Trust assets, jointly owned real estate properties and financial accounts with named beneficiaries are usually not subject to probate. However, any California estate with additional assets worth more than $166,250 usually must complete a thorough inventory and...
San Diego Probate & Estate Administration Law Blog
A guide to special needs trust in California
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...
Can you avoid probate in California?
There are several estate planning strategies that you could use to avoid or shorten probate in California. The benefits of a shorter probate are money savings, passing on assets faster and happier beneficiaries. Transfer-on-death assets You can set up various...
Do you need a living trust or a will?
People in California often become confused between a living trust and a will. Understanding the differences is vital to creating an estate plan. Will definition This legal document describes how you want your assets divided after your death. You must name an executor...
What is a life estate in California?
There are many estate planning terms that you hear thrown around, and it can be confusing to figure out what they mean at times. Before you purchase a piece of property to live in, or even after you've been in your own house for a while, you might consider having a...
Financial planning by age
California residents should consider various financial planning stages depending on their age. In their 20s and 30s, individuals prioritize paying off college debts and establishing a stable household. The accumulation of wealth typically occurs during a person's 40s...
Don’t make these mistakes when writing your will
In California, creating a will can detail your wishes and provide instructions on how you would like your assets distributed after you pass away. The information in this document can secure your loved ones’ future, but it can also cause legal disputes, confusion, and...
Hidden costs of settling a trust
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...
Estate planning steps for new parents in California
The birth or adoption of a child is a joyous occasion. It is also a time to create, review, or update your estate plan so that your child is provided for after your death. Name a guardian in a will Even if money is tight right now, you need to name a guardian for your...
Estate planning after the loss of a spouse
Estate planning in California after the death of a spouse or divorce can be a difficult and emotional process. Understand the unique circumstances that arise in these situations and take the necessary steps to ensure that your assets are protected and distributed...