When a person dies, the decedent’s loved ones must deal with the decedent’s property. The first question the decedent’s family members need to ask is: did the decedent have an estate plan in the form of a Will or a Trust?
If the decedent did have an estate plan, the terms of the Will or
How do Trust beneficiaries know how much they are entitled to? Often, rather than stating a specific dollar amount for each beneficiary, the Trust will state that each beneficiary is entitled to a certain percentage of the Trust estate. This can cause frustration if the Trustee will not provide the value of the Trust assets.
Who is liable for Trust debts? Is it the Trustee, the Beneficiaries, or the Trust itself? It helps to remember that a Trust is a separate legal entity. The Trustees and beneficiaries are not personally liable for debts owed by the Trust.
The Trustee is acting in a fiduciary capacity. The Trustee is
A Trust is an entity that holds assets. Living Trusts are set up to benefit the Trust creators, (also referred to as the “Settlors,” or “Grantors,”) during their lifetimes. Living Trusts also provide the terms for management and distribution of the assets once the Grantors pass away.
Living Trusts are typically drafted by an
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Hi, this is Keith Davidson at Albertson & Davidson. And in this video, I want to discuss step-parents. And I don’t mean to disparage step-parents, there’s a lot of very good step-parent and step-child relationships out there. But, there’s also some
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This is Stewart Albertson with Albertson and Davidson, and I want to talk to you about an issue that we do see from time to time called advances on inheritance. Advances on inheritance are essentially a loan that mom or dad
Casey Kasem’s passing is a sober reminder of how people with estate plans can still be subject to bitter Court disputes in their golden years. Prior to Mr. Kasem’s death his wife and children (from a prior marriage) were involved in a bitter conservatorship dispute. Mr. Kasem had apparently prepared a healthcare directive naming his
If you’re going to do battle in Probate Court do you need to know more about Trusts and Wills or more about litigation? The obvious answer is you need to know about both. And while knowing about Trusts and Wills is critical, knowing a thing or two about civil litigation is also a must.
For example
Every beneficiary of a California Trust and Will has a basic right to information. They have a right to see the Trust or Will document(s), they have a right to asset information, they have a right to full disclosure. Yet not every Trustee or Executor complies with requests for information. This video describes a beneficiary’s basic right to information.
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