Individuals often set up trusts so that their heirs will not need to go through the probate court to receive their assets. As noted by NerdWallet, by creating a trust, you become its grantor and can transfer your assets into it. If you own real estate, for example,...
In California, the law requires a standard will to have at least two witness signatures. These people must also meet legal requirements. If you fail to have the proper witness, your will may not be valid. The court could throw it out in probate, which means your...
Despite popular misconceptions, trusts are an essential estate planning tool for many people. You do not need to be ultra-wealthy or have numerous assets to make use of a trust. When used in conjunction with a will, the right trust can safeguard your estate even...
Millions of Americans have no will or final testament. Some Americans believe that estate planning is something they can put off until they are closer to retirement. Some Americans with smaller estates believe that estate planning is something only wealthy people need...
California residents who are thinking about estate planning will likely be instructed to create an advance directive. There are two main types that include the medical power of attorney and the living will. Understanding how to write one of these directives can help...
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...
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...
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....
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...
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...
