If you have been notified that you are the beneficiary of someone’s last will and testament or a trust, congratulations to you. Someone has thought well enough of you or your organization that they want you to benefit from the distribution of their assets. A beneficiary is a person or entity designated to benefit from […]
There are several reasons a potential beneficiary might challenge a will, such as because the decedent lacked capacity and was manipulated to write the will a certain way. Sometimes, there are multiple wills, and evidence indicates that the court should recognize one instead of the others. Regardless, it is difficult to have a legally drafted […]
Estate planning is a necessary exercise for anyone who wants to avoid leaving their family with potential legal problems upon their death. With a valid estate plan, you legally document how your assets are to be managed and distributed if you become incapacitated or die. Wills, trusts, powers of attorney, and living wills are some […]
A U.S. citizen or Green Card holder does not have to pay U.S. taxes on an inheritance from an individual living outside the United States. However, there are IRS reporting requirements when receiving an inheritance from a nonresident alien and/or a non-U.S. domiciled person. Inheriting money or other assets can be a complex process when […]
Best Dressed Ball raises more than $1.7 million for the American Cancer Society Attorneys Stewart R. Albertson and Keith A. Davidson were among more than 2000 guests in attendance at the EXCEL Baton Rouge Best Dressed Ball, a top fundraiser for the American Cancer Society. As the name of the glamorous event suggests, the attendees […]
Individuals who act as administrators of wills and trusts in California have a fiduciary duty to the beneficiaries of those wills or trusts. If they were to breach that fiduciary duty, they could face legal sanctions such as removal from responsibility for the will or trust and be ordered to pay damages to beneficiaries they […]
Despite its name, an irrevocable trust is not set in stone. Under the right circumstances, you can terminate, dissolve, or modify an irrevocable trust in California. However, doing so is usually not as simple as terminating or modifying a revocable trust. Under some circumstances, such as fraud or undue influence in the creation or revision […]
It’s not unusual for a family that has recently come together in grief over the death of a loved one to be divided by disagreements over the distribution of assets from the deceased individual’s estate. Inheritance disputes between siblings or other family members can arise if the deceased’s will does not distribute assets equally or […]
In most cases, a trustee cannot remove a beneficiary from a trust that the trustee manages. But the law is designed to address all potential scenarios. There may be circumstances in which a trustee may be able to make it happen. A trust creates a fiduciary relationship in which one party, known as a settlor, gives another […]
A house is most people’s most valuable investment and the primary means of passing wealth from one generation to the next. When the sole owner of a house dies, they have often been widowed for some time and may have failed their will or trust to ensure they can pass their property on to their […]
