If a decedent's trust does not align with his or her final wishes, it may raise questions for his or her family and friends. Can a trust be challenged? And if so, what are the grounds for contesting a trust? While it is possible to contest a trust, only those with a financial interest in the outcome may do so, and it can only be done on specific grounds. This article will provide you with information as to what circumstances may warrant a challenge to a trust. It also should be noted that there are many different types of trust, and not all trusts work in the same way. Having said that, there ..read more

A family member of one of our clients decided to take the DIY approach to estate planning and use LegalZoom to create her own estate plan to “save money”. She was confident that she had done all the necessary research to create a comprehensive plan that would meet her needs. However, when she compared her documents with the estate plan documents that we had prepared for our client, she was very disappointed. She quickly realized the lack of expertise and thoroughness that went into her own documents. She wished she had consulted with us from the beginning to ensure that her estate plan was up ..read more

Should you become incapacitated, someone will need to handle your bank accounts and pay your bills, but who will that be? It will either be someone you select, through a Durable Power of Attorney, or a conservator whom the court will appoint on your behalf. If you are incapacitated and have not done any estate planning, the court will appoint a conservator to act on your behalf. If you have any friends or loved ones who are willing to accept this responsibility, they can petition the court and hope that the court appoints them. If not, the court will appoint a disinterested third party who do ..read more

Investopedia defines Estate Planning as: “The preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death.”[1] Many people incorrectly believe that they do not need an estate plan, however, if you have an estate, then you need a plan. And almost everyone has an estate. Your estate consists of everything you own including your: personal belongings, vehicles, investments, bank accounts, life insurance, retirement accounts, and anything else you own. Oddly enough, everyone also has an estate plan. The question is who drafted it? If you have t ..read more

Probate, in the context of California law, is a legal process that plays a crucial role in the distribution of a deceased person's estate. It involves the validation of a will, identification of assets and liabilities, notification of creditors, and ultimately the distribution of assets to the rightful beneficiaries. However, it's essential to understand that probate applies whether an individual passes away with a will (testate) or without one (intestate). The probate process consists of various stages, and understanding each of them is crucial for anyone involved: Validating the Will: In th ..read more

For retirees, estate planning is a crucial step in securing their legacy and ensuring their loved ones are taken care of after they pass away. One common estate planning tool is a trust, which allows retirees to manage and distribute their assets efficiently. However, when the settler(s) of a trust pass away, certain important steps must be taken by the surviving trustee or successor trustee. In this blog, we will explore what happens when the first and second settler(s) of a trust die and the specific considerations for the surviving trustee. When the First Settler of a Trust Dies - For Marr ..read more

In California, disputes over trusts and estates can be complicated and emotionally charged legal battles. Beneficiaries often find themselves in disagreement with trustees and executors when they believe that these fiduciaries have failed to uphold their duties. These duties include managing and distributing the estate's assets with reasonable care and skill, avoiding conflicts of interest, and acting in the best interests of the beneficiaries. While the California probate court has the responsibility of resolving these disputes, mediation and arbitration can also be effective options. To ens ..read more

A 120-day Trust Letter (AKA Notification by Trustee pursuant to Probate Code 16061.7) is a document that is issued by a trustee to notify all beneficiaries of the trust and any other heirs of the deceased Settlor(s) that the trust is now irrevocable and of their right to file a claim against the trust within 120 days of the date of the notification letter. This document is important because it provides the potential claimants with a formal notification of their right to file a claim against the trust and informs them of the timeframe in which they must do so in order to preserve their claim ..read more

It can be very overwhelming when we experience the death of a loved one. If someone close to us, like a parent passes away without establishing a trust, their assets will enter a process called probate. The legal process known as probate takes place after someone dies. This process has been put in place to ensure that a person’s possessions are given to the right people, and any debts that may be owed are fully paid. When Is Probate Necessary and When Can I Avoid Probate? Probate can only be fully avoided in certain situations, such as: 1. All the decedent’s assets are held by a properly draf ..read more

In California a will may not be the best way to pass on your estate because you don’t avoid probate, which can be very expensive. A will becomes public information upon your passing which means that anyone who wants to know the value of your estate will have access to that information. Additionally, a will may be easily contested. So, what is the best way? The answer is through use of a living trust. A trust is a contract between you and the beneficiaries, but you are in full control, meaning you can change it any time you want. There are two phases of creating a trust. Phase One: Create the T ..read more