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Latest Blog Posts By Category
- California: An Anti-Lapse State
When writing your will, a good idea is to figure out where you’d like the gift to go if the person you designated as the beneficiary happens to die before you do. If this happens that gift is ... - Disinheritance Cluase may not avoid Anti Lapse statute
When putting together your estate plan, you should hire an experienced estate planning attorney to avoid any unintended distributions of your estate. In 2010, the California Court of Appeal held that ...
- Government Worker's Indicted Over Intestate Decendents' Estates
In a recent New York case, Richard Paul, the bookkeeper for the Brooklyn public administrator's office, has been charged with allegedly funneling more than $2.6 million into personal accounts from ... - LA Heiress' Trustee Under Investigation
I don't have to tell you that when you have an elderly person with possible dementia combined with a lot of cash; the situation is a perfect storm for elderly financial abuse. Earlier this month ... - Be A Responsible Beneficiary and Co-Trustee
Many people often turn to professional institutions, such as banks, to handle the fiduciary and trust administrations of their family trusts because they believe they have the professional financial ...
- Capacity in California
If you are planning on making changes to your estate plan, or if you are drafting an estate plan for the first time, you should ensure that your capacity will not be called into question. A ... - Capacity in California Continued
In yesterday's blog, we discussed how capacity affects a person's ability to execute a will in California. Pursuant to California Probate Code section 811 a determination that a person lacks the ... - Capacity in California Continued
In yesterday's blog, we discussed how capacity affects a person's ability to execute a will in California. Pursuant to California Probate Code section 811 a determination that a person lacks the ...
- England's Princes To Inherit Remainder of Diana's Estate
This year when Prince William of England celebrates his 30th birthday, he will have a little extra cash on hand to do it in a big way. On June 21, 2012, Princes William and Harry will receive the ... - Courtney Love Relinquishes More Control Over Cobain Image
Recent reports regarding Courtney Love's involvement with the estate of late Kurt Cobain indicate that she has agreed to step down as an acting manager for the company responsible for Cobain's ... - Dick Clark's Huge Estate
When America's Oldest Teenager, Dick Clark, died last month at the age of 82, he left behind a fortune estimated to worth hundreds of millions of dollars. Dick Clark was described as a workaholic ...
- Another Victim By Conservator
It stands to reason that two people you should trust most are your lawyer and your conservator. And if they are both one and the same, that person had better have your needs as top priority. However, ... - Britney Spears' Fiance Appointed As Co-Conservator
It is being reported that Britney Spear's fiance, Jason Trawick, will be appointed to serve as co-conservator alongside her father Jamie Spears. The application for co-conservatoship was approved ... - New Conservatorship Senate Bill Passed
Deciding to place a loved one under a conservatorship is never an easy decision to make, but usually it is done in their best interest after careful consideration. However, and unfortunately, ...
- The Estate Tax RETURNS IN 2011
The estate tax is making a return in 2011, what is everyone to do with their estate plans? Also, the return of the Federal Estate tax may also bring back the California State Tax, also known as the ... - Private Letter Rulings
A Private Letter Ruling (PLR) is a written response by the Internal Revenue Service (IRS) to a taxpayer's request for information. A PLR can be used by a taxpayer for guidance on whether to take ...
- Can Abusers Still Inherit From The Abused?
For obvious reasons, nobody wants to see an inheritance go to someone that may have committed an act of financial abuse upon an elderly decedent. But in life, what we want to see is usually vastly ... - Disinheritance Cluase may not avoid Anti Lapse statute
When putting together your estate plan, you should hire an experienced estate planning attorney to avoid any unintended distributions of your estate. In 2010, the California Court of Appeal held that ...
- LA Heiress' Trustee Under Investigation
I don't have to tell you that when you have an elderly person with possible dementia combined with a lot of cash; the situation is a perfect storm for elderly financial abuse. Earlier this month ... - Elder Abuse Bill Passed by Colorado Senate
I'm happy to report that there is some good news coming out of Colorado in regards to legislation dealing with elder abuse. On March 27th, 2012, the Colorado Senate approved Senate Bill 78. This ... - Estate Abuses By Gov. Officials
Often times we view the courts and the government as entities that are there to help us in our times of need. However, that may be a false sense of security when it comes to estate affairs. Claims of ...
- Choice of Law Clause
A choice of law clause, also known as proper law clause, is basically a contract term in which the parties specify that if disputes arise under the contract then they will be handled in accordance ... - What is an Order Made Sua Sponte?
Sua sponte is another one of those fun Latin phrases that courts like to use. So, what does it mean? Basically, it can be interpreted as meaning, 'of ones/its own accord'. And it describes an ... - Where Have All The Assets Gone?
