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Knowing the basics of trust administration is important when you are named as a Trustee or a beneficiary of a Trust, and the trust creator's assets are titled in their trust, or if there are assets left outside of the trust. Not knowing or understanding your Trustee duties, or Beneficiary entitlements can lead to many challenges and liabilities, and can lead to the intended beneficiaries not getting their share in the trust for months, or, sometimes, years, after the death of the trust creator.

On February 28, 2023, the Federal Housing Finance Agency announced that the annual change in the House Price Index for California for 2022 was $2.26%. As a result, the $1 million amount "reassessment exclusion" from property taxes under Proposition 19, is now adjusted to $1,022,600. This amount will be adjusted again on February 15, 2025.

Homeowners can now designate a third party - a family member or trusted friend, to receive a copy of past due notices for unpaid property taxes, so as to prevent such homeowners from losing their home to an unintended foreclosure for non-payment of property taxes,

While certain types of trusts can protect assets from creditors, they don't all have this feature. This is why it's important to consider your estate planning options beyond a revocable living trust if you wish to safeguard assets for your loved ones. Revocable vs. Irrevocable Trusts There are ma...

If you are buying a home and are wondering what the role of title insurance is, this article is for you. Title insurance policies protect buyers, real estate owners or lenders against any loss or damage they might experience because of liens, encumbrances, or defects that show up in the chain of ...

If you are creating a living trust, the person you select as your trustee matters a great deal. Trustees in California are tasked with many responsibilities and legal duties pertaining to the management and distribution of trust property. The decisions made by your trustee can affect you during y...

When working with Trustees who sell trust real property, we often witness pressure by the trust beneficiaries on the Trustees to distribute all of the net sales proceeds as soon as escrow closes. It is often forgotten that, about six months after the sale, the Trustees will receive a bill from th...

You've created your living Trust – now what? Establishing your Trust is only the first step in ensuring that your property will go to your desired beneficiaries outside of Probate court. The next step is the most critical one - “funding” your trust - whereby you change title to your property into...

It is a common misconception that ANY assets less than $150,000 in value are not subject to Probate. Although that IS true for personal property (accounts, cars, personal items, etc.), this is NOT true for real property. Real property - no matter its value – always goes through Probate Court when...

Legally everyone is entitled to leave their estate to anyone they want. This means that they can exclude (or “omit”) anyone they want from receiving any distributions under a Will or a Trust. Often there is already an expectation that such individuals will feel wronged and will contest the will o...

“I only need a simple Trust” is a request I hear often. However, this “self-diagnosis” may not always be the right one. A “simple” probate avoidance trust may or may not be the best fit for each family dynamic. There are two main factors which dictate the complexity of the trust terms: (1) the ty...

Pet Hospice is becoming a preferred choice of saying “goodbye” to a beloved companion animal. It is more humane for the animal because it focuses on the relief of the end-of-life suffering, and the pet's comfort. It is infinitely more humane for the pet-owner, for whom this is such a painful and ...

It is common knowledge that if one dies without any estate planning (will or trust), their heirs would be able to inherit outright if they are over the age of majority – age 18. But, most agree that 18-year-olds may not be fully capable of managing financial assets and/or real estate. Placing a T...

Your (Testamentary) Word is As Good As the Paper It's Written On A great rule of thumb in estate planning is to document your wishes, so they actually occur when you are gone. While the law definitely does not support “oral promises” when it comes to real estate, the same could be valid for tangi...

The old adage, “He who waits for something good never waits too long,” does not apply in Estate Planning. The topic of testamentary capacity is a very sensitive one, and a fine line to cross. Many times an elder adult can be in good physical shape and carry on a very reasonable conversation, unti...

“My parents set up a Trust to avoid Probate, but now that they are gone, the Trustee won't give us a copy of the Trust, and although we have asked for information about the assets, the Trustee doesn't tell us anything. It's been almost two years; our parents' home is still sitting vacant, and we ...

The Revocable Transfer on Death Deed: are Trusts a thing of the Past? The California legislator enacts thousands of laws each year. On January 1, 2016, Assembly Bill 139 became the law, known as the Transfer on Death Deed, which allows a property owner to name a Transfer on Death Beneficiary for ...

Consider including pet care provisions in your estate plan – set aside sufficient funds to be put in carefully selected hands to take care of your service or companion animals. If you own a horse, or an animal with long life expectancy, you may need more sophisticated planning, including a stand-...