Results-Oriented: Creative, Strategic And Skilled Legal Techniques
Administering someone’s estate for the first time can be daunting, so it’s important to be proactive. Otherwise, the responsibility or the scope of the tasks can overwhelm you. The following three things can make the process simpler. 1. Be methodical You’ll need to...
When someone passes away, creditors may make claims against the estate, seeking payment for money that is still owed. A simple example would be outstanding credit card debt that was never fully paid off. But creditor claims can also involve mortgage loans, car loans...
Trustees must manage resources according to the instructions provided by a trustor. They may need to distribute resources to beneficiaries and make decisions about the management of key assets to preserve their value. In some cases, they may end up accused of...
A trustee’s obligations may include long-term asset management. They may need to maintain real property, help run a business or make decisions about investment resources. Generally speaking, trustees must act in the best interests of beneficiaries to uphold their...
When an estate goes through probate, assets are passed down to beneficiaries. If someone does not have an estate plan, then state law will dictate who should receive those assets, generally focusing on next of kin. If the person does have an estate plan, they can...
When drafting an estate plan, you do not necessarily have to split up all of your assets equally. Many people do, but do not assume that there is a legal obligation to leave all beneficiaries an equal portion. You do have the option to use unequal bequests, such as...
Most of us grew up learning that promises matter. We teach our children to keep their word and expect others to honor commitments made to us. But what happens when a loved one verbally promises you an inheritance and then passes away without putting it on their will?...
When a person dies, the estate pays off bills before family members receive any money. In California, the person in charge of the estate manages this process. Knowing what to pay first helps families understand why getting an inheritance can take time. How heirs pay...
When someone dies here in California, their estate must go through probate before any assets can be passed on to their heirs and beneficiaries. Part of that process involves the estate paying off any outstanding claims from creditors who submit bills to the estate....
An executor is responsible for managing an estate's assets after a loved one has passed away. During the probate process, the executor will resolve the estate's debts, file taxes and distribute any remaining assets to beneficiaries. An executor has a fiduciary duty to...