Can it be done?  Can property be held in trust AND in joint tenancy?  Your lawyer told you it can’t be done, right?  Tell them to review California Civil Code section 683(a). 683. (a) A joint interest is one owned by two or more persons in equal shares, by a title created by a single […]

INTRODUCTION Protecting your digital assets isn’t talk about by most attorneys. However, it should be!  In some cases your digital assets are of extreme value; either monetarily or for sentimental reasons. Make sure your estate planning attorney discusses this with you! THE PROBLEM The most common problems with digital assets is ACCESS. You are alive […]

Here is the latest from the IRS for the AFR (applicable federal rates) for October 2013. REV. RUL. 2013-21 TABLE 2 Adjusted AFR for October 2013 Period for Compounding Annual Semiannual Quarterly Monthly Short-term adjusted AFR .32% .32% .32% .32% Mid-term adjusted AFR 1.78% 1.77% 1.77% 1.76% Long-term adjusted AFR 3.50% 3.47% 3.46% 3.45%

INTRODUCTION I received a call the other day asking how houses with reverse mortgages are handled after death. Reverse mortgages are just mortgages.  Thus the mortgage has no bearing on what procedure is used after death to clear title to an asset. BACKGROUND In the beginning (1960′s and 1970′s) reverse mortgages often had draconian repercussions […]

Review this post for the BEFORE pictures. It was sold in a probate sale.  Here is a picture of the NOW.

I have heard this book is a great resource if you are serving as a trustee or executor of an estate. I have not read it myself yet. However, I encourage you to get a copy if you are going to serve in a fiduciary capacity. Here’s the link to Amazon.

INTRODUCTION There are generally two ways that a life insurance policy could become payable to the estate of a deceased person. The first is if a person actively names their estate as the beneficiary. The second is if no named beneficiary is alive to receive it.  In either case a probate will likely be the […]

INTRODUCTION Each year the Financial Awareness Foundation promotes National Estate Planning Awareness Week.  The Financial Awareness Foundation is currently under organization to become a 501(c)(3) nonprofit organization. From their website, “it was established to significantly improve financial awareness and financial literacy. The Foundation’s vision as an educational public benefit corporation is to teach, promote, motivate, and […]

Approval, confirmation and affirmation!  We all like these things, right?  For years I have encouraged clients to get “bank” or “special” powers of attorney for assets that are not a part of their trust. This includes Calpers which has benefits not a part of the living trust. I recently received notice from a large law […]

INTRODUCTION I get asked this question a lot.  ”What can I expect at my upcoming probate Court date?”  Or, “how soon after my Court date will I have letters testamentary?”  Or even, “do I need to be at my Court date?” COURT ATTENDANCE Let me start with the last one… NO. Generally speaking there is […]