How many of you out there are in 2nd and 3rd marriages? Raise your hands. How many of you raising your hands are agreeing to leave your spouse a right to occupy your Separate Property home or your one-half community property interest in the home after your death? OK, now how many of you have…
A Study of the Living Trust Over the last twenty-five years, I have been asked thousands of questions regarding the Living Trust by clients and readers of my legal articles. I find that the questions and responses allow for a unique learning experience in understanding the Living Trust. Some of the questions reveal real life issues…
Natural Death (Part II) Previously, we discussed the issue of energy in the termination of life process. In this newsletter, I want to discuss the critical topics of nutrition and hydration. These issues are greatly misunderstood by much of the public based on the fact we aren’t aware of the ramifications of Natural Death. In a 60 Minute…
The following represents excerpts from the book, Dying to Know by Tani Bahti and my view and comments on the particular issue. The issue of death is difficult for some people to address and plan for, but in Estate Planning, it is a necessity. We must accept the fact that death is a certainty. It is the…
Living Trust v. Financial DPA Roles of the Fiduciaries If you are reading this, there is a good chance you already have a Trust. As I’m sure you’re aware, when you executed your Trust, you designated a Successor Trustee who will manage your Trust assets once you are unable to (upon your incompetency or upon your death)….
“It’s Late in the 4th Quarter and I’m out of Timeouts.” This is a statement made to me by one of my good friends in Houston when I inquired as to how he was doing. Jim is in his late 70s and has a couple of health issues. Jim is a very amusing guy and, as…
Unbeknownst to many, a necessary step in creating your Living Trust agreement is funding the Trust. You can create a Living Trust, notarize the document and place the Trust in your safe. However, without funding the Trust, it may not protect any of your assets upon your demise. Once a Living Trust is established, the assets the Trustor…
I was involved in a consultation with a potential new Living Trust client the other day which has prompted me to write this article. I will quote a few of his comments which demonstrates the client confusion. He said, “Mom has appointed me Conservator and I am already Executor of her Trust. I want to appoint…
Tax Issues for the Children Problem: If you have an A-B Trust which mandates the division of the Trust estate on the death of the first spouse, you are probably creating tax issues for your children or Trust beneficiaries. If you are a surviving spouse with an A-B Trust which has already been divided, you…
The Living Trust Advisory Newsletter – Part 2 A Series of Articles on Living Trust Catastrophes (As Seen by an Experienced Living Trust Attorney) “The Hidden Powers” — Powers of Appointment. Many clients shop for the cheapest Living Trust online or through San Diego Trust Mills. These are attorneys who advertise regularly in local papers and offer…
The Living Trust Advisory Newsletter – Part 1 A Series of Articles on Living Trust Catastrophes (As Seen by an Experienced Living Trust Attorney) “You Think You Got Problems.” I have drafted Living Trusts for almost thirty years. During that period of time I have had the opportunity to review many housands of Trusts and how they…
Estate Planning and Divorce – Clients contemplating divorce need to consider revision of their estate plans. Dissolving a marriage often renders previously prepared estate plans ineffective and couple’s marital assets are subject to certain laws dealing with intestate succession. Intestate succession is the method by which property is distributed when a person dies without a…