Recent changes to Medi-Cal eligibility rules are affecting how people plan their estates and use living trusts in California. These changes can change how people organize their assets to qualify for benefits and protect their loved ones. It is important to understand...
Understanding the tax responsibilities of special needs trusts is crucial for effective financial planning. Special needs trusts can be either first-party or third-party, and each type has different tax implications. Knowing how taxes work with these trusts helps...
Pets are part of the family, and many people want to make sure their pets are cared for after they're gone. A pet trust offers peace of mind by providing for a pet's care if the owner passes away or becomes unable to care for them. This legal arrangement ensures pets...
Charitable trusts offer a unique opportunity to support the causes you care about while also providing significant benefits to your estate and your beneficiaries. When your legacy and personal preferences matter to you, a charitable trust could provide the flexibility...
Trusts provide for the distribution of your assets according to your wishes after you die. Establishing this estate planning tool may also provide tax advantages. You can choose from many common types of trusts used for estate planning in California. Revocable living...
The probate process can prove challenging, especially in terms of lengthy time commitments and court-related expenses. Furthermore, probate disputes sometimes surface, fracturing family relationships. Those who wish to avoid probate should carefully review their...
In addition to wills and other estate planning tools, trusts are also crucial when it comes to protecting your assets. Trusts offer a wide range of benefits, including providing more control when it comes to asset dispersal. However, you must understand how trusts...
A trust is a handy tool to use as you create your estate plan. It can allow you to do many things with your assets and can even serve to protect your assets. However, you will have to choose the right type of trust. A revocable trust is fluid. You can make changes to...
Planning out your later years is what the majority of estate planning focuses on. This includes powers of attorney, medical arrangements and trusts to help protect your assets after your death. However, trusts that help pay for your death are useful as well. Having...
The type of trust that you create may determine when to transfer property or funds to it. Forbes notes that with a living or revocable trust, you may add assets whenever you wish. During your own lifetime, for example, you may add and sell property held in the trust...