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Recent Posts in Wills & Trusts Category

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What is the difference between lapse, ademption, and abatement? And why should I care?

In estate planning and inheritance law, some important concepts can change who inherits what from you. Lapse, ademption, and exoneration all relate to the distribution of assets after a person’s ...
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How do Trust assets avoid probate court?

A Trust is a legal document that allows you to transfer ownership of your assets to a Trustee, who then holds and manages those assets for the benefit of the Trust’s beneficiaries. One of the ...
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What is decanting? Can I decant my irrevocable California Trust?

Decanting an irrevocable trust ? California’s trust decanting statute allows for the transfer of trust assets from one trust to another. This process, known as “decanting” (think of ...
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I am getting divorced. Can I set up a Trust for my kids without my spouse's knowledge?

Short answer : No. Long answer : You may create an unfunded Trust for your kids at any time, with or without your spouse's knowledge. Note the word " unfunded ". When a CA resident files ...
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Does This $190 Million Cryptocurrency Mistake Make You Cringe?

This common #EstatePlanningMistake is another example of why we encourage our clients to make their passwords accessible (digitally, or on real paper) to the Executor of their Will, or the Trustee of ...
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Is it true that Aretha Franklin died without a Will?

Yes. According to court records filed this week by her family, the Queen of Soul joins the long list of celebrities (think of Prince, Sonny Bono, Jimi Hendrix) with no written Will or estate plan. ...
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When a CA senior with a joint bank account dies, do the funds belong to the decedent's estate or the co-signer?

California courts have long grappled with this issue -- when a California senior dies with joint bank account, who does the money belong to? Is it the decedent's estate, or the surviving joint ...
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Can my Will leave a gift to someone on the condition that he or she get divorced?

In California, probably not. It's fairly common for a person to want to leave an inheritance to someone, "but not if he or she is still married to that monster." A gift conditioned on ...
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Did Mickey Rooney's widow really contest her late husband's Will?

Yes. According to her attorney, Mickey Rooney's widow just filed a contest of her late husband's Will, in the probate department of the Los Angeles Superior Court. The complete story can be ...
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How can I obtain a Federal Tax ID Number (TIN or EIN) for a Trust?

Applying for a federal Employer Identification Number (EIN) or Tax Identification Number (TIN) is a free service offered by the Internal Revenue Service. Beware of websites that charge for this free ...
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California Supreme Court determines No-Contest Clause Unenforceable

In its most recent ruling about wills and trusts, the California Supreme Court in Donkin v. Donkin (December 26, 2013) ruled that a challenge to a Trust does not trigger the Trust's ...
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May I lodge my original Will with the Court for safekeeping?

No. Only a decedent's Will may be lodged with the Superior Court ( California Probate Code §8200 ). If you're still alive, the court will reject the document for filing. You're better ...
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Do your New Year's resolutions include estate planning?

The untimely deaths of some celebrities ( Paul Walker, James Gandolfini and Cory Monteith, to name a few) in 2013 underscore the need to create your estate plan now. So is one of your 2014 resolutions ...
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I'm a Trustee? What happens if I don't send a §16061.7 notice?

If the Trustee of a California Trust fails to send the required Notification by Trustee (also called a California Probate Code §16061.7 Notice ), or fails to properly serve the Notice on its ...
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I'm a Trustee. How may days before I have to send the §16061.7 notice?

In most cases, California Probate Code §16061.7 requires that the Trustee send the Notification by Trustee within 60 days of the triggering event (usually the death of the Trust's Settlor). ...
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What information must a §16061.7 notice contain?

When the Trustee of a Trust is required to send a §16061.7 Notice (also called " Notification by Trustee "), according to California Probate Code §16061.7(g), it must include 5 ...
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What is a §16061.7 notice?

Under Section 16061.7 of the California Probate Code, certain Trustees are required to send a legal notice to the Trust's beneficiaries and other interested parties. In estate planning law, this ...
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What's the difference between a Settlor, Trustor, and Trustmaker?

A good question. And the answer is quite simple. As used in estate planning law, the terms " Settlor ", " Trustor " and " Trustmaker " are all interchangeable. They all ...
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Is my Will a "Pour-Over" Will?

A " Pour-over Will " is one that leaves your otherwise probatable assets to your Trust. But rarely will you see the words "Pour" or "Over" in the title of your Pour-Over ...
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Do I need a Living Trust?

We get this question a lot. And the California State Bar Foundation (one of our favorite providers of free, easy-to-read consumer guides on many legal subjects) does a good job providing the answer: ...
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Do I have to give a copy of my Trust to the bank?

Your Trust is a private document. It usually contains confidential information about you, your family, and even the people you're disinheriting. You probably don't want the bank knowing who ...
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What does it mean to "fund" a Trust?

When attorneys talk about "funding a Trust", they're talking about the process of transfering assets to the Trust. A Trust (sometimes called a Family Trust, Living Trust, or Revocable ...
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What is a Trust?

Okay, pop quiz. Which of the following is the best definition of a "Trust"? A legal entity that holds title to your assets; The fiduciary relationship between a Trustee (legal title) and a ...
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Do I Need Estate Planning?

When you think about it, estate planning is the process of making decisions now so that other people don't have to guess what you want done later (at your incapacity or death). A good estate plan, ...
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Do I need a Will?

We get this question a lot. And the California State Bar Foundation (one of our favorite providers of free, easy-to-read consumer guides on many legal subjects) does a good job providing the answer: ...
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