Estate Planning Blog | The Law Offices of Eric A. Rudolph P.C.

Living Trusts Versus Wills

Clients often ask me “what is the difference between a basic will and a revocable living trust?” And they also ask “which one do I need?” It is important to know the differences between a revocable living trust and a will. Not everyone needs a living trust.Revocable living trusts and basic wills both allow you to name beneficiaries to receive your property after you pass away. They are useful estate planning devices for different purposes. The most important difference is that a living trust allows [...]

April 6th, 2014|Estate Planning|

Avoid Probate of CA Real Property with Living Trust

In California a revocable living trust is the best way for real property owners to avoid the need to probate their real property, allowing them to maintain control and save money all at the same time. However, it is not enough to establish a trust – you must also fund it. Transfer of your real property into your trust is not complete without a recorded deed. To avoid probate a trust must be properly funded. Funding of real property is accomplished by deed. A deed [...]

November 17th, 2013|Estate Planning, Real Estate|

Powers of Attorney for Health Care & Financial Matters

An Advance Health Care Directive allows you to make important health care decisions for yourself and designate an agent to carry out those wishes in the event you are incapacitated and unable to make your own medical decisions.

September 29th, 2013|Estate Administration|

Estate Planning for Domestic Partners

Are you in an unmarried same-sex domestic partnership? Have you and your domestic partner created a Will, talked to an estate planning attorney, or even given estate planning a second thought? If not, you need to consider doing so sooner rather than later, not only to protect your partner, but to protect yourself as well.

June 16th, 2013|LGBTQ Estate Planning|

Revocable Living Trusts and Irrevocable Trusts

Without a properly drafted estate plan stating your wishes, your assets may not go to the person or persons you want or they may be distributed according to State law.

May 5th, 2013|Estate Administration, Estate Planning|

Choosing Your Successor Trustee

The Successor Trustee will collect and manage your assets, pay your debts, and decide when and how your trust assets will be distributed to your beneficiaries after you pass away.

March 25th, 2013|Estate Administration, Estate Planning|

California Slayer Statute – You Can’t Profit From The Will If You Kill!

The California Probate Code has a statute that punishes those who commit a felonious killing of another human being. This is known as the California Slayer Statute. When the killing of another is considered a felonious act, the person who commits the felonious murder of another cannot profit from the victim’s estate.However, if you kill somebody in self-defense or commit justifiable homicide, this would not be considered a felonious killing and the person would be entitled to any gifts left to them under the victim’s [...]

February 11th, 2013|Estate Planning|

How to Avoid Probate

Many people feel strongly about avoiding probate at their death. You may think that a Last Will is something that family members handle among themselves after you pass away. Everyone pictures a scene out of a movie or TV show where the executor reads the Will to the family, and then proceeds to distribute the assets in accordance with the Will. The truth is that the process is never that simple. Unless your estate is valued at less than $150,000, the Probate Court must be [...]

January 21st, 2013|Estate Administration, Estate Planning|

Why Estate Planning is Important to You

Do you have an estate plan? You should have a carefully conceived estate plan which allows you to decide how your assets will be handled when you pass away or become incapacitated. You've probably spent a great deal of time and energy accumulating your assets, and a good estate plan will help protect your interests once you no longer are able to. Failure to properly plan your estate can leave your family’s property vulnerable. And the larger your estate, the more critical it is to plan [...]

December 10th, 2012|Estate Administration, Estate Planning|

What is a Durable Power of Attorney?

What is a Durable Power of Attorney? A durable power of attorney allows you to manage your property and financial affairs in the event that you become disabled or incapacitated. Unless you have a properly drafted power of attorney, when you become incapacitated or disabled, it may be necessary to go to court and have a guardian or conservator appointed to make decisions for you. This conservatorship process is usually lengthy and expensive as well as being emotionally draining. There are two types of durable [...]

August 1st, 2012|Estate Administration, Estate Planning|