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27 03, 2015

Do I Need a Will or a Trust?

By | 2015-03-27T08:32:56+00:00 March 27th, 2015|Asset Protection, Estate Planning|Comments Off on Do I Need a Will or a Trust?

Trusts and wills accomplish the same goal in a different time frame. Wills transfer ownership of property and finances to beneficiaries when the owner dies. Trusts transfer ownership of property and finances to the trust while the trust creator is still alive. Using a will, assets belong to the owner up until the moment of [...]

9 03, 2015

What Is Probate?

By | 2015-03-09T13:41:01+00:00 March 9th, 2015|Estate Planning|Comments Off on What Is Probate?

Probate is the legal process used to determine the disposition of a person’s assets upon his or her death. California’s Probate Code is not overly complex, and there are streamlined processes for estates valued under $150,000. However, estates valued at more than $150,000 and not held in joint tenancy or as survivorship community property require [...]

6 02, 2015

What is a Living Trust?

By | 2015-02-06T11:58:22+00:00 February 6th, 2015|Estate Planning|Comments Off on What is a Living Trust?

A living trust, as defined by West's Encyclopedia of American Law, Edition 2, is “a property right, held by one party for the benefit of another, that becomes effective during the lifetime of the creator and is, therefore, in existence upon his or her death.” Living trusts contrast with testamentary trusts that take effect only [...]

22 01, 2015

The Differences between Trusts and Wills

By | 2015-01-22T06:47:37+00:00 January 22nd, 2015|Asset Protection, Business Formation, Estate Planning, Succession Planning|Comments Off on The Differences between Trusts and Wills

Planning your estate can be a daunting task. There are quite a few options available in formulating an estate plan. Two of the most common options are wills and trusts. While both serve as useful tools in distributing up your property and assets, there are some key differences to consider from our estate planning attorneys. [...]

15 12, 2014

The New Living Will: California’s Advance Health Care Directive

By | 2014-12-15T18:29:22+00:00 December 15th, 2014|Estate Planning|Comments Off on The New Living Will: California’s Advance Health Care Directive

There are many concerns that arise when a person suddenly becomes seriously ill. Among these concerns is the need to make medical decisions, which often falls on the shoulders of stressed or even grieving loved ones. Without a living will or Advance Health Care Directive, family members can be left to guess what their ailing loved [...]

8 12, 2014

Transferring Encumbered Property to a Land Trust

By | 2014-12-08T18:27:25+00:00 December 8th, 2014|Asset Protection, Business Law, Estate Planning|Comments Off on Transferring Encumbered Property to a Land Trust

Transferring a personally owned investment property to a land trust in order to provide additional legal protection for your holdings is a relatively straight-forward but highly technical process. Our estate planning and small business attorneys often deal with the legal implications characteristic of this type of transaction. There are a number of benefits to creating [...]

20 03, 2014

Community Property in California

By | 2014-03-20T00:52:45+00:00 March 20th, 2014|Community Property, Estate Planning|Comments Off on Community Property in California

Determining what constitutes marital or separate property is an important step in estate planning. This area of law is principally governed by the legal term “community property.” 1. What is community property? The California code defines community property as “all property, real or personal, wherever situated, acquired by a married person during the marriage while [...]