When dealing with executing a decedent's estate, you may come across an issue where property and assets bequeathed in the will are no longer in possession of the estate. This situation is known as ...
- Dealing With Social Media After Death
In this age of social media many people have many personal social sites on the internet whether it be Twitter, Facebook, Myspace (is that still used?), GooglePlus, YouTube, Blogger and the list just ... - Avoiding Asset Ademption
When it comes to avoiding ademption , there are a few rules that have been developed for such cases. A simple way of avoiding ademption is to state gifts as general gifts as opposed to being specific ... - Simultaneous Death
Simultaneous death refers to an event in which the testator and the sole beneficiary, usually husband and wife, die at the same time or in a short time of each other. If this were to happen then it is ...
- Homestead Declaration as Part of Estate Planning
I would wager that the main type of property you would want to have protection for when you die would be your home. Many states, including California, have what are called homestead allowance ... - Executor Reimbursement From An Estate
You've become the Executor of an estate, but what do you do now? Whether you knew this was going to become your role or not, now you've got to take on the many responsibilities that go along ... - Things To Consider When Choosing An Executor
Choosing an executor of a will is an important process in estate planning. A choice that should not be made until several factors are taken into consideration. The obvious route when choosing an ...
- Collecting Decedent's Employee Benefits
As part of your duties as the estate executor, you will need to collect any employee benefits or death benefits that the decedent may have been eligible for. Such benefits may include retirement ... - Executor Reimbursement From An Estate
You've become the Executor of an estate, but what do you do now? Whether you knew this was going to become your role or not, now you've got to take on the many responsibilities that go along ... - Executor Duties and Responsibilities
An executor of a will has many duties that need to be performed while executing a will. Property has to be allocated to the beneficiaries, creditors must be paid out from the assets of the estate, any ...
- Are Trustees Protected from Fiduciary Breaches by No Contest Clauses?
Not according to the California courts. In the case of Christopher Gene Fazzi v. Norma Jean Klein, 2010 Cal. App. LEXIS 2112 , Christopher sought to remove his mother, Norma, has the sole trustee for ... - Reasonable Attorneys' Fees may be Paid out of a Trust
Being named the trustee of any trust is a serious obligation, one which may open you to litigation. In California, the Appellate Court recently ruled in 2010 that in order to recover attorneys' fees ... - Standard to Appoint a Guardian
In January of 2010, the California Appellate Court considered the right of a parent to care for their children in considering an application for the appointment of a Guardianship of a person on behalf ...
- What is a Guardian Ad Litem?
If you have been reading this blog or browsing the David A. Shapiro website , then you should be aware by now the definition of what a guardian is and the duties required to protect their ward. ... - Joint Guardianship Limitations
As well as having many responsibilities and duties as a joint guardian, your control over the child may come with limits placed on those duties. In the Order for Appointment of a Guardian, the court ... - Joint Guardianship Legal Process
As a parent faced with a life threatening disease, you may have considered using a joint guardianship for your minor child. Once you've established that a joint guardianship is the right course of ...
- Can I Put Life Insurance in a Trust?
Even though the federal estate tax was repealed in 2010, a $5 million exemption came back retroactively which is also effective for 2011 and 2012. In 2013, the exemption will decrease to only $1 ... - Understanding Life Insurance Trusts
Obtaining Life Insurance coverage is often a part of the estate planning process. If you have multiple life insurance policies you may want to consider a Life Insurance Trust. a life insurance trust ...
- Transferring Real Property - Due-On-Sale Clauses
Another factor you will need to take into consideration when transferring real property to your living trust, is whether or not there is a due-on-sale clause that is written into your mortgage. If ... - Keeping Real Property Transfers Private
One of the many benefits of transferring real property into a revocable living trust is the privacy that comes with this transfer. In most states, titles on real property can be transferred through ... - Check Title Insurance Before Transferring Real Property
Before transferring any real property into your living trust, it is extremely important that you check on several factors that could have a negative effect on the transfer. One of these factors is ...
- Avoiding a Formal Probate
Most people are eager to avoid a formal probate process. Certainly, there is motivation to avoid the process of distributing property to loved ones through the courts if possible. One way to avoid ... - The California Court of Appeals rules on Non-Probate Transfers
In August of 2010, the California Court of Appeals reviewed non-probate transfers in relation to the Uniform Transfer on Death ("TOD") Act, section 5500. The Court of Appeals determined whether parol ... - Non Probate Transfer Disputes
In August of 2010, the California Court of Appeals reviewed a case to determine whether the Decedent, James Donald Garner, Jr. intended to transfer funds to his mother, appellant Adria Underwood and ...
