Can out of State assets be held in your California Trust? A Living Trust, a common Estate Planning tool, created for a California resident is typically created under the laws of California, unless otherwise advisable. This raises the question as to whether or...
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Estate Planning
Estate Plan: Transferring an Asset to Trust After Death
Heggstad Petition: Transferring an Asset to Trust After DeathEstate Plans may not include all of the assets. Can you transfer an asset to trust after death? MAYBE.Generally, after the time of death a Living Trust or Revocable Trust becomes irrevocable. At that time,...
Estate Plan: Assets Owned Jointly or With Beneficiary Designation
An Estate Plan must consider the assets owned jointly between you and another person, such as a residence or assets for which you have designated a beneficiary, such as a life insurance policy.If an asset has a beneficiary designation, that asset will pass to...
Estate Planning: Assets Owned in Your Own Name
Lack of Estate Planning deprives you of determining who inherits from you. Those assets which you own in your individual name will be distributed to your heirs at the time of your death, as determined by California Probate Code Sections 6400-6414. When you die without...
Who Will Inherit My Estate?
Who will inherit your estate depends on whether or not you have an estate plan completed. If you have a Will or a Trust, you have designated beneficiaries that will receive the value of those assets which remain in your estate at the time of your death.If you do...
Tips for Deducting Charitable Donations
Deducting charitable donations is important for both the donor and the charitable organization. To obtain a charitable tax deduction and/or to offer to the public a charitable donation opportunity, the organization MUST be a qualified organization under the...
Reviewing and Updating Your Estate Plan
An Estate Plan can be like your car. You purchased a car that will be reliable and long lasting; however it requires periodic check ups and maintenance. Your North County attorney cannot prepare your Estate Plan to be suitable indefinitely. Changes in life...
I’ve been told I need a “trust.” What kind? Living Trust? Irrevocable Trust?
There are many different kinds of trusts. For example, there is the common inter vivos trust (which is often referred to as a "living trust"), and there are more rare variations, such as the "pet trust." While some trusts may have similarities, each is unique and may...
Why Should An Attorney Prepare a Will and Living Trust?
Why should a Carlsbad Estate Planning Attorney prepare your will and trust rather than simply go on line and prepare it yourself? Many commentators suggest that legal services are becoming a commodity and, while this may be an emerging trend, the San Diego...
What is Probate in Carlsbad and North County San Diego? And how can I avoid it?
Probate here in Carlsbad, and across California is a court-supervised process for transferring assets to a deceased person's beneficiaries, as set forth in a Will or the California laws of intestate. If you've heard about the California probate process, you know...
