Many blind or disabled persons receive needs based government benefits — like SSI and Medi-Cal — whose stringent income and resource limitations prevent families from gifting much needed money directly. Persons wishing to assist them often establish Special Needs Trust or Pooled Special Needs Trusts. Now ABLE accounts help some blind and disabled persons to […]
posted on: June 26, 2017
Read MoreSome people, quite naturally, do not want their family to know the contents of their Revocable Living Trust until after they die. So just who gets to see a copy of a person’s Living Trust, and when do they get to see it? Initially the Settlor(s) and his or her Attorney are the only ones […]
posted on: June 12, 2017
Read MoreSome people, quite naturally, do not want their family to know the contents of their Revocable Living Trust until after they die. So just who gets to see a copy of a person’s Living Trust, and when do they get to see it? Initially the Settlor(s) and his or her Attorney are the only ones […]
posted on: May 30, 2017
Read MoreMost married people leave their estate to their surviving spouse and children. Typically, when the children are from the current marriage, there is no issue with leaving everything to the surviving spouse. That is not always the case with blended families. Some married people with children from a prior marriage feel that the […]
posted on: May 15, 2017
Read MoreMarriage entails both ethical and legal responsibilities and duties between spouses. In California, the law requires a married person to act most honestly and fairly towards his or her spouse. The Family Code specifically provides that, “[t]his confidential relationship [of marriage] imposes the duty of the highest good faith and fair dealing on each spouse, […]
posted on: May 1, 2017
Read MoreTitle means ownership and control. How title is conveyed varies with the asset type. With real property title involves the Chain of Title from the original owner to each subsequent owner. Title is typically conveyed by either a Quitclaim Deed or a Warranty Deed signed by the Grantor(s). Title “vests” (transfers) in the […]
posted on: April 17, 2017
Read MoreLay people often agree to act as an Agent or Trustee on behalf of another family member — usually a parent — without knowing that they are agreeing to become a Fiduciary and what that means. Becoming a Fiduciary is entering into a legal relationship that entails trust, responsibility and accountability. There are many different […]
posted on: April 13, 2017
Read MoreUncertainty makes most of us uncomfortable. It is something most wish to push aside. Much of what happens over the course of our lifetimes, however, is uncertain until much closer to when it actually happens. Estate planning necessarily grapples in the present with the uncertainty of what may happen to us and our loved […]
posted on: March 13, 2017
Read MoreSpecial Needs Trusts (“SNT”) are for special needs beneficiaries who receive needs based government benefits, such as SSI and Medi-Cal. Assets held in a fully discretionary SNT do not count as available resources for determining needs based eligibility because the trustee has complete discretion over whether, when and how to distribute assets. The purpose […]
posted on: February 27, 2017
Read MoreMoney can be a compelling temptation. Some trustees give in to their temptation and misappropriate trust funds for their own personal use. After the fact, when they are caught, such trustees may try to re-characterize their misappropriation as so-called “borrowing”. Such misappropriation, of course, is not “borrowing” and repayment does not make it […]
posted on: February 11, 2017
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