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...
Trust Administration
What is trust administration?
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...
Some drawbacks to resolving trust disputes through arbitration
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...
How California taxes trust fund earnings
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...
The differences between trusts and trust funds
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...
Why you may need a pro trustee in California
Everyone in California wishes to make it easier for their loved ones to receive their inheritance. So, they plan their estate to the best of their interests and that of their beneficiaries. But, issues still arise after their death that can tear their family apart,...
How a revocable living trust works
Getting older in San Diego means taking on new responsibilities. One will be deciding how your estate is divided among your heirs. You will need to be able to protect all of your assets. This means making sure that the person you name as your trustee is in a position...
Why may a trust be modified?
The general idea behind an irrevocable trust is that it cannot be changed or modified after it is created. However, even though this sounds like a fundamental rule, there are exceptions. It depends on how the trust was created and exactly what rules were laid out. In...
Education trusts are not just for college
When people generally talk about education trusts, they mean that the money can be used to pay for tuition and related costs at a college or a university. It is important to note that, while this is how it often works, the trust does not have to be so limited. It can...
Creating a trust that plans for the unexpected
When you create a trust, it is important to think about the unexpected -- about the things that may happen that you cannot predict. You do not want to accidentally keep money from your heirs when you would have preferred to pass it on to them. You can't change the...