Inheritances, Wills, Trustees, Beneficiaries

The legal issues concerning inheriting money and other assets can be complicated. Having a good understanding of the basics of inheritance and how it relates to estate planning options can help you get through the process in the future.

  • Setting up a trust for lottery winnings  
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    Winning the lottery, especially if it’s a considerable sum, can be a life-changing experience in both good and bad ways.
  • The longest will on record  
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    A will is an important part of a comprehensive estate plan because it provides directions as to who will take control of your assets after you’ve died as well as who will serve as guardian for any minor children should the need arise. In general, wills are usually about 5 pages in length, with the exception of the will of Frederica Cook – 1066 pages long!
  • Trustee consulting services  
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    If you agree to be the successor trustee for a loved one or friend, you’re responsible for the continued management of the trust should its creator become incapacitated or for settling the estate when he or she dies…
  • Can you leave property to non-relatives?  
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    While there is no legal issue with leaving property to friends and other non-family members, you need to have some type of legal document in place that outlines your wishes to do so…
  • 3 easy strategies you can use to keep money in your family  
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    Developing strategies for preserving your wealth and keeping it in your family after death should be part of any successful estate planning that you’re considering. . .
  • This is the year that you get a living trust  
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  • Should you have more than one will executor  
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    Choosing an executor for your estate is a personal decision. It may be advantageous to name more than one executor to share the workload and responsibilities associated with settling an estate…
  • How a ‘minor’s trusts’ can help inheritance management  
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    If you have assets that you would like to leave to a child or grandchild, you can create a minor’s trust. Designed to manage and protect those assets until the child in question reaches a specific age …
  • What happens to assets not in your trust  
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    Failing to fund your trust with all of your assets can result in a costly probate process which means more court time and fees to come out of your estate…
  • What happens to assets not in a trust when someone dies?  
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    As time goes on, you may acquire additional assets that also need to placed in the trust. If you neglect to do this before your death…
  • Who should you pick to be your trustee  
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    You’ll more than likely name yourself as the trustee in order to be able to continue managing your financial affairs. But, you’ll also need to choose a successor trustee, someone who can step in and manage your affairs if you should become incapacitated or after your death…
  • How to leave money for your kids after you pass  
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    While you don’t have to have millions of dollars in assets and property in your estate to be able to leave money to your children, you do need to have an estate plan in place to make sure that your assets and property are distributed as per your wishes upon your death…
  • Who is responsible for inheritance when someone dies without a will?  
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    Next-of-kin relationships become important under the state of California’s laws of intestate succession when it comes to determining your “heir(s) at law” if you die without a will in place. . .
  • What dying without a will or trust in California means for your family  
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    The distribution of an intestate estate is very complicated and can be avoided by creating a will or living trust . . .