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5 steps to create an estate plan
Consider creating a trust There's a common misconception that trusts are only for the very wealthy. However, trusts can play an important role in many estate plans. They give you more control as to how assets are distributed and allow you to keep the details of your...
Planning for the Inevitable: Having a Will, a Durable Power of Attorney, and an Advanced Health Care Directive
By Robert Chang, Esq Freelance Writer For many people, planning for death is a scary prospect. Unlike divorce or loss of a job, it is inevitable. Still, there are those who are superstitious about estate planning and put off planning for what Benjamin Franklin sees...
HEGGSTAD PETITION
By Robert Chang, Attorney at law. A living trust must be properly “funded” in order to work properly. Upon the death of the person who created the trust, only that property which is titled in the trust’s name will avoid the probate process. So what...
What Is a Testamentary Trust?
A testamentary trust, unlike other trusts, is not legally binding until the person has died. As such, a person must include the trust in their will so that it is created upon death.
When you draft a will, it is a good idea to include the creation of a testamentary trust. Probate will still take place. This is to make sure the assets are being managed appropriately.
It is easier to include the testamentary trust clause that creates the trust when you are creating a will – however, if you already have a will, you can always amend the will to include the testamentary trust clause.
Merit-Based Immigration Visas and the Trump Administration
Family-based immigrant visas could become much more difficult to acquire if the “merit based immigration bill” proposed by Donald Trump and the Republican Party were to become law. Under the proposed merit-based visa category, an alien would accrue points based on...
Green Card 2017: Requirements and Benefits for Family-Based Immigrant Visas
Unfortunately, immigration in 2017 has become a highly contentious issue. We are constantly confronted with tragic stories about roundups--those who have lived in the US for many years, holding steady jobs, owning businesses, paying taxes and raising their...
Without Deed’s Joint Tenancy, Estate Ends up in Probate
We help many clients transfer Deeds—it’s generally a simple process that we can accomplish quickly, sometimes in a day. The following example highlights the importance of what is called vesting, or the way in which title to a Deed is held. It seems like a small thing,...
Transfer on Death Deed: Streamlining Succession Planning
We’ve been getting a lot of questions lately about the new Transfer on Death Deed (TOD). This statute went into effect in early 2016. The TOD Deed allows Californians to sign a deed transferring real property to another individual upon their death. The deed is...
Estate Planning: Choose an Executor with Time and a Wide Range of Skills
When it comes to estate planning, choosing an Executor should be an important part of the process, not an afterthought. Depending on the complexity of the estate, it can be a time-consuming, demanding responsibility, and the person who assumes this role should have a...
Guardianship Case Study: An Intervention for the Best Interests of the Child
These days, it’s not unusual for grandparents to end up raising their grandchildren. They take on this responsibility for a number of reasons—but in many cases it means that their sons or daughters are, at least temporarily, unable to care for their own children. An...
Divorcing A Spouse Who Lives Outside the Country
Given the diverse population of the Bay Area, it’s not unusual that couples get married, then one spouse decides to return to his/her country of origin or another country altogether. It can be for the same reasons that any couples get divorced, including a job...
Trust Administration: Give Careful Thought to Selecting a Successor Trustee
When creating a Living Trust, we encourage our clients to give careful consideration to choosing a Successor Trustee. Depending on the complexity of the estate, Trust Administration can take months, and it can require a significant time commitment. It also requires...
Immigration: Marriage as Fast-Track to Green Card? Not So Fast!
While it’s too soon to know what the Trump administration’s long-term influence on immigration will be, it’s fair to say that it’s not going to get any easier. There is a long list of forms and rules, processes to follow and documents to be submitted. There are...
Midyear Reality Check: 6 Tips for Updating Your Estate Plan
As we near the end of June and sneak up on the Fourth of July, many of us are dreaming of packing the kids off to camp and enjoying a well-deserved vacation of our own. But the halfway mark is also the time to be taking stock. What have we accomplished and what can we...
Deeds: Essential Process for Transferring Interest in Real Estate
A Deed is the legal document that transfers a person’s interest in real estate. It can be transferred to another person or to an entity, such as a Living Trust or a Corporation. It can seem like a small thing, but ask anyone who’s trying to transact business without...
No Living Trust Means Probate; Longtime Partner Loses Home
If you’re reading this story, there’s a good chance you don’t have a Will or Living Trust. Or perhaps you have a Trust, but you created it nearly 20 years ago and it’s sadly out of date. Unfortunately, this is the case for nearly three-quarters of Americans. There’s a...
Uncontested Divorce: Couple’s Divorce Finalized in 7 Months
Divorce is never easy. Even in the best of circumstances, it requires time, a financial commitment, changing environments and sometimes circumstances--in many cases it means downsizing and losing the family home. If there are children, things quickly get more...
Pour Over Will: A Living Trust Safety Net
There’s a perception that Living Trusts are just for old people. Granted, there’s a little more immediacy as we get older and need to be thinking about how we’re going to distribute our assets to our heirs. But the reality is that nearly everyone—especially those with...
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The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation.