OC Trust and Probate Lawyers

Reassess #PropertyTax - A death of a property owner is required to be reported to the #CountyTaxAssessor within a short time after the death. This enables the tax assessor to reassess the property and increase the property taxes. http://www.trustandprobatelawyers.com/reassess-property-ta/

What are the assets in the deceased person’s estate and how will the appointed #PersonalRepresentative go about discovering, identifying, and taking possession and control of the #DecedentsAssets so that they can be used to pay the taxes, creditors claims, and expenses of #ProbateAdmisistration and ultimately distributed to the estate beneficiaries. http://www.trustandprobatelawyers.com/probate-asset-invent/

California has certain standards as to people’s capacity to make wills and trusts. If those standards are not met, then the will and are trust could be declared invalid. When a person becomes incompetent such that they lack mental capacity to do a will or trust a #conservatorship could be formed. http://www.trustandprobatelawyers.com/estate-planning-wher/

Who will take care of my children and their Inheritance if the worst happens? The parent of a minor child has the legal power to nominate a #Guardian of the person. The nomination will typically appoint the #SurvivingSpouse if there is one and then if there is no surviving spouse there will be a list of people. http://www.trustandprobatelawyers.com/guardianships-for-ch/

In many family situations money is passed from parents to children with no documentation and with only verbal understandings. To prevent discord or even litigation among heirs, it would be better to document if any Pre-Death Transfers of money was to be part of inheritance or not. http://www.trustandprobatelawyers.com/probate-counting-pre/

What normally occurs in a bonafide #realestate sale from signing the listing agreement to putting the property on the market, commissions, Multiple Listing MLS, agreement of sale and #Escrow Instructions, #contingencies and property inspections and more. http://www.trustandprobatelawyers.com/real-estate-sales-le/

We are SO CONFUSED! Should we sell house and give the money to the kids? I suppose we could rent? Should we transfer title to the kids? Should we create a Joint tenancy or look into a Living Trust? Will there be tax consequences? http://www.trustandprobatelawyers.com/dont-give-away-house/

Who Will Take Over and Control the #Trust After the Trust Creators are Gone? If the document creating the trust does not specify who the successor #trustees will be, the beneficiaries of the trust will have to go to court to get somebody appointed. http://www.trustandprobatelawyers.com/estate-planning-succ/

California law presumes that everyone has the mental capacity to make a trust. Thus, if someone challenges a trust in court for lack of mental capacity it is up to the challenger to prove lack of capacity with sufficient evidence. http://www.trustandprobatelawyers.com/mental-capacity-to-m/

If you are rich enough your #estate will pay a 40% #tax above the exemption UNIFIED TAX CONCEPT Under the federal estate taxes and #GiftTaxes laws, the amount that one gives away during one’s lifetime counts toward the entire exclusion from estate and gift taxes. http://www.trustandprobatelawyers.com/federal-estate-taxes/

#Partners pay tax on income earned even if it is not paid out to them The taxation of #FamilyLimitedParnerships should be carefully considered in advance of setting up and rolling out your new FLP. http://www.trustandprobatelawyers.com/taxation-of-family-l/

I was just put in charge of administering a #Trust so what do I do? #TrustAdministration Basics for Newly Appointed #Trustees. Here is the EXTENSIVE LIST. You may want a lawyer to be on your team. The Trust will pay the attorney’s small fees. http://www.trustandprobatelawyers.com/trust-administration/

A Life Insurance Trust is a permanent, irrevocable trust that is established to own one or more life insurance policies that cannot be altered, amended, or revoked. http://www.trustandprobatelawyers.com/life-insurance-trusts/