When creating an estate plan, one of the most important decisions is selecting a trustee to manage assets for beneficiaries. The trustee has significant control, so any changes warrant scrutiny. There are several warning signs that indicate potential suspicion with a...
Estate Planning
How to avoid being accused of financial abuse as a trustee
Serving as a trustee can be an honor and provide peace of mind that you can carry out a loved one’s wishes. However, the role also comes with solemn duties and legal obligations. As a trustee, you have a fiduciary responsibility to manage the trust assets solely for...
The difference between guardianship and conservatorship
Conservatorship and guardianship are two different things. The state defines these terms. Here is some information about the differences between these two legal terms. Conservatorships and divorces Conservatorship is similar to custody in other states. Conservators...
3 reasons to set up a trust
Planning for the future also means planning for the unexpected and the end of life. While a will directs who receives your assets, a trust lets you name a legal trustee to ensure that how you want your property and assets distributed happens as it should. Among the...
When should I update an estate plan?
Though you have already taken the time to plan your estate, periodic follow-ups can ensure that your plans continue to address your needs effectively. Here are a few examples of when an update could be necessary. Changes to your assets Increasing your wealth could...
What do I need in an estate plan?
An estate plan can be as complex or as simple as you prefer. However, the more detailed you are in your estate plan, the easier the process is for your family after you pass. Plans you should include There are at least five things you should consider including in your...
How does probate work in California?
Understanding the probate process in California can inform your estate plan. With probate, the court supervises your chosen personal representative as he or she administers your will. Review these considerations regarding California probate when you begin planning...
How Do Living Trusts Enhance An Estate Plan?
It’s challenging to think about the contingencies necessary for a carefully considered estate plan. Most people don’t want to think about their death or the disputes that commonly envelope families once they’re gone. Living trusts are tools that can give you more...
