Establishing your estate plan including a Living Trust is merely the first step in avoiding probate and allocating your assets to your loved ones on your death. Trust maintenance must follow to fund the Trust with change in assets, life changing events (death, divorce, inheritance, etc.), and occasional changes in…
California law (Probate Code Section 15212) provides for the ability to leave your assets for the benefit of your animal(s). The following are the key issues that must be addressed when drafting a valid Pet Trust: Definition of the animal(s) covered under the Trust; Caretaker for the animal(s) who is…
What is a Heggstad Petition? Drafting a trust and funding it (changing title to your assets to the name of your trust) is a multi-step process. If a person fails to fund or title his/her property in the name of the trust during his/her lifetime the “Heggstad Petition” (named after…
Your trust likely has an investment standard — a prudent person or a prudent investor standard. But what are the differences between the two? See below. Prudent Person Standard A prudent person standard means your successor trustee needs to invest your assets prudently. In other words, your successor trustee cannot…
More and more clients are coming to us owning cryptocurrency. Cryptocurrency is a unique asset and how to handle this asset is unique as well. Cryptocurrency isn’t a common asset left in an estate like a bank account, and many people are unfamiliar with digital currency. By leaving a detailed…
