Trust Administration and Probate

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...] about What is a Constructive Trust and Why Would You Ever Need One?

Contrary to what many people think, you cannot simply leave money to your pet in your will.  Pets are considered property under the law, so they cannot “inherit” money from you, as some people assume.  Yet, even with a detailed provision in your will for your pet, you may not be securing your pet’s future as well as you might think.  If you want to guarantee that your family friend will be properly cared for after your death, you should seriously consider a pet trust. Here, our Los Alamitos … [Read more...] about Lost Alamitos Trust Lawyers Discuss the Benefits of Pet Trusts

Drafting the trust agreement is only the first step in establishing an effective trust. The next crucial step is to fund the trust. “Funding” means transferring your property to the trust. How you go about funding your trust will depend on the nature of the property.  When it comes to Los Angeles trust administration, there are several options, so you should discuss your situation with an experienced trust attorney. What does it mean to fund a trust? After the trust agreement has been … [Read more...] about The Importance of Funding in Los Angeles Trust Administration

A common misconception that many Orange County residents have is that when someone with a living trust passes away, nothing needs to be done. Although it is true that living trusts can go a long way toward avoiding probate, that does not mean nothing needs to be done when the person who created the living trust dies. Our Orange County trust attorneys can help you take the first steps when this happens. What is a living trust? A “living trust” is a specific type of trust that will become … [Read more...] about What is Required When a Loved One with a Living Trust Dies?

When loved ones have disagreements about how a trust should be established and managed, including how the trust property should ultimately be distributed, the resulting dispute can be emotionally stressful, as well as expensive. Nevertheless, trust beneficiaries and trustees often have disputes that can lead to trust contests and litigation in court.  Here is what our Orange County trust lawyers have to say about some of the common trust issues and how to deal with them. Can someone “contest” a … [Read more...] about Orange County Trust Lawyers Discuss Trust Issues

With all of the great benefits that owning a timeshare can provide, most timeshare owners are looking for a way to pass on that valuable property to their heirs after death. Yet, timeshare ownership is not as straightforward as owning your home, for example. Nor is it the same as owning a summer home. Therefore, if you are considering establishing a living trust as part of your estate plan, you should know that funding a timeshare into a living trust takes the expertise of Los Angeles trust … [Read more...] about Los Angeles Trust Lawyers Explain Timeshares and Living Trusts

If you have been asked to serve as a trustee, you are agreeing to a take on a very important responsibility. The services of a trustee are critical to successful Los Angeles trust administration. As the trustee, you are the individual responsible for ensuring that the requirements set out in the trust agreement are satisfied. The trustee is also responsible for managing the assets that have been placed in trust, as well as maintaining accurate records of all transactions that involve the trust … [Read more...] about Mistakes to Avoid in Los Angeles Trust Administration

The goal of estate planning for most people is avoiding probate.  Why?  Because probate can be expensive and it can take a long time to go through the entire process.  Every estate, regardless of its size, is required to pass through probate so that the heirs or beneficiaries can receive their inheritances.  Whether avoiding probate is the right thing for you depends on many factors, so discuss this decision with your probate lawyer.  If you decide you want to bypass the process, here is a guide … [Read more...] about A Guide to Avoiding Probate