A Qualified Domestic trust is also known as the QDOT, or QDT, and enables a non-U.S. citizen spouse of a U.S. citizen to qualify for an unlimited marital deduction. This prevents the survivor from keeping the estate from being subject to federal taxes. Continue reading
Estate planning involves a transfer of wealth in families between generations. This is often a contentious and complicated process because no one relishes speaking of their own death, and how to disseminate their personal property among loved ones. This leads parents to make these decisions without involving their children or heirs so as not to burden them with such a morose topic, but this causes confusion, disputes and litigation against other family members and even personal attorneys. Continue reading
All of your belongings constitute your “estate.” These include your portable belongings (i.e. clothing, automobiles and cash) and your fixed property (i.e. land). When you die, all of your belongings will be placed in an estate for distribution. Therefore, you might want to contact a Palm Springs estate planning attorney to ensure that your children have a positive future. Continue reading
When a loved one dies, you will naturally go through a lot of emotions. You probably don’t have the emotional fortitude or legal background to deal with all of the issues, which may arise during the probate process of asset distribution. This is when a Coachella Valley trust litigation attorney can be essential. Continue reading
The term probate estate is in regards to any assets that are left behind when an individual dies. All fifty states require probate unless protection has been ensured with a trust. Probate validates wills, pays any debts and divides the assets among the existing beneficiaries. Continue reading
Probate is a legal process following the death of an individual. You will encounter this if the owner of the property you are listed as beneficiary dies.
Steps followed during the process include:
- Proving the will of the deceased person is valid in court.
- Identification and appraisal of the deceased’s property.
- Payment of taxes or debts owed. Continue reading
Some people are not comfortable discussing death and illness with their aging parents. In truth, all of us will get older and have to rely on others for various forms of support. While the aging process can be difficult you can lessen the strain by planning ahead of time. It is important to sit down with your parents and discuss their future with them. Continue reading
Estate planning is a complex process that involves the passing of inheritance from one generation to another. It can also be a primary source of contention among family members, however, many of the disagreements can be eradicated with proper estate planning and execution. Continue reading
Many people think of a probate litigation case, as a case that occurs after a person is deceased. That is only partially true as these cases can certainly involve cases involving wills, trusts, estates, asset disputes, joint bank accounts, gifts. There are many cases, however, that occur while a person is still living. Continue reading
We work our entire lives to be prosperous and leave a legacy for our loved ones and charities we care about. Tomorrow is promised to no one and there should be legal documentation in place to ensure everything that has been worked for will be utilized how you see fit. Continue reading
Probate court can be expensive, time-consuming and take the power to disperse family assets out of your hands. Estate Planning using a will & revocable living trust can ensure that your wishes are properly executed. Learn how our Palm Springs trust and estate law firm can help organize your inheritance property to avoid family disputes.
What is a Special Needs Trust?
When doing your estate planning, consider discussing with your Palm Springs disability attorney the benefits of having a special needs trust. This kind of trust allows loved ones to provide for family members with a disability, but ensures that they will still continue to receive government healthcare benefits such as Medicaid or Medicare and financial support such as SSI. The total sum of money that you allot to them is kept in a special fund, which distributes a set monthly amount to them that is within the government guidelines of what they are allowed to receive and still keep their benefits.
Power of Attorney is an important legal binding in the form of a document that gives broad powers for another person, the agent, to make a broad range of legal decisions on behalf of an individual, the principal. The person with Power of Attorney may sell property, sign contracts, make legal decisions, and make health care decisions. Continue reading
Trusts are often a complicated area of the law. A trust is formed when a person transfers their property to a beneficiary, giving them the benefit of the property. This individual is the trustor. In turn, the individual who receives the item is then known as the trustee. It is important that you know these roles as you begin to explore the laws surrounding trusts. Continue reading
An estate trustee has the huge responsibility of properly executing the last will and testament. He is legally appointed to carry out the wishes of the deceased. However, many times problems exists whenever the trustee does not act in the best interest of the estate, and it’s necessary to remove the trustee as soon as possible. This is when seeking the service of a Coachella Valley trust and estate law firm is extremely important. Continue reading
Within the next couple of decades, trillions of dollars will be left to children by their parents. When you plan to leave a significant amount of money to your loved ones, it’s important to do it the right way. Here are several steps to remember if you plan to leave your children an inheritance. Continue reading
Our Palm Springs estate planning attorneys have experience in surveying its clients’ finances and then appropriately advising clients on the best way to separate and disperse money, property, and other assets in a manner that assures that the needs of the clients are being met. Continue reading