients to act now.” The Covid-19 pandemic has brought estate planning front and center to many people who would otherwise dismiss it as something they would […]
“It can be hard to move through your daily life after someone you love dies. It may be even harder to embark on the complex tasks required to put their financial affairs in order. However, you can’t afford to put that off.” When a member of a family dies, it falls to the people left […]
“If you want a legal plan that avoids probate court, there are two options: first, an enhanced life estate deed, and second a living trust. Each has its pros and cons.” There are numerous ways to accomplish distributing property according to specific wishes. A woman with three grown daughters faced a problem about passing down […]
“Losing a loved one isn’t just an emotional burden—it also carries an administrative load. There are flower arrangements to pick, eulogies to write and a stream of paperwork to sort through.” One way to show loved ones that you care is by having an estate plan and communicating your wishes to them clearly, notes the […]
“Seniors are especially at risk during the coronavirus pandemic. The numbers are shocking.” The numbers are frightening, especially for those over 80. By the time seniors with COVID-19 are admitted to the hospital, it’s usually too late to do anything about their legacy. This topic was taken up recently in the article “Tips for protecting […]
“Certain types of trusts, however, may only be used in very specific situations and a constructive trust is one of them.” Trusts are useful in estate planning to avoid probate or minimize estate taxes. A commonly used trust is a revocable trust, often used to pass on assets to beneficiaries and keep them outside of […]
