Not all trustees are independent and not all trustees are special… but the terms “independent trustee” and “special trustee” have the same meaning in estate planning. They are an unrelated and economically disinterested person with limited authority in a trust. Not all trusts will have such a trustee as the vast majority of trusts just […]

Each year my law school classmate, Steve Oshins, puts out a list of the top states to use for a “dynasty trust” and for a asset protection trusts. He just released his dynasty trust rankings. A dynasty trust is a trust designed to live as long as possible, from generation to generation, or a “Rockefeller […]

Below I have posted a sample of the information we like to have when we do estate planning. Though we do not require the information it’s helpful to us. It’s helpful in different ways. Let’s discuss. First, the dollar amounts are certainly not required but knowing the approximate estate size helps determine what plan is […]

There are many instances where a California trust ends up without a trustee in charge.  When I do estate planning I try to come up with a number of back-up choices and thus this doesn’t happen for clients when I do the estate plan. However, not everybody comes to me for their planning. Some only […]

An irrevocable trust means it cannot be changed, right?  Well, yes and no. There are situations where an irrevocable trust can be changed.  There are even situations where that irrevocable California trust can be changed AFTER DEATH. Probably the simplest to petition the Court after getting all the beneficiaries to agree to the change. However, […]

Transferring, or connecting, ALL assets to a trust is a crucial part of the California estate planning process and this includes CREDIT UNION ACCOUNTS.  Just like bank accounts, stock accounts, bonds, mutual funds, and all other such monetary assets… credit union accounts need to be in your California revocable living trust. Listing the assets on […]

A key component of the California estate planning process is to FUND YOUR TRUST.  What does that mean exactly? That means taking an active role in transferring your assets to your trust.  At our office we assist with transferring each asset; bank accounts, stock brokerage accounts, life insurance, bonds, stocks, and the list goes on… […]

We will take care of the deed Transfers to NON-California Trusts if you or your client own real property in California.  We will take care of the proper deed format as well as the preliminary change in ownership (a required state form).  We will charge $500 per California property and that includes obtaining the current […]

Trusts serve many purposes in estate planning for California residents. There are also many different types of trusts (inter-vivos and testamentary to name two main categories).  Inter-vivos trusts are created during life and often called “living trusts” or “grantor trusts.”  These trusts are most commonly set up as revocable trusts but sometimes are done as […]

Requests for trust accounting should be done by a beneficiary as soon as possible. Pursuant to California probate code 1060 (the accounting section) and 16060 et seq (the duty to inform section).  This starts a time clock and the trustee’s failure to comply with a reasonable request can put the trustee in a place of […]