California offers a myriad of trusts that can be established as part of your estate plan. The key is determining which ones are best for your goals and your family. Here we’re going to look at discretionary lifetime trusts – what they do and how they differ from other...
People who want to leave behind financial or securities accounts for their loved ones typically want to do this in the easiest way possible. The answer might be to establish a Totten trust, which is considered a revocable trust. Some people know of the Totten trust by...
You have worries. Those concerns have centered on your special needs child who has relied on you and your spouse to care for her since the day she was born. Who will maintain those financial and everyday responsibilities once you and your spouse are gone? How can you...
A revocable living trust is a legal entity created to serve any number of purposes. Your trust could help you qualify for Medicaid if you need it when you get older. It could provide resources for a child with special needs. It could even help you minimize any tax...
One area that is crucial for any couple is estate planning. As a same-sex couple, you may wonder if there is anything, in particular, you need to be aware of when creating your estate plan. In 2015 the Supreme Court ruled that all states must allow same-sex marriages...
Lots of people have life insurance policies as a form of protection for their family's future when they pass away. Typically, the beneficiaries of these policies are the heirs and/or spouses of the insured. The money is paid directly to those beneficiaries, without...
Are you doing your estate planning and trying to determine how you can reduce the overall value of that estate? You don’t want to lose your assets, of course, but you know that there can be some tax benefits if you have a smaller estate. Fortunately, there are...
Settling an estate often is complicated. There are so many tasks required of an estate’s executor who plays a pivotal role in settling an estate. Key responsibilities include liquidating and distributing assets, paying off creditors, settling squabbles among heirs and...
Both a living will and a power of attorney can be used to assist in planning for your future healthcare needs. Some people opt to cover all their bases by using both, while others will rely primarily on advance directives like a living will. There are some benefits,...
The name "irrevocable trust" suggests that it can never be changed, and that is a general idea. These are trusts that you’re only supposed to make when you’re very sure of exactly how you want to use the assets you’re putting into them. You can’t just alter or cancel...