Discretionary decision making authority over the administration of the trust or its assets directly can be delegated or reserved to the settlor(s). Persons with discretionary decision making may include the trustee(s), trust protectors, trust directors, and holders of powers of appointment. Provisions for trust protectors and trust directors, however, is not typically seen in most […]
posted on: October 24, 2025
Read MoreA successor trustee has authority as trustee when the settlor of the trust becomes incapacitated or dies. A trustee has fiduciary (legal) representative authority and powers to manage and control trust assets according to the terms of the trust for the benefit of the trust beneficiaries. When persons as settlors establish their living trust a […]
posted on: October 10, 2025
Read MorePeople are often think that establishing a living trust and signing a power of attorney is all that they need to do to control their assets in the event of incapacity and eventual death. This can be a costly misunderstanding. It is necessary to retitle assets to the living trust and to update designation of […]
posted on: September 25, 2025
Read MorePeople do not plan to fail, but people often fail to plan. This is the case with unintended estate planning outcomes. Let us discussion some common scenarios. Do one or more children live at home? If so, what is to come of the children in the event that the parent is disabled or dies? Does […]
posted on: September 15, 2025
Read MoreCalifornia is a Community Property state that recognizes both community and separate property assets. Assets that are inherited by a married person are separate property (i.e., owned and controlled by the inheriting spouse alone) unless it is commingled (e.g., money deposited into a joint account) or re-titled (e.g., real property) to include the married person’s […]
posted on: September 2, 2025
Read MoreCalifornia offers various estate planning approaches for real property, including primary residences, vacation homes, rental properties and vacant lots. That is, the Transfer on Death (“TOD”) Deed, a Joint Tenancy or Community Property with Right of Survivorship Deed, a Life Estate Deed, a Will or a Trust. Which applies and is best suited depends on […]
posted on: August 14, 2025
Read MoreOn January 1, 2026, Medi-Cal will restore the asset test, as it existed in 2022, to determine a person’s eligibility to receive, or continue to receive, community based Medi-Cal and skilled nursing residential care Medi-Cal. The restored asset test does not apply to the Expansion Medi-Cal created by the Affordable Care Act which has no […]
posted on: August 6, 2025
Read MoreA complete estate planning binder always includes an Advance Health Care Directive (“AHCD”). The AHCD authorizes a person’s agent to make important health care decisions, when the person cannot make them for him or herself, and gives guidance on the patient’s personal preferences. People’s expectations and reliance on the AHCD needs to be informed by […]
posted on: July 17, 2025
Read MoreWhat options are available to prevent a person who is nominated to serve as successor trustee from becoming trustee if he or she proves to be a bad choice? A lot can change between when the settlor signed their living trust and when the settlor is replaced as trustee at incapacity or death. The named […]
posted on: July 17, 2025
Read MorePotential and actual conflicts of interest are important considerations when selecting who to serve as successor trustee as they are being trusted with the authority to manage, disburse (i.e., use assets to pay expenses) and distribute (make gifts of) trust assets pursuant to the terms of the trust. Let us discuss. A trustee’s primary duty […]
posted on: June 19, 2025
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