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By Tyler P Krueger, Associate Attorney  Is Your Trustee Administering the Irrevocable Trust Lawfully and in Your Best Interest?When a trust grantor passes away, their revocable inter vivos trust becomes an irrevocable trust. When the trust becomes irrevocable, the designated trustee becomes responsible for administering the trust. A trustee that accepts this responsibility has an obligation to administer the trust for the sole benefit of the named beneficiaries in the irrevocable trust document[1]. Unfortunately, some trustees disregard this responsibility and take advantage of their power and resources to benefit themselves. What safeguards can a beneficiary use to protect themselves and their inheritance?
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By Tyler P Krueger, Associate Attorney  If You Fail to Transfer Property to Your Trust Before Your DeathA revocable trust—also called a “living trust”—is a legal tool that is frequently used as part of an estate plan. There are many benefits to using a trust, including the ability to transfer your property where you want after your death. The great thing about a revocable trust is that you can modify it any time during your lifetime. To ensure that your loved ones are spared any legal hassles, it’s important to do things right.
By Sean P. Dougherty, Associate Attorney  What happens when you leave your grandchildren a gift in your trust?It’s very common for grandparents to want to leave a little something for their grandchildren. After all, it’s a grandparent’s job to spoil their grandchildren, right? If you’re a grandparent, you may choose to leave each of your grandchildren a special gift of cash—or even a home for them to live in someday—in your trust.
By Christen E. Bourne, Attorney at Law  What does divorce have to do with estate planning? Quite a lot, as it turns out.It is estimated that between 42% and 45% of marriages in the United States will end in divorce.[1] In California, the divorce rate is even higher—approximately 10% above the national average.[2] Not only is divorce emotionally wrenching, it is also fraught with legal complexities—with nuances you may not even be aware of. If divorce is on the horizon for you, it is important to understand the impact of divorce on estate plans. This is something many people have probably never thought about.
 The advance healthcare directive: power of attorney for healthcare and living willIt can happen to anyone. An unexpected medical or psychological crisis, like an accident, illness, or other event strikes and renders you incapable of making or communicating your own healthcare decisions. Are you and your loved ones prepared? The best thing you can do is plan ahead by preparing an Advance Healthcare Directive (AHCD).
By Tyler P Krueger, Associate Attorney  The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters ActThis article and accompanying infographics seek to explain how Proposition 19 makes significant changes to the parent-to-child and grandparent-to-grandchild property tax reassessment exclusions and some important information you should know if you think you will be impacted by the change in law.
By Tyler P Krueger, Associate Attorney  Changes to Property Tax Rules Can Significantly Impact Your Estate PlanPrior to the passage of Proposition 19, almost any property could pass from a parent to a child without the property taxes increasing. Proposition 19 makes significant changes to the property tax transfer rules for transfers between parents and children that could significantly impact your estate plan.
Is it time to update your estate plan? Check the checklist.
We all lead hectic lives, and for some of us the to-do list keeps us on track. But did you know that when it comes to an estate plan, a checklist can be invaluable? So what should that Estate Plan Checklist include?
Estate Planning is Not a One-Time-Only Event
Life changes. So do people and circumstances. The person you were even a few years ago is probably not the same person you are today.
So those critical estate planning documents, like your advance healthcare directives, powers of attorney, guardianship nominations, wills and trusts need to be reviewed and updated regularly; once a year on your own, and every 5 years with your attorney.
The Longer We Live, the Greater the Chances are of Becoming Incapacitated
It's a frightening thought: The longer we live, the greater the chances are of becoming incapacitated. It's one more reason the attorney's at Rusconi, Foster and Thomas say an estate plan is critical.
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