Have you ever heard of a situation in which a son or daughter lost their inheritance in a divorce, lawsuit or creditor claim against their spouse? It happens frequently in community property states like California. Typically, on the death of the surviving parent, a son or daughter will receive his/her inheritance and place it in…
Talk about a costly minefield for young adults failing to utilize a Living Trust in California. It happens quite frequently because young adults with minor children, whether couples or singles, do not think about death or incapacity. Right? Right! Their minds are on their jobs, acquaintances, social lives, and of course, their minor children. So…
Seminar attendees have been astounded to learn that everything they have done to create a Trust estate and an inheritance for their children or heirs can be undone after their death. That’s right, it can all be substantially changed to thwart their objectives. They are found in almost any Trust and if not fully understood…
Take a look at the beneficiary distribution provisions of your Trust. If they conclude with the terminology, “outright and free of Trust,” there is no asset protection for your beneficiaries, usually your children. Let’s look at an example. Joyce and Joe have a Living Trust for the family designating their three children, Jim, Jane, and…