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...
Trust Administration
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...
A trust can protect money for the future
If you're thinking about putting money in a trust fund for your children, you probably want to control how you give it to them. For instance, maybe the trust will set it aside for educational costs or maybe it will pay out when they hit a certain age.There are a lot...
Can you put personal property into a trust?
Trusts are often used to hold financial assets. For instance, you may put cash aside so that an heir can use it to pay for college, or you may set up your life insurance policy to pay out into the trust when you pass away.However, it's important to remember that...
If you want to move money around, use a revocable trust
All trusts are not created equal. They all give you different financial options, and they come with their own advantages and disadvantages, depending on your situation.For instance, maybe your goal is to reduce the tax burden on your estate as much as possible. If so,...
A trust helps make an estate plan simple and accurate
Dying without a will means you have no control over your estate, and it has to go through the court process, passing on to your heirs in accordance with state laws. Even with a will, it can take time and money to show that the will is valid and start to move assets...