Category Archives: Trusts

Nobody Has Died, So Why Is This Estate Issue Going to Court?

When it comes to planning your estate, preparation is always advised over procrastination. However, one California media mogul may be taking preparation to a whole new level His estate issue could be heading to court long before he actually passes away. Taking an Estate Issue to Court Before You Die Media titan Sumner Redstone is known for many things around California. His reputation includes having legal troubles with his former girlfriends. However, one of these legal conflicts could land Sumner in California legal history. That’s because a probate trial for his estate could soon get underway, and Sumner will be…

Trust Disputes: What Can a Beneficiary Do?

A trust is an entity created by a legal document. It is used to hold assets including cash, stocks, real estate, and other property. It’s formed by a Settlor who transfers part or all of his property into the trust. The trust holds the title to the property and the trust is managed by a trustee. The trustee is responsible for managing the trust for the beneficiaries. Trusts can be a very effective way to plan an estate without needing to worry about probate issues. When a trust is properly executed and properly managed, it can be a great vehicle…

Do I Need An Attorney For A Trust Administration?

“Do I need an attorney for a trust administration?”  That depends. If you are asking whether you are required to have an attorney in order to administer a trust, the answer is “no”. On the other hand, if you are asking whether it is in your best interest to have an attorney guiding you through the trust administration process, the answer is an emphatic “yes”! With all of the responsibilities and duties a trustee has, it is to your great benefit to have an experienced attorney guiding you through the process. In addition to protecting your legal rights, working with…

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...

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…

Create An Honorary Trust To Protect Your Pet In California

Having acquired a substantial amount of funds from various start-ups, a man who is a passionate advocate of animal rights bought a large tract of land where he cares for abandoned and injured animals. Concerned about what will happen to his favorite dog, the man placed $75,000 in a trust for the care of his dog, naming a nearby bank as the trustee. The trustee was directed to use the income and principal of the trust to care for the dog for the rest of the dog’s life. Any remaining funds were to be distributed to an environmental non-profit group….

A Trustee’s Duties In California

A man was cited as an executor of his aunt’s estate. The aunt passed away leaving a distributable estate consisting of $125,000 cash. The man probated the will and was appointed executor.  Then, the man borrowed $90,000 in cash from the estate ad and invested the money in a natural gas operation, which turned out to be lucrative. Within three months of making the investment, the man sold the interest in the mining operation for $180,000 and repaid the estate the $90,000 he borrowed. However, the man retained the balance of the proceeds for his personal use. Performing duties and…