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Trusts and Wills: Understanding Differences
ones without probate.” It is important to understand, however, that probate is not inherently bad—and experts even point out that in some cases, such as situations involving debts or conflicts,...
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Heggstad Petitions Explained
are no guarantees in life, and it can happen that the trustor—person establishing the trust—becomes incapacitated or dies before completing the process of transferring assets into the trust. In California,...
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Financial Security: Family Trusts
terms unless they are impossible, illegal, or unconscionable • Investing trust funds using the “Prudent Investor Standard” • Monitoring trust investments • Communicating with trust beneficiaries • Resolving conflicts among...
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Estate Plan: Update vs Rewrite?
Mustering family energy and focus to complete an estate plan once is a pretty big deal, right? While doing so is a gift to everyone involved, estate planning is not...
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Wills, Trusts and Digital Assets
we accumulate. Inventory and Communicate Estate planning and elder law specialists at Wilson & Wilson offer this helpful way to understand what “digital assets” include: “In a general sense,...
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What Is a Trust?
Estate planning increasingly involves the establishment of a trust, which is a practical way to designate funds for our own needs and for beneficiaries, including children or those with...
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Directed Trusts: A Basic Overview
of a directed trust, including information sharing among trustees and trust directors, the procedures for accepting appointment as a trust director, [and] the distinction between a power of direction and...
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Gen Z Beneficiaries?
financially lucrative, by including an income matching provision. If the chosen profession does not provide sufficient wages, the trust can authorize payment of expenses…. Detail Intentions When opting for...
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Estate Planning: Fiduciaries?
...gathering assets, taking assets through the probate process, and distributing assets according to your will. Executors are also responsible for completing court filings, paying taxes, and taking care of any...
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