News & Analysis as of September 18, 2024

Trusts

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Laws of Succession vs. The New Biology

Katten Muchin Rosenman LLP on 11/8/2023

It is said that being able to make our own decisions about our health, body and sexual life is a basic human right. But, it may surprise you that, even if a basic human right, historically there was no recognized property...more

I’m A Childless, Single Adult. How Do I Navigate Establishing Fiduciaries?

Burns & Levinson LLP on 10/13/2023

Many people default to nominating a spouse or a child as personal representative of their estate or trustee of their trust, if they have one. However, when one has neither a spouse nor a child, who should one choose to fill...more

What to Expect: Your First Meeting with an Estate Planner

Burns & Levinson LLP on 9/29/2023

Any estate planning professional will tell you everyone should have an estate plan. But we also understand that the whole process can feel a bit daunting—finding an estate planning attorney, getting organized, making...more

Challenging a Will: What We Can Learn From Priscilla Presley

Burns & Levinson LLP on 3/31/2023

Elvis Has Left the Building - In 1977, when Elvis Presley died (to put a complicated situation very simply), his estate and any future royalties generated by his intellectual property, including his music, passed into a...more

I Am a Child of an Affair. What Rights Do I Have to My Parent’s Estate?

Burns & Levinson LLP on 7/12/2022

Picture this: your family has a longstanding rumor that you are the child of an affair. Not only that, but it is an open secret who your family believes your other parent is. One day, you hear that the possible other parent...more

The Estate Planner, May/June 2022

Shumaker, Loop & Kendrick, LLP on 5/23/2022

You’ve received an inheritance: Now what? If you’ve received, or will soon receive, a significant inheritance, it may be tempting to view it as “found money” that can be spent freely. But unless your current financial plan...more

Don’t Count Out the Bypass Trust

Adler Pollock & Sheehan P.C. on 2/1/2022

To paraphrase Mark Twain, the reported demise of the bypass trust may be greatly exaggerated. In fact, this estate planning technique is still a viable option for many individuals and may actually stage a “revival” in future...more

10 Reasons to Review Your Current Estate Plan

Bowditch & Dewey on 11/1/2021

Estate plans are supposed to be living documents that evolve over time. Generally, you should review your plan every 5 years to stay current, or whenever you or your beneficiaries have a major life event such as marriage, the...more

Immortal Right — Income Beneficiary’s Entitlement to Accounting Continues after Death

Downey Brand LLP on 5/3/2021

Many California trusts confer a lifetime right to income on a person (often the surviving spouse) with the remainder passing to designated survivors upon the income beneficiary’s death. When the income beneficiary dies, is it...more

Yours, Mine, and Ours: Estate Planning for Blended Families

Ward and Smith, P.A. on 4/15/2021

According to recent statistics, four out of every ten families are blended families. As you might expect, estate planning for blended families is often complicated. Proper planning requires not only careful financial and...more

Court Affirmed An Order Modifying A Trust Where The Complaining Beneficiaries Were Not Affected By The Modification, Where The...

Winstead PC on 1/19/2021

In In re Ruff Mgmt. Trust, the settlor and primary beneficiary sought and obtained a modification of a trust regarding who could name a successor trustee. No. 05-19-01505-CV, 2020 Tex. App. LEXIS 9467 (Tex. App.—Dallas...more

Take a Fire Prevention Approach to Your Estate Plan

Downey Brand LLP on 12/29/2020

As we enter the New Year, it’s a good time to revisit your estate plan. The big question is whether your will, trust, power of attorney, and advance health care directive accomplish your personal objectives. Guidance from an...more

The Estate Planner, January/February 2021

Shumaker, Loop & Kendrick, LLP on 12/23/2020

Below is a brief glance of what you'll find in the January/February 2021 issue of The Estate Planner. - Can a charitable trust replicate a stretch IRA? - Power up your trust with Crummey powers - Net gift technique...more

Who Gets the Tahoe House and Other California Real Estate Inheritance Disputes

Downey Brand LLP on 10/27/2020

Many California trust and estate disputes involve the allocation of real estate amongst several beneficiaries. Mom and Dad, may they rest in peace, owned an upscale home in the Fab 40s neighborhood of East Sacramento, a sweet...more

The Importance of Regular Check-ups for a Healthy Estate Plan

Shutts & Bowen LLP on 10/26/2020

After creating and implementing a plan for your estate, it is important to regularly revisit your plan to ensure that it is still reflective of your values and goals for passing along your legacy. Seemingly small changes in...more

Helping Families and Solving Problems – A Conversation with Trust Officer Alysia Corell from Exchange Bank

Downey Brand LLP on 5/26/2020

Bank trust departments, also referred to as corporate trustees, provide professional management to the administration of California trusts. People may choose to name a bank to act as successor trustee when they can no longer...more

Openness and Transparency Help Avoid Trust Disputes – An Interview with Tracy Potts

Downey Brand LLP on 3/12/2020

Tracy M. Potts has nearly three decades of experience in California with estate planning, administration and litigation. A Texas native, she earned her law degree from Southern Methodist University School of Law. Her...more

Why You Need a Trust

Burns & Levinson LLP on 9/27/2019

People often ask “Why do I need a trust?” Some folks think they can get by with a simple will. Here is why you probably need more than that...more

Trustee Fees in California – Tips for Family Member Trustees

Downey Brand LLP on 12/11/2018

What is a reasonable trustee’s fee in California for a family member who acts as trustee? We see a high degree of conflict over this issue even when the amount of the claimed fee is small compared to value of the trust...more

Weathering the Storm: How to Get Your Affairs in Order

Ward and Smith, P.A. on 9/28/2018

I’m writing this in Wilmington, North Carolina at a time when many in this area still are struggling after Hurricane Florence. The weekend before the storm was bright and sunny. I would have rather gone to the beach, but...more

Stepmother vs. Stepchild, Now Playing in a California Probate Court Near You

Downey Brand LLP on 4/24/2018

Stepmothers are frequent characters in California trust and estate litigation, as they are in fairy tales and Disney movies. With about half of all marriages ending in divorce, there are many stepmother/stepchild...more

Look! Up in the Sky! It’s Sibling Lawyer!

Downey Brand LLP on 9/6/2017

I’m a sibling lawyer. My career started early, as a middle child, and now continues as a Sacramento-based trust and estate litigation attorney. Most of my clients are grappling with sisters or brothers over the care and...more

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