As a trust attorney in estate planning in Sacramento, I have helped many parents create a special needs trust for their disabled children. One crucial factor of this kind of trust is naming the trustee. Ideally, the trustee should be someone whom your disabled child is already acquainted with, like your spouse, a sibling, a relative, or a family friend. The trustee you name should also have a willingness to serve the needs of the child when you are gone. If the trustee is well-versed in financial management, this would be very helpful as well.
Estate...
Friday, February 28, 2014
Tuesday, February 25, 2014
Blended Families: How a Sacramento Estate Planning Attorney Can Help
One common issue is stepchildren. Understandably, married couples with families from previous relationships can get entangled in the many legal and emotional issues surrounding inheritances. For example, some parents might want their natural children to get all or most of their assets when they die, while others might want their stepchildren to benefit from these assets as well.
When looking for a trust attorney in Sacramento or wherever you happen to live, make sure they have planned and administered many, many estates for blended families before...
Thursday, February 20, 2014
Measures to Reduce Probate Rates in Sacramento
Holding a probate upon the death of an estate owner has a reputation of being a costly but necessary process since it allows the assets to be distributed to the rightful beneficiaries. In cases where there is no probate process, the assets left behind by the deceased might not go to the intended as stated in the will. Fortunately, there are measures to ensure a smooth distribution of assets while reducing probate rates at the same time.
Normally, a will appoints an executor who is responsible for handling the distribution of the estate....
What to Expect in a Probate
Probate is the legal process held to determine how the estates ($100,000 or higher in total and in sole ownership) of a deceased are to be distributed. However, the probate can become lengthy and complicated if the deceased failed to come up with a valid estate plan during his lifetime, and the family may have to spend more just to get through the process.
The properties of the deceased will initially be distributed to his or her creditors; liabilities must be paid off first before the properties can be distributed among the beneficiaries....
Wednesday, February 5, 2014
Choosing Your Will’s Executor
If there’s one thing that all adults need but many do without, it’s a last will and testament. So if you haven’t yet, schedule an appointment with an estate planning attorney to avoid inheritance problems later on.
Of course, your attorney will also require you to name an executor—the person who will carry out your will’s mandates. Yet how do you nominate someone for such an important task? Listed below are a few tips:
The Right Person
Many people name their spouse, children, sibling, or best friend as their executor, but...
How to Talk to Your Parents about Estate Planning
Few topics are as uncomfortable as discussing estate planning with your parents. After all, you’re asking them to detail how their assets will be distributed should they pass.
An awkward subject though it may be, estate planning ensures that inheritance problems will not add to the heartache you will feel when your parents die. Yet how does someone bring up this conversation with their parents? Below are a few tips to help you out:
Don’t Wait for a Crisis
A lot of times, people only discuss estate planning when their parents...
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