c. 2011 San Diego Real Estate Law |
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Do you need to Review your Will/Trust and Estate
Plan with an attorney?
You may need to review your will and trust if you have experienced
either a change in your Family Status or a significant change in
your Financial Status.
Changes affecting Family
1. Marriage
2. Divorce, Separation, Death of Spouse
3. Long Term Relationships
4. Birth, Adoption, Maturity, Marriage, Divorce of Children and
Grandchildren
5. Death in the Family or Beneficiaries
6. Serious Illness, Incapacity of Spouse, Child, or Beneficiary
7. Significant changes in relationship to beneficiary
8. Change of residency to another state or country
9. Change of Trustee
Changes of Financial Status
1. Significant changes in income, net worth, or assets
2. Disposal of assets in the will or trust
3. Change in employment
4. Change in business interests - partnerships, corporations
5. Acquisition or disposal of property
6. Retirement
What are the goals for my Estate Plan?
I want to schedule a review of my Will/Trust/Estate Plan.
Plan with an attorney?
You may need to review your will and trust if you have experienced
either a change in your Family Status or a significant change in
your Financial Status.
Changes affecting Family
1. Marriage
2. Divorce, Separation, Death of Spouse
3. Long Term Relationships
4. Birth, Adoption, Maturity, Marriage, Divorce of Children and
Grandchildren
5. Death in the Family or Beneficiaries
6. Serious Illness, Incapacity of Spouse, Child, or Beneficiary
7. Significant changes in relationship to beneficiary
8. Change of residency to another state or country
9. Change of Trustee
Changes of Financial Status
1. Significant changes in income, net worth, or assets
2. Disposal of assets in the will or trust
3. Change in employment
4. Change in business interests - partnerships, corporations
5. Acquisition or disposal of property
6. Retirement
What are the goals for my Estate Plan?
I want to schedule a review of my Will/Trust/Estate Plan.
| Free Consultation Call us Now M-F 9 a.m. - 5 p.m. 619.322.5695 Email Us Mailing Address 7040 Avenida Encinas Suite 104-285 Carlsbad, CA 92011 Recommended Reading: |
Estate and Trust
Planning
Planning
c. 2012 San Diego Real Estate Law |
| | | | | | |
Do I need a living trust?
A living trust/revocable living trust/intervivos trust is vital
to your estate plan. It gives you a basket to place all your
important assets in an organized fashion during your life.
Instead of having a deed, a bank account, a life insurance
policy, or whatever asset you may own in a myriad of
different places, it allows you to compile those assets in one
neat little place. It allows your appointed trustee to easily
identify and access these assets should you become
incapacitated or pass away without the necessity to go to a
judge for authorization.
What happens to property placed in the living trust?
All property placed in trust retains its original character as
community, separate or quasi community property. You
may add property to the trust by titling any account, deed,
or similar asset in the name of the trustee, as trustee of the
living trust. Any designation by someone other than you or
a trustee of the living trust, whether by will, deed, account
title designation, or similar transfer, will also be a transfer to
the trust. While you are alive, you may amend, revoke, or
terminate the living trust.
How does a Will differ from a Living Trust?
A will serves a similar purpose to a living trust but does not
allow others to manage your property upon your incapacity
or death without court supervision. Property distributions
at death will be distributed according to California law that
may not be according to the wishes of the deceased.
Generally, you would still need a will—known as a pour
over will—to cover any assets that have not been transferred
to the trust.
What is the purpose of an Advanced Health Care
Directive?
If you should be incapacitated due to illness or injury you
need someone to have the ability to make health care
decisions on your behalf. This document also allows you to
communicate your desire to end or continue life sustaining
treatments in situations where you are incapacitated,
authorize organ donation, grant access to medical records,
and specify your desired funeral arrangements.
What is the purpose of a Durable Power of Attorney for
Financial Management?
This is a form of power of attorney that allows you to
appoint a trusted individual to manage your finances should
you become mentally incapacitated in some manner.
What are the most recent tax laws that affect my estate
planning decisions?
What are the goals for my Estate Plan?
I want to schedule a review of my Will/Trust/Estate Plan.
A living trust/revocable living trust/intervivos trust is vital
to your estate plan. It gives you a basket to place all your
important assets in an organized fashion during your life.
Instead of having a deed, a bank account, a life insurance
policy, or whatever asset you may own in a myriad of
different places, it allows you to compile those assets in one
neat little place. It allows your appointed trustee to easily
identify and access these assets should you become
incapacitated or pass away without the necessity to go to a
judge for authorization.
What happens to property placed in the living trust?
All property placed in trust retains its original character as
community, separate or quasi community property. You
may add property to the trust by titling any account, deed,
or similar asset in the name of the trustee, as trustee of the
living trust. Any designation by someone other than you or
a trustee of the living trust, whether by will, deed, account
title designation, or similar transfer, will also be a transfer to
the trust. While you are alive, you may amend, revoke, or
terminate the living trust.
How does a Will differ from a Living Trust?
A will serves a similar purpose to a living trust but does not
allow others to manage your property upon your incapacity
or death without court supervision. Property distributions
at death will be distributed according to California law that
may not be according to the wishes of the deceased.
Generally, you would still need a will—known as a pour
over will—to cover any assets that have not been transferred
to the trust.
What is the purpose of an Advanced Health Care
Directive?
If you should be incapacitated due to illness or injury you
need someone to have the ability to make health care
decisions on your behalf. This document also allows you to
communicate your desire to end or continue life sustaining
treatments in situations where you are incapacitated,
authorize organ donation, grant access to medical records,
and specify your desired funeral arrangements.
What is the purpose of a Durable Power of Attorney for
Financial Management?
This is a form of power of attorney that allows you to
appoint a trusted individual to manage your finances should
you become mentally incapacitated in some manner.
What are the most recent tax laws that affect my estate
planning decisions?
What are the goals for my Estate Plan?
I want to schedule a review of my Will/Trust/Estate Plan.
| Free Consultation Call us Now M-F 9 a.m. - 5 p.m. 619.322.5695 Email Us Mailing Address 7040 Avenida Encinas Suite 104-285 Carlsbad, CA 92011 Recommended Reading: |
Estate and Trust
Planning - Living
Trust
Planning - Living
Trust