There’s a lot beneficiaries can do to set things right, but it’s not as easy as you may think. Often beneficiaries will say “isn’t the Trustee breaking the law?” The answer is yes, but who is going to stand up and hold the Trustee responsible for breaking his or her duties as a Trustee? The […]
If you look at a Trust document created by a husband and wife, you will often see there are various sub-Trusts created after the first spouse dies. The purpose of these sub-Trusts is to divide up the assets, sometimes for tax purposes and sometimes for protection purposes. For example, when families have children from different […]
In our latest post on Trust uses and abuses, we are back discussing The Have’s. These are people named in a Trust document receive a gift, but who can’t seem to get it. Many Have’s know they are entitled to a portion of the Trust because they are named in the document. They are either […]
The Have’s are the people named in a Trust document to receive a gift of some type, but they are not receiving it because they are facing a bad Trustee who is not treating the beneficiaries equally, not making required distributions, not giving you information, and using the trust money to hire lawyers to defend […]
Trusts Wouldn’t it be nice to combine the best features of joint tenancy with a Will? That’s where Trusts come into play. Trusts are now one of the most widely used devices to transfer assets from parent to child. Over the course of this series you are going to learn how Trusts are used, and […]
Did you know that Trusts didn’t used to be so widely used? In fact, the widespread use of Trusts for planning the transfer of assets from parents to children is a fairly new development. It wasn’t that long ago that everyone passed their asset on to the next generation using the centuries-old method of Last […]
There are times when people want their home kept in the family forever. Can Trust beneficiaries keep the home for mutual use instead of selling it? The Trustee and Beneficiaries must first check the terms of the Trust document. If there are no restrictions stated in the Trust pertaining to selling the home, the Trustee […]
Parents do not have to treat children equally in estate planning documents (Wills and Trusts). Under California Trust and Estate law, creators of a Will or Trust may leave their assets to whoever they wish, including non-family members. There is no requirement that parents provide equal treatment to their children under a Trust or Will. […]
If you want to understand Trusts, you need to have a solid grasp on the terminology. One of the first things a person needs to understand about Trusts is the difference between a Trustee and a Trust beneficiary. When a Trust is created, it becomes its own legal entity. A Trust can only operate through […]
If you are filing a lawsuit pertaining to an inheritance under a Trust or Will in California there are deadlines that must be followed. These deadlines are called statutes of limitation. A statute is a written law passed by the legislature. A statute of limitations is a law prescribing a time deadline for bringing each […]
