Revocable trusts established as part of an estate plan typically contain incapacity clauses, which direct a successor trustee to assume control of the trust assets if the person who established the trust becomes incapable of making financial decisions. The person who establishes a revocable living trust is referred to as the grantor or settlor. If […]
Arbitration is an alternative dispute resolution process that is less expensive than going to court. It is also private. Trust disputes aired in court are generally a matter of public record. In arbitration, the parties to a dispute present their case to an impartial third party — an arbitrator —who makes a binding decision. Many […]
Buying life insurance ensures that one or more people or institutions you name as beneficiaries of the insurance policy will receive a lump sum payment upon your death. Having life insurance ensures that your named beneficiaries receive tax-free money that may be applied to their own needs or to your estate’s final expenses, debt, or […]
You can expect probate, the legal process of distributing and closing a deceased person’s estate, to take 12 to 18 months in California. California law requires the completion of probate within one year of an executor or administrator being appointed by the court to handle the estate. However, large or complex estates can take longer. […]
The positions of power of attorney and executor are distinct legal roles. An executor administers a person’s will after their death. A power of attorney may be granted authority to make decisions on behalf of another person in the event they are incapacitated and unable to act during their lifetime. Both are potentially powerful positions. […]
The new law firm will be named Vincere, LLP Albertson & Davidson, LLP, a California trust and estate litigation law firm, is pleased to announce its merger with Trust Law Partners, LLP, a Pasadena firm that focuses on similar areas of trust and probate law. The new law firm will be known as Vincere, LLP. […]
It’s not every day that you meet people you like. But occasionally a great group of people come together that just seem to click. It’s like that person you meet for the first time and have so much in common with—same taste in music, or similar odd taste for antique clocks. Whatever the connection, it […]
Many couples and individuals establish trusts as a means of transferring their wealth to the next generation when they die. Assets in a trust eventually transfer to named beneficiaries according to the trust’s bylaws and do not have to go through probate. An irrevocable trust is managed by one or more trustees during the grantor’s […]
California probate courts presume that a will is valid and that its instructions for the distribution of the decedent’s assets should be followed as directed by the deceased individual. However, California law allows for legal challenges if a will is invalid or does not represent the decedent’s true desires. Anyone who would be affected by […]
Certain legal processes go into motion in California to deal with the estate of a person who has died and left behind a will or trust. For instance, California probate code provides that beneficiaries of a trust must be notified by the trustee within 60 days of the trustor’s death. California law provides less-specific deadlines for filing […]
