What if it the trustee and beneficiaries could ignore your instructions and re-draft your trust after passing? Is it possible for your heirs and the trustee of your and your spouse's trust to ignore your wishes, and simply get together and re-write the terms of the trust and divide things...
Prepare for the New Year by Reviewing Your Trust for 2022
Ensure your financial affairs are in order, and prepare for the new year by reviewing your trust for 2022. It is important to review trust documents every 2 to 3 years. There have been many recent changes to asset protection related laws as well as the US exemptions for estate...
Will or Trust in Southern California – an Obvious Choice
As experienced trust and estate planning attorneys we are often asked which is better - a will or trust in Southern California? Simply stated, if you own any real estate whatsoever, or have more than a few thousand dollars in your accounts a revocable trust is almost always the least...
Should You Consider an Irrevocable Trust for Life Insurance
What is the best strategy for handling life insurance proceeds for your heirs and beneficiaries. It is often important to consider an irrevocable trust for life insurance proceeds to prevent your designated beneficiaries from misusing the funds you have planned and worked so hard to provide. An irrevocable trust is usually...
Can Establishing or Reviewing a Family Trust Save You Money?
Can establishing or reviewing a family trust save you money? The bucket full of cash may be understating the matter, as an effective estate plan avoids expensive and time-consuming Probate Court. The financial picture has changed for many spouses and families since they established a family trust or A-B...
Parents Who Wish to Establish a Living Trust
Parents who wish to establish a living trust need sound financial and legal advice and counsel. Living trusts are a hot topic for many parents these days. If you have children and want to set forth a financial foundation for their futures that protects them and their assets from bad...
The Executor’s Role in the Probate Process
What is the executor’s role in the probate process? To ensure proper estate planning and administration, one needs to understand the basics of the probate process. The probate process involves distributing a deceased person's estate. In plain English, probate is the legal term used to describe the re-titling of the...
Are You Prepared for the Great Wealth Transfer?
Are you aware of and/or prepared for the “Great Wealth Transfer?” What is the Great Wealth Transfer and how will this affect tax and estate planning in the months and years to come? The “baby boomers” (those born between 1946 and 1964) represent a substantial portion of the US population. ...
California voters took to the polls and preliminary results are in….Proposition 19 passed!
California Proposition 19 passed resulting in new questions and opportunities for many here in San Diego and across California. Proposition 19, entitled: ‘Changes Certain Property Tax Rules’ is good news for homeowners who are 55 or older, disabled, or have been victims of wildfires, or other natural disasters. The Constitutional...