Tag Archives: estate planning lawyer

What Are Durable Powers of Attorney?

When someone suffers a severe accident that results in a person being unable to make any medical or financial decisions regarding their care, family members may find themselves making tough decisions for their loved ones well-being. In these situations, having a person with power of attorney could help in managing the person’s medical and financial needs by a trusted party. A person with power of attorney could help families during extremely challenging times. However, what does it really mean to have a power of attorney and what powers does that person have? A power of attorney is a document that…

Do Healthy People Need Living Wills?

A living will is not just for people who are in poor health. Healthy people also need living wills. The Washington Post recently featured an article on why it is crucial that both people in poor health and healthy people alike need to have a living will. If I’m Healthy, Why Do I Need a Living Will? A living will enables you to lay out what type of medical treatment you want to receive in case something happens to you and you are unable to make decisions for yourself at that time. For instance, if you want a ventilator or…

Should I Include End-of-Life Care in My Estate Plan?

End-of-life care is a much bigger deal than many of us realize, and should always be included in your estate plan. The recent passing of music legend Tom Petty serves as an example of how important it is to include end-of-life care in your estate plan. Why You Should Include End-of-Life Care in Your Estate Plan Per CNBC, after Tom Petty was found in cardiac arrest, he was rushed to the hospital for treatment. Eventually, his family had to decide whether to keep him on life support or not. They had him taken off life support, because Petty had included…

Developments Affecting Trusts, Estates, and Conservatorships

2015-05-18 SCCEPC Recent Dev. Materials  

What The Kwok! I Killed My Client’s Title Insurance

2015-05-15 Title Insurance

Estate Planning Year in Review

Continuing Education of the Bar (CEB), San Francisco, CA (1/23/15)

California Probate Court

Probate is the legal process involved in administering the estates of deceased persons. The process is supervised by the probate court, which protects the interests of persons involved in probate court matters. The probate court appoints a personal representative to administer the estate and report to the court. The personal representative may have to be bonded in order to ensure that the assets of the estate are protected. The probate court that will supervise administration of an estate is the one in the county where the decedent lived at the time of death. Probate courts also handle other types of…

Estate Planning and Gift Tax

A gift tax is a tax that a person must pay to the federal government when he or she gives a gift at a value above the exempt amount. The exempt amount in 2012 was $13,000. There is no California State gift tax. Certain gifts, such as gifts to a charity and gifts to a spouse, are not subject to a gift tax. The recipient of a gift does not have to pay a gift tax. It is important to be aware of this information about gift taxes in planning your estate, because it means that you can make certain gifts…

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…

What are Your Rights When Contesting a Will in California?

Will and trust contests in California are subject to California statutes and you must know the rules of the law to be successful when contesting or defending against the contest. California Probate Code Sections 8250–8254 lay the ground rules for contesting wills. While you should have a lawyer handle the contest for you, a basic understanding of the process is helpful. You can contest a will for many reasons, such as when you believe your loved one signed the will under duress or undue influence. Or perhaps you believe misrepresentation or fraud occurred or that the will had been revoked….