Bay Area Estate And Tax Planning Law Firm
When you leave assets to beneficiaries, they are known as bequests. In many cases, people will write their estate plan so that all of the bequests are relatively equal. Adult children may share ownership of real estate property, for example, or a parent may split up...
During estate administration, personal representatives address numerous financial issues. They communicate with creditors and cover probate expenses. They may also have a responsibility to address income taxes. Filing an income tax return and retaining adequate...
Obviously, estate planning helps people address what will happen to their assets after they die. Wills and other estate planning documents can protect dependent family members and reduce the likelihood of conflict among beneficiaries after an individual's passing....
Serving as a trustee involves many time-sensitive tasks. You may feel confident managing finances, but trust administration can still feel unfamiliar. After someone passes, your duties start immediately. You must follow the schedules set by the trust and California...
Accusing someone or an institution of breaching their fiduciary duty is a serious allegation, and one that also demands strict proof — as it should. Just what does it take to prove that someone breached their fiduciary duty? There are often some misconceptions. Losses...
Trustees and personal representatives take on many responsibilities. They have to communicate with beneficiaries or heirs. They also need to properly manage the assets in the estate or trust. In some cases, their role may require that they sell trust or estate...
A special needs trust is a type of trust you can use in your estate plan. It allows you to set aside financial assets. You name an individual who has special needs as the beneficiary of the trust, and you also select a trustee who will handle the fund for them,...
To some people, estate administration is synonymous with probate court hearings. Others might picture the process of distributing the deceased person’s property to beneficiaries or heirs. Estate administration does require the management and distribution of estate...
For the average person in California, appointing a spouse, sibling or the eldest child as trustee is the automatic choice. However, what many do not realize is that the obvious choice may not always be the best one. Defaulting to this option can lead to delays,...
Imagine suddenly being unable to make decisions for yourself due to incapacitation. Without a plan, critical decisions about your medical treatments, finances and other personal affairs will fall into the hands of strangers or overwhelmed family members. This is where...