A special needs trust is a legal entity in California that holds financial assets on behalf of a disabled person. Its main purpose is to put a barrier between the individual with special needs and the assets they inherit or receive so that they can remain eligible for...
One of the most popular misconceptions about trusts is that they’re inexpensive to manage, especially once the settlor dies. If you stand to benefit from a trust in San Diego, you should educate yourself about the “hidden” costs of settling the trust after the settlor...
Many people start their estate planning by drawing up a will. Some people take the next step to establish a trust to hold their assets. Trusts accomplish various objectives, and they differ from your will in a significant way. Assets in a trust bypass probate, whereas...
If you live in California and are considering creating a revocable living trust, it's essential to understand the benefits and potential drawbacks of this trust type. A living trust is a legal document that allows you to manage your assets and determines asset...
A trustee is a person who manages and administers trusts. In San Diego and elsewhere, trusts are legal arrangements that set out specific terms and conditions for an individual or group of people. A trustee's role is to ensure that all follow the trust's terms and use...
Bypass trusts are an estate planning strategy that could benefit wealthy couples or people who have children from a previous marriage. This type of trust shelters your assets from federal estate tax up to the exemption amount, and it allows you to include other...
Trusts provide methods for managing significant wealth and assets. When preparing one, you need to make sure that your California trustee will distribute its assets according to your wishes. Why should you set up a trust? Trusts protect assets and wealth for the...
Courts throughout California help people resolve all sorts of disputes. One of the most common disputes in courtrooms involves trusts. If you're going through a trust dispute, there are multiple potential ways to resolve this matter. Sometimes, two parties choose...
Trust funds can be a great way to save for your children or grandchildren's education or other long-term goals. However, it is important to be aware of the tax implications of receiving trust fund money in California. Here's an overview of what to expect. Revocable...
A trust and a trust fund in California seem like identical entities, but each one is defined by slight differences. Understanding the basic definitions comes before understanding the different types of trusts available for their owners and beneficiaries. The...