Barry & Barry

Do you already have a trust? If so, has it been funded? Without funding it, you run the risk that it may not accomplish what you want. Be certain to follow your attorney's instructions, and fund your trust. At the very least, be sure to list in your trust those assets you want to be subject to the trust. On April 13, 2016, the 4th District Court of Appeal issued its decision in the matter of Carne v. Worthington. The decedent had set up a trust in 1985, and funded the tr...ust by signing a deed to the trust. Then, in 2009 he proceeded to set up a new (irrevocable trust) but he did not sign a new deed to the new trust, despite that the property was held in the 1985 trust "as trustee." He merely listed the property in the new 2009 trust. His mistake almost cost his estate the benefit of his intent because he never signed a new deed. Fortunately for the estate, the court of appeal found that in his case, he had manifested sufficient intent to fund the 2009 trust. Moral of the story: Do it right from the start. Don't forget to properly fund your trust or your estate could end up in court with an uncertain future, at great expense. (Carne v. Worthington, (2016) D067756, 4th District, Div. 1). See more

What do Jimi Hendrix, Pablo Picasso, Sonny Bono, Bob Marley, Howard Hughes and Abraham Lincoln all have in common? They died without an estate plan! Their estates ended up in court and in some cases took decades to settle--at costs of tens of thousands and in some cases hundreds of thousands of dollars. Don't leave your loved ones without instructions. A well-thought out estate plan drafted by a competent attorney is essential and will save your loved ones years of stress and money. Living trusts, wills and instructions to physcians speak when you are no longer able to do so. Preapre for the future today with a well carefully thought-out estate plan.