When establishing a trust, you may need to make significant decisions concerning its details, including who will be the trustee. This role has various responsibilities crucial to how the trust works and what can happen to it in the future. For some people, choosing...
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ESTATE PLANNING – Trusts
What scenarios can require a pour-over will?
Creating an estate plan is a beneficial way to enforce your wishes over your estate after your life. It can involve various legal and financial arrangements that may work together to cover all your assets, including trusts and wills. If you establish a living trust,...
Do I need to appoint a successor trustee?
One of the critical roles when establishing a trust is the trustee. This position has significant responsibilities, such as holding or managing assets for the grantor and beneficiaries. These duties also impose a high standard of honesty, transparency and integrity....
Who should I name as a trustee?
Establishing a trust can help you manage your assets and ensure proper estate administration after your death. This process could have multiple steps essential to keeping your arrangement legally sound. One of the most crucial tasks you need to do throughout these...
Can you avoid probate with a will?
The short answer is no. Verifying the legitimacy of a will before your named executor can distribute the estate to the designated beneficiaries is one of the most vital aspects of the probate process. Therefore, even if you have a will, the executor will still need to...
Are you someone who could benefit from a trust?
Planning for the future is a process that is personal and specific to the individual creating the plan. If you are strategizing about the specific tools you need to include in your estate plan, you are likely starting by drafting a will. This is a document that...
Bequeathing assets in an estate plan, will versus trust
Many people in California and beyond intend to leave their loved ones something of value when they die. An inheritance is a gift that, in some cases, keeps on giving for a lifetime, such as when a business owner passes the company to an heir, through succession. When...
Should a special needs trust be a part of your estate plan?
One of the most important reasons to create an estate plan is to ensure that loved ones receive assets and property in the future. Caring for family members is a primary reason to plan for the future, and there are different estate planning tools available to you that...