When you die and leave money to your children, you won’t be around to guide them or see whether they use it wisely or poorly. However, you may already have an idea of how each child will fare. What can you do if you believe one may squander their share? Disinheriting...
A will only protects your assets so far. With just a will, your estate could be taxed or challenged and the distribution process could be delayed with probate. You may find that a trust will benefit you more. A trust can protect your interests and give you a...
When you pass away, you will leave an inheritance to the beneficiaries named in your estate plan. This could include your spouse or your children, but you can pick any beneficiaries that you would like. Many people will have an extensive estate plan that includes many...
People putting together estate plans may decide to include a trust among their resources for a variety of reasons. Some people want to leave money for a charitable cause instead of just for family members. Others may worry about a family member's divorce or mental...
Probate is a court process that occurs after a person's death to validate their will, settle their debts and distribute their assets to the rightful beneficiaries or heirs. While a will sounds like an ideal way to pass your estate to loved ones, the probate process is...
A revocable trust (often known as a revocable living trust or living trust) enables you to maintain control over assets while you’re alive. The primary purpose of a revocable trust is to avoid probate, which is beneficial to your heirs. This enables you to pass down...
If you are named as a successor trustee, you have many responsibilities. This individual must handle the trust of someone after they pass away. One of the actions you may need to take in this role is selling the grantor’s home. Remember, selling real estate is...
Your California estate plan can be as simple or complicated as you want to make it. The more family members and assets you have to consider, the more involved your plan might become. For many people in California, a simple will is not adequate for their estate...
A trust is a legal arrangement whereby a third party holds your assets on behalf of one or more beneficiaries. Trusts can be established to transfer assets to heirs seamlessly. With the proper setup, a trust may also be beneficial to your estate in terms of saving...
If you’re like most people, you probably assume that when you pass away, a family member or friend will happily give your beloved pet a good home. Maybe they’ve even told you they would. Unfortunately, too many pets end up in animal shelters because their owner died...