One reason to update your living will or trust in San Diego is to ensure your trustee or executor has authority and electronic access to digital accounts and assets. When a person passes away, the deceased's assets are distributed pursuant to a trust or will (or according to the California...
What if the Trustee and Beneficiaries Could Ignore your Instructions and Re-Draft Your Trust After Passing?
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...
Review Your Trust Every 2 to 3 Years
Why should you review your trust every 2 to 3 years? Many people mistakenly believe that "a trust is a trust" and once it is set up you never have to think about it again. Estate planning is not stagnant. Relationships change. Laws change. Lifestyles change. San Diegans gain new assets and...
A Trustee or Executor Have More Financial and Legal Liability Than They Might Realize
Have you been asked to be a trustee or executor? A trustee or executor have more financial and legal liability than they might realize when they accepted the request. As the trustee, successor trustee or executor of an estate or legal trust you carry extensive fiduciary and legal responsibilities that...
Pass Wealth or a Business Interest to the Next Generation
A well structured trust is a central estate planning tool for small business and closely held family business owners to pass wealth or a business interest to the next generation. This includes heirs, beneficiaries and future generations of your family while minimizing the impact of taxation and maximizing control. The...
Create a New Trust or Update Your Existing Estate Plan
If you wish to create a new trust or update your existing estate plan every 2 to 3 years you will need skill and expertise across many separate disciplines: tax, estate planning and legal services. These services are seamlessly integrated at Allen Barron to provide a much more comprehensive overview...