Entering the world of Wills, Trusts and probate can be confusing. One of the first questions people often ask is: what is the difference between a Trustee and an Executor? To put it simply, a Trustee is the person who oversees a Trust, while an Executor is the person who oversees a Will, which often
In Trusts we Trust: When should you create a Trust in California?
I have heard it a million times before: “I don’t need a Trust because ____________” you fill in the blank: I don’t have enough money, I won’t care when I’m dead, California probate is easy, my wife and I own everything in joint tenancy…there’s many, many excuses and misinformation regarding Trusts in California.
In California…
Transferring Wealth to Generation X-Box
To be honest I have lost track of how we refer to different generations. I know baby-boomers and generation X, I’ve heard tell of generation Y, but I’m lost after that. So let’s just call everyone under age 21 as of now “generation X-Box.” How do you deal with the transfer of wealth to generation…
Which Will Wins the Race? The Documents Required For a Proper Will Contest Lawsuit.
There is an old saying in the law that goes “first in time, first in right.” For Wills, the opposite is true—last in time, last in right. Typically the last valid Will wins. But what if the last Will is not valid? That could allow an earlier Will to apply instead. And it is this…
Business Agreement: Say What You Mean and Mean What You Say
When you practice in the area of Trusts and Wills, you are often called upon to resolve other legal problems that pertain to clients’ assets such as business law, real property law, family law, etc. So here is a post discussing a few business issues I have dealt with recently. This same post was published in our…
The Intentionalities and Formalities of California Will Creation
When creating a California Will there are a few basic steps that must be met from a legal perspective in order for that Will to be legally valid. In their simplest form, the two areas required for a valid California Will are the necessary “Intentionalities” and the required “Formalities.”
Intentionalities:
Intentionalities evidence a person’s intent…