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Estate planning is a crucial but often overlooked aspect of financial and property management. It involves preparing for the transfer of your assets in the event of your death or incapacity. This process ensures that your wishes are honored, and your loved ones are taken care of, minimizing potential disputes and legal complications. Estate planning is not just for the wealthy; it is essential for everyone! Without a plan, your estate will be subject to California law, where the state decides how your assets are [...]

The best way to protect your home from probate is to transfer it into a Living Trust. A Living Trust allows for the easy transfer of your home and saves thousands of dollars after you pass away. But it is not enough to establish your Living Trust – you must also properly transfer your home to your Living Trust.

If you have a living trust, you may also have bank accounts or investment accounts titled in the name of your living trust. In that case, the financial account titled in the trust does not need a transfer-on-death (TOD) beneficiary designation and that account will always pass through your trust and be distributed to the beneficiaries under your trust.

Are you in an unmarried same-sex domestic partnership? Have you and your partner created a will, consulted an estate planning attorney, or even considered estate planning? If not, it’s crucial to start sooner rather than later. Proper planning protects both you and your partner.

A living trust is an estate planning document you can create during your lifetime. Assets are transferred to your living trust (such as your real property, bank accounts, and brokerage accounts). While you are alive, your trustee (who is usually you) will have complete control over all trust assets and can move the assets in and out of your living trust as needed.

I often advice clients that when family circumstances change, it is a good idea to update their living trust. How often should a living trust be updated? I recommend you review your living trust every three to five years. This gives you the opportunity to look at it with fresh eyes. In my experience, when clients have a living trust prepared, the binder with the trust documents is set on a shelf and rarely looked at again.

Is your dog, cat, bird, or other pet the most important thing in your life? Do you worry about what will happen to your pet when you pass away? You can create a “Pet Trust” as part of your estate plan to protect your pet.

Are you a member of the LGBTQ+ Community? Do you have an estate plan that protects you? One of the biggest mistakes members of the LGBTQ Community can make is failing to properly set up an estate plan – the results of which can be devastating! Having no estate plan is the equivalent to giving up control of your assets, as well as giving up control of your healthcare decisions and end-of-life decisions.

California law says, “No one can take advantage of his or her own wrongdoing”. The California Probate Code punishes those who commit murder under the California Slayer Statute.

One of the biggest decisions you will make when creating your Living Trust is choosing who will be your Trustee. The Trustee is the administrator of your Trust assets. The Trustee will collect and manage your assets, pay your debts, and distribute your assets to your beneficiaries after you pass away. The Trustee should be someone you can count on, someone reliable, and someone who can manage money and property. Some Trustees abuse their power to the detriment of the beneficiaries or breach their fiduciary [...]