Recent Posts in Trusts Category
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Posted on Dec 22, 2011 By Los Angeles Estate Planning Attorney
If you are thinking of leaving a minor a substantial inheritance you may want to consider leaving it to them in a trust for their entire lifetime. The benefits of creating a trust like this are: - You ...
Continue reading "Inheritance To Minors - Lifetime Trust" »
Posted on Dec 21, 2011 By Los Angeles Estate Planning Attorney
If you are considering leaving an inheritance to minor beneficiaries you will need to plan carefully as property left to minors will most likely be subjected to some kind of court-supervised ...
Continue reading "Inheritance To Minors - Staggering A Trust" »
Posted on Nov 28, 2011 By Los Angeles Estate Planning Attorney
So you want to pass on some assets to your child without their spouse being able to have any control over these assets? Why would you want to do that? Well, the truth is, most parents can see the ...
Continue reading "Protecting Assets Gifted to Your Children" »
Posted on Nov 2, 2011 By Los Angeles Estate Planning Attorney
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 ...
Continue reading "Are Will or Trust Details Being Witheld From You?" »
Posted on Oct 27, 2011 By Los Angeles Estate Planning Attorney
So, what will become of Steve Job's estimated $7 BILLION estate? Many people are well aware of his stake in Apple, but many might not have known that Jobs had a big bite out of Disney as well. He ...
Continue reading "What Will Happen to Steve Jobs' Slice of Apple?" »
Posted on Aug 15, 2011 By Los Angeles Estate Planning Attorney
Maybe you started your life out with very little, you worked very hard your whole life, and obtained a sufficient amount of wealth. And now you'd like to give some of that wealth back to charity ...
Continue reading "Can I Leave Money To Charity When I Die?" »
Posted on Jul 27, 2011 By Los Angeles Estate Planning Attorney
Unfortunately, when celebrities die, their controversies don't always go with them. Such is the current case involving the estate of Farrah Fawcett and her ex-boyfriend and father to her son, Ryan ...
Continue reading "Farrah Fawcett - An Important Lesson in Trust Funding" »
Posted on Jul 15, 2011 By Los Angeles Estate Planning Attorney
Once you've got your Living Trust set-up, hopefully using a knowledgeable Estate Planning Attorney , you are going to start funding that trust. Funding is when you transfer assets such as, real ...
Continue reading "Funding The Trust" »
Posted on Jul 12, 2011 By Los Angeles Estate Planning Attorney
When making payments from a trust it is important to make sure those payments are being made properly from either the trust principal or the trust income. The property that the trust owns is called ...
Continue reading "Must Know - Trust Principal vs. Trust Income" »
Posted on Jul 11, 2011 By Los Angeles Estate Planning Attorney
If you want to have an accurate measure of the value of your estate, you should make sure to obtain an appraisal of the current value of your assets. The most common items for which an appraisal ...
Continue reading "Appraising Your Trust Assets" »
Posted on Jul 6, 2011 By Los Angeles Estate Planning Attorney
If you want to make major changes to your Revocable Trust that cannot be achieved through a series of amendments, then you may be considering revoking the entire trust. If you've set up your ...
Continue reading "Revoking vs. Restating a Trust" »
Posted on Jul 5, 2011 By Los Angeles Estate Planning Attorney
There may be several reasons as to why you would want to make changes, or amendments , to your trust. From the time you created your trust, you may get divorced and remarried. You may have more ...
Continue reading "Amending A Trust" »
Posted on Jul 1, 2011 By Los Angeles Estate Planning Attorney
Managing your estate is an ongoing process and knowing when to update your estate is essential. The following checklist outlines some of the most common reasons when an updated estate plan may be ...
Continue reading "Updating Your Estate Plan - Checklist" »
Posted on Dec 24, 2010 By Los Angeles Estate Planning Attorney
There are many benefits to drafting a living trust. Most people aim to set up a living trust to avoid a formal and costly probate or to put a mechanism in place to manage their finances should they ...
Continue reading "More Reasons to Consider Setting Up a Living Trust" »
Posted on Dec 23, 2010 By Los Angeles Estate Planning Attorney
A revocable inter vivos trust, commonly referred to as a "living trust" is created during the settlor's lifetime and that the settlor has the power to revoke while still living. The trust is described ...
Continue reading "Why Most People Consider Setting up a Living Trust" »
Posted on Dec 22, 2010 By Los Angeles Estate Planning Attorney
A testamentary trust is a trust that is created by a will and that does not take affect until after the death of its' creator, referred to in legal terms as the testator. (Blacks Law Dictionary 5th ...
Continue reading "When is a Testamentary Trust Right?" »
Posted on Dec 17, 2010 By Los Angeles Estate Planning Attorney
In 2009, the Second District Court of Appeal held that the beneficiary's petition for modification of a special needs trust provision does not violate the no contest clause of the trust, even if the ...
Continue reading "A Beneficiary's Petition for Modification of a Trust did not violate teh No Contest Clause" »
Posted on Dec 13, 2010 By Los Angeles Estate Planning Attorney
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 ...
Continue reading "Reasonable Attorneys' Fees may be Paid out of a Trust" »
Posted on Dec 7, 2010 By Los Angeles Estate Planning Attorney
Certainly, the decision to start an estate plan must be focused to your particular needs. For example, if you or a loved one is receiving government benefits you may require a different type of trust ...
Continue reading "Pick the Estate Plan that Works Best for YOU" »
Posted on Nov 24, 2010 By Los Angeles Estate Planning Attorney
Now that we are nearing the holidays, the taxable year is also coming to a close. This may also be a time that people think to reduce their taxable income. One way to reduce the amount of taxes you ...
Continue reading "The Season for Charitable Trusts" »
Posted on Nov 23, 2010 By Los Angeles Estate Planning Attorney
There are many ways to care for your parents as they enter their twilight years. You may chose to assist your parents by setting up a living trust , and name yourself as trustee to manage your ...
Continue reading "How Your Estate Plan can take care of Dependent Parents" »
Posted on Nov 12, 2010 By Los Angeles Estate Planning Attorney
The first thing you need to do to prepare for your estate plan is to make a list of your known assets. You should take an inventory of all your assets and determine how you would like them distributed ...
Continue reading "Make a List of YOUR Assets to Plan Ahead" »
Posted on Nov 11, 2010 By Renee Linares
In November 2010, the California Court of Appeals ruled on whether a grandparent's trust intended to include their grandchild pursuant to the definition of "issue' in their trust. Charles and Serene ...
Continue reading "How do YOU define Issue?" »
Posted on Nov 10, 2010 By Renee Linares
If you are considering an estate plan to ensure that your children and grandchildren are taken care of, you must plan for all possibilities. Many grandparents want the opportunity to take care of any ...
Continue reading "Draft your Trust to Include ALL Intended Beneficiaries" »
Posted on Oct 29, 2010 By Los Angeles Estate Planning Attorney
If you own real estate, whether large or small you should consider setting of a revocable living trust to manage your assets during their lifetime. A revocable trust is a trust where the settlor ...
Continue reading "Reserve the Right to Change your Mind: Revocable Living Trusts" »
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