Posts Tagged "estate planning"

Ten Essential Tasks for Every Trustee

Posted on Dec 20, 2016 in California Wills, Estate Planning, San Diego Lawyer | Comments Off on Ten Essential Tasks for Every Trustee

Ten Essential Tasks for Every Trustee So you’re the trustee, now what? Here are the ten things every trustee is responsible to do.What is a Trustee? Merriam-Webster’s dictionary defines a trustee as “one to whom something is entrusted.” In a legal sense, we’d define a trustee as a person or organization that has been given responsibility for managing someone else’s property or money through a trust. What does a trustee need to do?  1 – Invest and manage the assets. Trustees have an obligation to invest trust assets with minimal risk of loss. If an...

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Can You Get a Loan on Your Inheritance?

Posted on Aug 4, 2016 in Estate Planning, San Diego Lawyer | Comments Off on Can You Get a Loan on Your Inheritance?

Can You Get a Loan on Your Inheritance? Here is a new idea for people inheriting property: You can, in fact, take out a loan on your inheritance! Why would you want to borrow money against your inheritance? Let me explain. It is pretty common for children to inherit a house or houses as part of a parents’ Estate Plan. Sometimes, however, more than one kid (beneficiary) wants to have the house but there is not enough money in the Trust (or Estate) to give the house to one and an equivalent amount of cash to others. So what do you do? How can you make an equal distribution to all the...

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Death Tax: Is it fair to tax people at death?

Posted on Mar 29, 2016 in Estate Planning, San Diego Lawyer | Comments Off on Death Tax: Is it fair to tax people at death?

Death Tax: Is it fair to tax people at death? On Tuesday’s Word On Wealth radio show, www.KPRZ.com, I answered the following questions: Why do I need a Will or a Trust? A man ready to retire owns a modest home but has no estate plan – no trust – no Will – nothing. He figures it is not a big deal because he will just let his children have the house.  Assuming he dies first, his children would most likely end up with the house as joint owners. They would be partners in owning the house whether or not the chose to be. The children would take title to the house after it...

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Money and Trusts, Frequently Asked Questions

Posted on Mar 8, 2016 in Estate Planning, San Diego Lawyer | Comments Off on Money and Trusts, Frequently Asked Questions

Money and Trusts, FAQ Marty Schneider, the Retirement Professor, asked me questions the following questions on our radio show today: What happens to money outside of the Trust when the trust creator dies? The money must be transferred to the Trust but may require court orders to make the transfer. Smaller amounts of money can be transferred through the use of Affadavits. How can you make sure that life insurance is in the Trust? You can look in our your original policy or ask the insurance administrator or company to provide that information. How can you make sure the bank accounts are in...

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Estate Planning Fatigue

Posted on Nov 12, 2015 in California Trusts, California Wills, Estate Planning, San Diego Lawyer | Comments Off on Estate Planning Fatigue

Estate Planning Fatigue According to a recent survey conducted by CNBC.com, more than one-third of high-net-worth families have not set up a basic estate plan to protect and provide for their loved ones when they die. The survey found that 38 percent of millionaires with investable assets of $1 million or more have not established an estate plan with the help of a financial expert. Millionaires with $5 million or more were more likely to have an established estate plan with 68 percent having one. The survey also found that Republicans were more likely to use a financial advisor to set up an...

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