Trusts are very useful estate planning tools that provide a way to save money and other property for a chosen beneficiary. Some trusts have a particular purpose, such as providing future support for a loved one with special needs. Your chosen trustee will hold and manage the property, making that person responsible for seeing that the terms of the trust are fulfilled. Trustees of special needs trusts have unique issues when it comes to trust administration. One of them is the use of prepaid … [Read more...]

A living trust is a very useful estate planning tool that you should consider including in every estate plan.  However, before you take that step, there are a few common myths regarding living trusts of which you should be aware.  This article will debunk three of the most common myths. For a complete understanding of how this estate planning tool can benefit you, discuss your options with your living trust attorney.MYTH: A Living Trust Requires You to Give Up Control of your PropertyWhile … [Read more...]

Some clients choose to create a revocable living trust as the basis of their estate plan, as opposed to the last will and testament. Trusts are typically used because they allow estates to avoid probate. Many clients wonder which is better – probate or trust administration. Our Los Angeles and Orange County trust administration attorneys can explain some of the differences to help you make that important choice.Understanding the differencesOne of the big differences between the … [Read more...]

The benefits of owning timeshare property are many.  The majority of timeshare owners also wish to pass on that valuable property to their children when they die.  However, timeshare ownership is not as straightforward as owning your home, or even owning a summer home.  So, if you are considering establishing a trust as part of your estate plan, you should understand how funding a timeshare affects trust administration.The benefits of funding a timeshare to your trustIf you have a living … [Read more...]

As Orange County trust administration attorneys, we frequently receive calls from beneficiaries who have just received notice that they have been named in a trust. There are a few things that can be useful to understanding the process if you are a trust beneficiary Here is a guide to help trust beneficiaries through the complex process of trust administration.Read the entire trust document and all amendmentsIn California, every trust beneficiary is entitled to a copy of the trust agreement … [Read more...]

Trust and estate litigation can become an issue for several different reasons. Not every dispute will necessarily lead to litigation in court, but there are some issues that are more likely to bring people to court than others. Whether you are facing litigation initiated by someone else or you are considering filing a lawsuit yourself, our Orange County trust and estate litigation attorneys are here to help.Mismanagement of a TrustOne of the most important aspects of creating a trust is … [Read more...]

Trust administration can be a very challenging responsibility, particularly when a special needs trust is involved. Some of the rules that apply to a special needs trust can be both complex and bewildering. One of the most important considerations with administering a first-party special needs trust is the beneficiary designation. With these particular types of trust, the sole benefit rule can have very important consequences. Depending on the beneficiary designation, needs-based benefits could … [Read more...]

Often, an important part of Los Angeles trust administration is distributing real estate. Being a trustee can bring with it some unique issues when it comes to the distribution of personal property and, particularly, real estate. There are certain considerations that should be made when real estate is involved and our trust attorneys can explain some of the issues you may face.Tip #1 - Determine what the beneficiaries actually want to do with the propertyThe first step in determining how to … [Read more...]

Trust administration requires a responsible trustee to keep the process moving in the right direction. One question that clients often ask is whether they can appoint their trust lawyer as their trustee. There are a few ethical considerations, including conflicts of interest and fiduciary duty which should be thought through.  Here is some good information that may help you make this particular decision.Choosing your trustee to handle your trust administrationThe trustee serves a crucial … [Read more...]

A constructive trust is different from other types of trusts. It is not created as an expression of the intent of the person who establishes the trust.  Instead, it is created by the courts when the wrong person has been given the title to trust property. The purpose of this type of trust is to serve as a remedial measure. If you are an intended beneficiary and you believe this type of trust is necessary, contact our Long Beach trust attorneys to explain how a constructive trust works.Why … [Read more...]