- The Case of Boots The Cat
I've seen a lot of odd decedent requests written into their wills, but the following will provision is one of the strangest I've recently read about. Georgia Dvorak of the Chicago area was a ... - Chihuahua Inherits Millions: How can this be?
How can a dog be a millionaire? With the recent trend of pet trusts as part of the estate planning process, some dogs have been able to "inherit" substantial wealth. The latest class of pet ... - Estate Planning for "Bo," "Socks" and all your Family Pets
When its time to sit down and do your estate planning , you want to take care of all your loved ones in the event of your death. However, up until 2008, many Californians would argue that the Probate ...
- The Descendants: Lessons Learned I
In the Academy Award nominated film, The Descendants, the main character played by George Clooney must deal with not only handling his personal family issues, but also must contend with several major ... - Simple Advice for Durable Power of Attorney Agents
So, you've found yourself named as the acting agent under general durable power of attorney. Here are a few simple guidelines to help you understand and carry out the duties required of you under ... - Divorce Renders Power of Attorney Null
In the last post I wrote about how when the principal passes away it automatically nullifies any powers of attorney that might have been in place during his/her lifetime. But there is also another ...
- Protect Passwords from Probate
As more and more people opt for keeping their finances and other affairs strictly online in this digital age the possibility of fraud and other electronically related thefts will likely grow. ... - Changes To California Probate Law - 2012
It seems like for every new year, there are going to be more new laws. And let's face it, hardly any of us are ever thrilled about that. However, this year there are some changes to the California ... - Do Not Miss Probate Deadlines
Failure to meet all of the probate requirements can lead to several unwanted outcomes. For one, you could be removed as the trustee or executor altogether. You may incur a substantial amount of fines. ...
- Don't Fear The Assessor
A lot of people are afraid of funding their real property into a trust because they are scared that there will be some unforeseen tax consequences to doing so. However, in California, let your worries ... - Trying To Avoid Gift Taxes? The IRS May Be Coming For You!
Earlier this year the IRS filed a lawsuit against the California Board of Equalization due to the board's refusal to turn over records on real estate transfers made to relatives with little or no ... - Understanding Life Insurance Trusts
Obtaining Life Insurance coverage is often a part of the estate planning process. If you have multiple life insurance policies you may want to consider a Life Insurance Trust. a life insurance trust ...
- Estate Freeze Trust To Avoid Capital Gains Tax
While researching ways in which you could use estate planning to minimize your estate and gift taxes, you might have stumble across what are known as estate freeze trusts . These types of trusts can ... - Claim Your Mega Millions With A Mega Trust
Most people dream of becoming instant millionaires, but 3 lucky people have become MEGA-millionaires after winning last month's Mega Millions jackpot worth $656 million! Let's pretend for a ... - Do Not Contest A Trustee in Bad Faith
It is probably safe to assume that many settlors have chosen a trustee because they felt they may have been the most qualified and responsible person that was up to the task of administering the ...
- Dealing with Fraud or Mistake in Estate Planning
Unfortunately, often times the elderly become a target for fraud, and this extends into the area of estate planning. If you have loved ones that are entering into their twilight years and need ... - Donative Transfers to Care Custodians of Depending Adults
Often times when an ailing person requires 24 hour care, they become quite close with their care custodian. This may result in situations where the care custodian uses the close relationship and the ... - Trust Drafting and Conflict of Interests
When drafting an estate plan you must consider many factors, including who drafts your will and/or trust. Certainly you should look for a qualified attorney. If you have concerns about how a trust was ...
- Preventing Will Contests
I'm sure many of you have seen Hollywood movies, and some commercials for that matter, where everyone is gathered around to hear the reading of the Last Will and Testament of a deceased ... - A Surviving Spouse Unsuccessfully claims ERISA Protections
In 2010, the California Appellate Court heard a case involving a surviving spouse disputing with the Decedents four children from a previous marriage. Prior to his remarriage, decedent rolled his 401k ... - Questioning the Validity of a Will because of Fraud?
If you have recently lost a loved one and suspect that their estate planning documents, namely the will was obtained by fraud, you may have grounds to invalidate the will. If you live in California ...
- Survey Says: There's A 50% Chance You Don't Have A Will
A survey conducted by RocketLawyer.com in April of this year has found that 50% of Americans with children to do not have a will. And even more shocking that 41% of baby boomers aged 55-64 also do not ... - How To Revoke A Will in California
In California, revoking a will is pretty straightforward and can be done in one of two ways provided by the California Probate Code Section 6120. Firstly, you can revoke a will by simply creating a ... - Are Will or Trust Details Being Witheld From You?
Do you believe that you might have been named in a loved one's will, like your father's, but were never shown any will or trust documents and perhaps a sibling or other family member is now ... |
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