When assets are transferred to a revocable trust, the purpose is generally to avoid the time and expense of the probate process. The total of your assets, all that you own in your name upon your death, are typically required to go through the probate process. The objective of the trust is to transfer ownership of your assets into the trust, so that they can escape the probate process. But, when transferring property into trust, how do you decide which property should be transferred? Which … [Read more...] about Transferring Property into Trust
BLOG
Pet Estate Planning in California?
Pet Estate Planning in California? from Scott Schomer If you have a special pet, who has been a part of your family for many years, no doubt you consider them as important as the other members of your family. Learn more about pet estate planning in California in this presentation … [Read more...] about Pet Estate Planning in California?
How Long Does Probate Take in California? [UPDATED 2020]
When a California resident dies, his or her property is usually included in his or her probate estate. This estate must be administered through the court system, in order for taxes and the claims of creditors can be paid. Then the remaining property or assets will be distributed to the beneficiaries of the deceased. Many clients ask how long is probate in California? The answer depends on a few factors that usually differ for each estate. To learn more about the probate process and … [Read more...] about How Long Does Probate Take in California? [UPDATED 2020]
Free Report: Legacy Wealth Planning in California
Having an appropriate, well thought out legacy wealth plan can help you preserve your financial independence and the independence of your family. Learn more about legacy wealth planning in California in this presentation. Topics covered in this report include: What is a Legacy Wealth Plan? Protecting your Assets Planning for Estate Taxes Charitable Donations Revisit your Plan Click here to read the whole article or download the PDF. … [Read more...] about Free Report: Legacy Wealth Planning in California
How to Preserve Your Wealth for Generations in California
How to Preserve Your Wealth for Generations in California from Scott Schomer Legacy wealth planning is a way to help preserve your financial wealth using estate planning tools such as wills, powers of attorney, living trusts and living wills. Learn more about legacy wealth planning in California in this presentation. … [Read more...] about How to Preserve Your Wealth for Generations in California
Free Report: Advance Health Care Directives in California
Now that medical professionals are better equipped to save and extend the lives of seriously ill or injured individuals, issues regarding prolonged suffering or delays in the dying process have become more prominent. Learn more about advance health care directives in California in this presentation. Topics covered in this report include: What is an Advance Directive? What Rights do I have to Decide My Own Medical Care? What is the Advance Health Care Directive (AHCD)? Choosing a … [Read more...] about Free Report: Advance Health Care Directives in California
Free Report: Incapacity in California
The term “incapacity” has different meanings depending on the context in which it is being used. During legal proceedings, “incapacity” usually refers to an individual’s ability to comprehend the nature and consequences of those proceedings. Topics covered in this report include: Legal Incapacity Mental Incapacity Temporary Incapacity How is incapacity defined in California? Why is determining incapacity so important? Who makes the determination of incapacity? Can a … [Read more...] about Free Report: Incapacity in California
Free Report: Intestate Succession in California
When a person dies without a will, there are specific laws in each state that address disposition of that person's assets to their spouse and/or heirs. Topics covered in this whitepaper include: The Spouse's Share Children's Shares "Children" Who Do Not Inherit Automatically Other California Intestate Succession Rules Click here to read the whole article or download the PDF. … [Read more...] about Free Report: Intestate Succession in California
What is an ILIT?
The acronym “ILIT” stands for Irrevocable Life Insurance Trust. An ILIT is a very useful tool in comprehensive estate planning. Generally speaking, an irrevocable trust transfers all ownership rights in the trust property to the trust itself, without retaining a right to revoke, terminate or modify the trust in any material way. If you transfer an insurance policy into an irrevocable trust, you have just created an ILIT. What is an ILIT basically used for? Benefits of an ILIT The true … [Read more...] about What is an ILIT?
Guide to Personal Representative in California
Guide to Personal Representative in California from Scott Schomer A personal representative is the individual responsible for supervising the administration of the estate through the probate court. To learn more about personal representative in this presentation. … [Read more...] about Guide to Personal Representative in California
