Living trusts (also known as “inter vivos trusts” and “revocable living trusts”) help to avoid the delays and high costs of probate, ensuring that your preferred heirs receive your assets, and managing the tax consequences of larger estates. Living trusts …
Two Common Mistakes to Avoid with your Estate Planning
One of the purposes of estate planning is to keep estates out of probate. However, there are some approaches that are commonly used to avoid probate that can create their own problems. Here are two common errors to avoid: Mistake …
Naming Beneficiaries to Avoid Probate: Benefits and Risks
Naming beneficiaries to bank accounts and other assets is a tactic that is commonly used for avoiding probate in California and throughout the United States. Assigning beneficiaries to accounts can offer a few potential advantages: ♦ Low cost: The process …
Why Parents Should Consider a Living Trust
In California and elsewhere, naming beneficiaries to bank accounts and other assets is a common approach to avoiding probate. While this can be a prudent practice for some individuals, this tactic can prove problematic for those who pass away while …
Estate Planning FAQ for California
Yes, you really do need estate planning Thinking about your estate plan, will and living trust can be uncomfortable. It may be tempting to delay it. More than half of Americans do not have a will. But estate planning can provide …