When a loved one dies, managing their estate can be complex and emotional. Depending on the circumstances, one of the critical roles involved in this process can be the estate administrator. The administrator of an estate is appointed by a local probate court to oversee the estate administration and manage the estate through the probate process. But what does an
{Read in 5 Minutes} As a Trusts and Estates attorney, I frequently represent a client who wishes to prepare a Will as part of their estate plan. Incident to — or as part of — this process, we often talk about who the person wants to name as their Executor. The role of an Executor is incredibly important.
As a pet lover, you might joke (or daydream) about leaving your pets everything you own when you are gone. Because they’re not just pets; they’re family. They’ve been by your side through thick and thin, offering unconditional love, endless comfort, and the occasional slobbery kiss or chewed-up shoe. But what if you could leave them everything—your home, your savings,
Estate planning isn’t just about protecting your assets for future generations; it’s also an opportunity to make a lasting impact on the causes you care about. By strategically incorporating charitable giving into your estate plan, you can leave a legacy that extends far beyond your lifetime. Understanding how to combine estate planning and charitable giving is crucial to leaving a
The holidays are a time for family, friends, and the kind of cherished memories that warm your heart like a piping cup of hot chocolate. More than anything, though, this is an opportunity to connect with your loved ones and show them how much you care. But let’s be honest – sometimes, those long family dinners can get a little
If you are like many California residents, your home is one of your most valuable assets, and ensuring it is taken care of into your old age and passed to your loved ones efficiently is of the utmost importance. Many people like you come to our office with a single question: Why would you put your house in a trust?
Certain types of trusts can protect assets from lawsuits, which professionals at a higher risk of lawsuits commonly use. Revocable trusts, also called living trusts, cannot protect assets from a lawsuit because the trust creator still maintains property ownership in these arrangements. Irrevocable trusts, however, can protect assets from lawsuits. To ensure this type of trust protects assets, the trust
An executor has the legal obligation to show an accounting to beneficiaries unless beneficiaries have waived the accounting. But there is more to it than that, which only adds to your stress. You have a lot on your plate right now; you may feel overwhelmed and still be grieving the loss of a loved one. When a request for an
So, your parent is squandering their estate on lavish gifts or questionable purchases. Watching a beloved parent make questionable financial decisions can be heart-wrenching. Because when they give away their money and property, they aren’t just forfeiting material assets; they’re giving away their future, as well as the future financial security of anyone who might inherit from their estate. Whether
If you’ve created a trust as part of your estate plan, you have taken a crucial step in protecting your assets and providing for those you love the most when you are no longer around to do so. Trusts are a great legal tool that ensure assets pass smoothly to beneficiaries, and they often bypass the lengthy and costly probate