Understanding The Benefits Of A Revocable Living Trust

Of the instruments available to avoid probate, the revocable living trust is perhaps the best and most flexible option available. You may wonder what about a trust makes it special? The answer is very simple. A normal will substitute is a single account, and doesn’t have the flexibility of a trust. A single account like a life insurance policy or a 401k is like a box; it can only contain the assets within its interior walls. A trust is more like an umbrella that can extend to cover all of the boxes you can possibly collect.  A trust can cover all of the life insurance...

When Does An Estate Require Probate? Navigating Difficult Concepts in Difficult Times

One of the first obstacles which must be tackled in determining when an estate needs to be probated, is understanding the basic terminology associated with estate planning. Probate is simply the system of supervision provided by the court for distributing the decedent’s property at death.  Paramount in understanding the functions of probate, is understanding that each state has its own probate laws.  Some states follow the Uniform Probate Code (UPC), and some follow derivatives of common law.  The information shared here is not intended to substitute actual research of your state’s laws concerning probate, but is instead intended to give a general...

Why Do I Need an Estate Planning Attorney For An Estate Plan?

Many online businesses offer wills and trusts through an automated process. The online process generally consists of a fillable questionnaire that, once answered generates an estate plan without the assistance of an estate planning attorney. A good estate plan consists of more than just a will or a trust. Further, if you do not know what the questionnaire is truly asking you, it is difficult to generate an estate plan that accurately reflects your intentions. In order to provide the maximum benefit to your loved ones and to achieve favorable tax consequences, an estate planning attorney will construct an estate...

Estate Planning in California: What is a Trustee?

If you are considering estate planning in California you likely have a lot of questions. This is normal, you should have a lot of questions. Estate planning in California does not have to be stressful or worrisome. With the assistance of a knowledgeable and experienced estate planning attorney in California, you can put an estate plan together that properly reflects your concerns and intentions. If you have questions about estate planning in California you should contact an experienced California estate planning attorney. A trustee is a person that holds legal title to property that belongs to a trust for the...