A revocable trust is a popular estate planning tool that can serve useful property management functions during a client’s lifetime and may also be used as a convenient and efficient means to distribute a client’s assets on his or her death. This article discusses the benefits of using a revocable trust rather than a will or other testamentary instruments such as deeds or transfer on death accounts. Read more
You generally don’t hear about celebrity estate plans unless something goes wrong. But Joan Rivers’ estate planning, which included gifts to her dogs, serves as a great example of the proper way to plan an estate. Ms. Rivers’ arrangement did a lot of things right and the highlights below can be used by almost anybody.
A recent New York Time article highlights some of the complexities of selecting an estate’s executor, Sendak’s Estate: Debating Where the Things Go. The article examines the estate of Maurice Sendak, author of “Where the Wild Things Are”, and its management by its executors. While Sendak’s estate is rather large and complex, the issues associated executor management of an estate can impact estates of any size. Read more
As an estate executor, one is required to conduct a search for a decedent’s heirs and beneficiaries. This process can present certain challenges, especially if there is no surviving spouse or close family members who may be able to provide this information. To locate these heirs, the executor must make “reasonably diligent efforts.” But what will the court consider “reasonable”?
This can vary in every case but, by following the below list, executors can provide the court with a degree of certainty that “reasonable” efforts have been completed. Read more
In California, the person in possession of a will is required to deliver the original copy of the will to the court within 30 days of learning of the death of the testator (person who created the will).These actions are required even if no additional probate proceedings are, or are likely, to be initiated. The person in possession of the will must also delivery a copy to the executor, if one named in the will, or the will’s beneficiaries.
If the location of a will is not immediately known, however, a search may be required. Even where a will may be easily located, a search codicils (additions to the will) and later wills is required. The following points include helpful tips for locating a will or codicils. Read more
In California, there is only one form required to begin a probate proceeding. This form is entitled DE-111 and is known as a petition for probate. A copy of DE-111 can be found here. While a step-by-step overview of how to fill out the form would take much more than a simple blog post to address, the general information required to complete the form is somewhat straightforward and is covered below. Read more