One of the biggest decisions you will make when creating your Living Trust is choosing who will be your Trustee. The Trustee is the administrator of your Trust assets. The Trustee will collect and manage your assets, pay your debts, and distribute your assets to your beneficiaries after you pass away. The Trustee should be [...] The post Choosing Your Trustee appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

Unlike financial assets, which can generally be divided easily among your children or grand-children, tangible personal property, like a wedding ring, is unique. Families fight over everything from ownership of a valuable painting, to a grandfather clock, to Dad’s gun collection, to who gets Grandma’s wedding ring. Sometimes the object in question is an item of substantial monetary value, but more often the appeal is sentimental. Families get emotional about items of personal property, like a wedding ring, that represent the person who has passed. The post Grandma’s Wedding Ring appeared first ..read more

The word “probate” often causes a severely negative reaction. For many people — especially those with large estates — estate planning attorneys recommend keeping property out of probate whenever possible. The probate system was ultimately established to protect property, and protect those people entitled to inherit it. In a few cases, probate may even work to an advantage. Let’s look at the pros and cons of going through probate. The post The Pros and Cons of Probate appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

It is very important to avoid probate. You may think that a Last Will avoids probate after you pass away – but it does not. Everyone pictures a scene out of a movie where the executor reads the Will to the family, and then everyone gets their inheritance. It is never that simple! Unless your estate is valued at less than $184,500, the Probate Court must be involved when you use just a Last Will to distribute your assets after you pass away. The post How to Avoid Probate appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

There are different ways for people in California to own real property, such as land or a house. California real property can be held by a sole owner or by co-owners. Co-ownership involves two or more persons acquiring and holding title together. The post Property Ownership in California appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

Given the complexities of most estate plans, you’ll want to work with a qualified estate planning attorney. You may also find it helpful to work with other professionals, such as a financial planner, an insurance agent, or an accountant. But your attorney should always be the one who prepares your estate planning documents. The post Top Ten Reasons to Create an Estate Plan appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

Should you create a last will or a living trust? In determining if you should create a last will or a living trust, it is important to understand what happens after you pass away, including the legal considerations, the role of your executor, and the distribution of your specific assets. The post Last Will vs. Living Trust appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

A document that I often prepare for my clients as an essential part of their estate plan is the Advance Health Care Directive. This document is important so your wishes regarding medical decisions and end-of-life decisions will be known to your loved ones and medical providers. The post What is an Advance Health Care Directive? appeared first on The Law Offices of Eric A. Rudolph P.C ..read more

A durable power of attorney allows your property and financial affairs to be managed the way you want in the event you become incapacitated. Unless you have a properly drafted power of attorney, when you become incapacitated, it likely will be necessary to go to court and have a guardian or conservator appointed for you.  This conservatorship process is usually lengthy and emotionally draining - not to mention that the person chosen to be your conservator may not be the person you want.  The post What is a Durable Power of Attorney? appeared first on The Law Offices of Eric A. Rudolp ..read more

One of the biggest decisions you will make when creating your living trust is choosing your successor trustee. I always tell my clients it is important to select a successor trustee they count on, as that person will ultimately be responsible for protecting and distributing your assets to your loved ones. The following are a few factors you should consider when selecting your successor trustee: The post Successor Trustees appeared first on The Law Offices of Eric A. Rudolph P.C ..read more