In its most basic form, a trust is a three-party financial arrangement. Those three parties are the trustor, the trustee and the beneficiary. Trusts in California and around the country are created by a trustor and managed by a trustee. They hold assets for the...
Things to consider when incorporating a trust into your estate plan
Though California is an expensive state in which to live, it is also home to plenty of residents who manage to acquire enough property and other assets to justify placing them in a trust. Revocable vs. irrevocable trusts There are several options when it comes to...
Charitable giving and estate planning
When it comes to supporting a charitable organization, philanthropically minded individuals have many options from which they can choose. Some people wish to donate their time or expertise while other people wish to donate their assets, be they financial or otherwise....
Using pour-over wills to transfer assets to a trust
One of the challenges of using a trust to transfer assets to beneficiaries is that people tend to acquire new assets and property before they pass away. A trust must be updated to include these assets. Otherwise, when the owner dies, these assets will not be moved to...
Who should you choose as an executor for your will?
If you are a California resident and have already created an estate plan, you are well ahead of many people. One of the key steps is to choose an executor for your estate. Now that you have done the work to plan for the distribution of your assets and wealth after you...
What is a special needs trust?
California is home to many children with special needs. If you are the parent of a special needs child, establishing a special needs trust for them can set your mind at ease that the resources will always be there to provide your child with the care they need, even if...
Understanding a pour-over will
At The Law Offices of Richard Wingerden, we help clients start an estate plan and also keep it updated as their needs and wishes change over time. We know how important it is that all the elements of your estate plan work together to accomplish your overall long-term...
Wills and trusts can both help with estate plans
Many California residents want to make sure that their loved ones will fare well after they are gone. As a result, they often make provisions in efforts to ensure that their families will not feel at a complete loss as to how to handle certain affairs. In particular,...
