USA Today’s article highlights several considerations to ensure that your will is “bulletproof”. Some of their suggestions are more helpful than others. We further analyze which suggestions are needed and which are less likely to be helpful to you. Read more
The advantages of a revocable living trust outweigh its potential disadvantages in most cases. As a result, a revocable trust is the recommended estate planning vehicle for most people. But there are some things that the creators of revocable trusts should be aware of when deciding to implement a trust. Read more
The probate process is court-approved and involves the transferring of the assets of a deceased individual to the beneficiaries listed on their will. The process is usually set in motion by the person you have chosen as the executor of your will. Upon your death, he or she will seek an appointment by filing a petition in court. Read more
A living trust is a legal document that is, among other things, a partial substitute for a will. A living trust can provide broad and specific powers regarding most of you assets and is a key component of an estate plan. 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
Distribution of assets during probate requires that specific processes be followed. In California probate proceedings, a family allowance distribution occurs during the course of probate and allows for distribution to meet the needs of minor children of the decedent. Read more
Conducting a court supervised probate proceeding in California includes a variety of costs. These include court filing fees, executor and attorney fees, publication costs, and fees paid to the probate referee. The below outline includes a closer examination of these fees and who will typically pay then and presumes that the estate in question has more assets than liabilities. This discussion does not include payment to estate creditors or other liabilities of the estate. Read more
If you have received a DE-121 Notice of Petition to Administer Estate, it means that you likely have an interest in the estate of a person who has passed away. It also means that another person has filed with the court to begin the probate process. The person who files a DE-111 Petition for Probate is required to notice all heirs, beneficiaries, contingent creditors, and persons who otherwise may be interested. If you have received a DE-121, you are very likely to have an interest in or be entitled to receive part of the estate. Read more