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.
- Estate planning strategies for Non-traditional Families DetailsWhen we discuss non-traditional families we’re referring to a variety of dynamics including unmarried partners, same-sex couples and co-parenting arrangements. These family structures often face specific legal challenges.
- Navigating family dynamics in estate planning isn’t always simple DetailsOpen communication and transparency can significantly reduce disputes and ensure your estate plan remains effective and relevant.
- Steps to take when a loved one dies DetailsIn this brief guide we highlight what to do when a loved one dies so you can better manage these challenges.
- What is a no-contest clause in wills and trusts DetailsA no-contest clause also known as an “in terrorem” clause is a provision you can include in your will or trust to prevent a beneficiary from challenging its terms.
- How to avoid siblings contesting a trust DetailsOne effective strategy for avoiding sibling conflict is to incorporate a trust contest clause. This legal provision can be included within your living trust and serves as an extra layer of protection against potential challengers.
- Inheritance management planning tips DetailsReceiving an inheritance from a loved one who has died can provide you with an opportunity to create your own financial legacy. Before making any decisions, take some time to evaluate all your options.
- How to contest a will in probate court DetailsContesting a will is done in probate court if “an interested party “wants to make a formal objection to the terms of the will or its validity. Who could be considered an interested party?
- How to prevent a will from being contested after your death DetailsYou create a will to ensure that your last wishes are carried out the way that you want them to be after your death. But what happens if some disgruntled relative or hanger-on contests it?
- What is a Spendthrift Provision? DetailsIncluding a spendthrift provision in your living trust will protect your beneficiaries from their creditors and prevents them from squandering their inheritance.
- Setting up a trust for lottery winnings DetailsWinning 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 DetailsA 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 DetailsIf 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? DetailsWhile 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 DetailsDeveloping 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 DetailsDescription.
- Should you have more than one will executor DetailsChoosing 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 DetailsIf 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 DetailsFailing 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? DetailsAs 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 DetailsYou’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 DetailsWhile 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? DetailsNext-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 DetailsThe distribution of an intestate estate is very complicated and can be avoided by creating a will or living trust . . .