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Author Archive | David Foley

MYTHS about Revocable Living Trusts

MYTHS about Revocable Living Trusts. Some people with living trusts believe that no legal proceedings are necessary at death. Or if they are necessary, “everything happens automatically.” That is a myth. Yet people don’t believe the same about a Will. They know that the court is involved with a Will and that legal work is […]

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ATTORNEY FEES FOR TRUSTS: How much to pay?

ATTORNEY FEES FOR TRUSTS: How much to pay? Why are attorney fees for trusts “all over the place?” If you have shopped for a trust attorney fee, you are aware of the wide range in fees. From fees under $1,000 to several thousand dollars and more. It shows the kindness of attorneys – they’ll let […]

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Property taxes. Grandchildren defined.

Proposition 193 excludes from reassessment transfers of real property between parents and eligible grandchildren. Though a living trust is not required, your living trust attorney can advise on the application of the law and apply for its benefits. An eligible “grandchild” for purposes of Proposition 193 is any child of the parents who qualifies as […]

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Real Estate Taxes in California

Property taxes – giving your house to your kids California allows real estate owners to transfer their residence to their children without increasing the real property taxes. It has nothing to do with whether the owner has a living trust, a will, or powers of attorney. It is a benefit to children of property owners. […]

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Pick the Right Person as Trustee

Pick the Right Person as Trustee   By making a revocable living trust, you have reduced the cost and expense of administering your estate at death. The slow, tedious, and expensive probate process is avoided.  The person you named as successor trustee takes over for you. But you might think: could I have avoided a […]

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Living Trust: Copy vs Original

Living Trust: Copy vs Original Can you, or a family member, find your trust (a copy) or your will (the original)? Many decades ago, the family lawyer who wrote the original will would want to hold onto it (with the client’s permission), and not even charge a low or reasonable storage fee. One reason was […]

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How Trusts differ from Wills

How Trusts differ from Wills Trusts and Wills have this in common– each states how assets will be distributed at death. But they differ in many ways. WILL: Two witnesses sign. TRUST: No witnesses sign. WILL: Should not be notarized. TRUST: Virtually all trusts are notarized. But notarization is not legally required. WILL: The will […]

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