A Settlor, Trustor, or Grantor all mean the person who creates the trust.
A Trustee is the person who manages the trust.
A Beneficiary is the person who receives the benefit of the trust, this is the person for whom the trust is established for.
You or you and your spouse can be all three: Settlor, Trustee, and Beneficiary of the trust. You and your spouse can be both the creators, managers, and beneficiary of your trust. If you are single, you alone could be the Settlor, Trustee (manager), and beneficiary of your trust. Read More
You can delay distribution until your children reach a certain age. You can have periodic distributions during your children’s lives at specific ages or one payment to your children when they reach a certain age.
Many parents create an educational trust on their passing. An educational trust will place your children’s share of your estate into a trust to be used for their education. Your children’s educational expenses could be paid for from this trust. Education expenses can include: books, fees, transportation costs, tuition, and living expenses. You can determine what expenses you wish to paid for regarding your children. When your children turn a certain age, they would receive any remaining balance from their share of the educational trust, as you decide. Read More
An Advance Health Care Directive, sometimes called a Living Will, allows your Agent to make health care decisions for you if you cannot make those decisions yourself. Read More
This is a Power of Attorney set out in California law that allows your Agent to make financial decisions on your behalf. Your Agent is the person you nominate to make financial decisions for you. The purpose of the Power of Attorney is to give full legal authority to your named Agent to manage your property when you are unable to or when you wish another to manage your financial affairs. Should you become incapacitated, your Agent will use this document to manage your financial affairs. Read More
Every state has their own laws. It is best to have an Attorney in your new home state look at your estate plan to make sure it complies with the laws of that state. That being said, your estate plan should have no problems being accepted to express your intentions and letting your wishes be known in whatever state you are in. Read More
Yes. A will should be drafted in conjunction with your trust. Read More
The assets you transfer to the trust will avoid probate. Read More
Trust administration is when the terms of the trust are carried out after the death of the trustor(s) by the successor trustee named in the trust. Read More
The court determines where your property goes as set out in California law. Read More
The death of a spouse, parent, or loved one is a very difficult time. Important financial decisions must be made during this period of grief and emotional readjustments. This brief checklist was developed to give you an overview of many details which must be attended to, whether or not any prior arrangements were made. Read More