If your family has significant assets to protect (such as ownership of a family business), then it may be wise to consider placing those assets in a trust to be managed for the benefit of you and all of the other family heirs. Yet what is to say that whomever is chosen as trustee will be up to the task? Many who have bee parties to trusts in Westminster have come to us here at The Law Firm of Lan Quoc Nguyen & Associates concerned over the actions of the trustees in their cases, and questioning whether or not there is a way to remove someone from such a role. You may be happy to hear that there is.
When an adult is unable to take care of his or her own affairs, the court may appoint a representative to do so. These people are referred to as guardians or conservators, and they are responsible for making essential decisions on behalf of their wards. The Balance explains some of the key differences between the two roles, as well as their essential duties.
You probably realize by now that having a legal will is important to ensure that when you die, those you leave behind honor your wishes. There are a couple of options for creating a will that will stand up legally in California. One of those options is a holographic will.
The process of estate planning is meant to provide people with control over both the disposition of their assets once they are gone as well as (if necessary) the management of their end-of-life affairs. Yet people cannot plan for the unexpected, and few anticipate never being able to make decisions for themselves. Yet if you have a loved one that has reached that point it may in their best interest for you to step in and seek that they be placed under the care of a conservator.
All adults in the California Vietnamese community should take the responsible step of making out a will. You may understandably be reluctant to think about what will happen after you die, but a will is the best way to assure that your intended heirs receive your estate according to your wishes.
Being disinherited by a loved one can be a hard pill for anyone in Westminster to have to swallow. In the wake of such action, one's immediate thoughts are likely to turn to discovering why this may have happened. One of the more common reasons may be that a testator has been unduly influenced by a caretaker or other personal confidant. The question then becomes how is one to prove this?
If you have business or personal assets to pass on to beneficiaries in Westminster, you might harbor justifiable fears that your succession desires might cause amongst your loved ones once you are gone. You certainly do not want your family members to fight among themselves over the assets you have to leave to them. You might be tempted, then, to include a "no-contest" clause in your will. Such a clause threatens to disinherit one who challenges the provisions of a will. Yet would including such language in yours accomplish your purpose of eliminating the potential for contention amongst your beneficiaries?
Many people think that creating a will is a one-time process. However, there are numerous reasons why you may want to update or even redo your will. Knowing when to revisit this vital estate planning document can protect your cherished assets as well as the interests of your heirs, which is why Forbes recommends updating your will when the following circumstances apply.
Most in Westminster have probably heard it said that people should avoid probate whenever possible. That is because the cost of going through probate is taken from the estate's assets, thus limiting that amount that is left over to be dispersed to one's beneficiaries. Yet that does not necessarily mean that probate is a bad thing. Truth be told, the probate court can offer a personal representative a great deal of assistance in administering an estate. One such resource is a probate referee.
The excitement Westminster residents feel every payday may often be slightly tempered by the knowledge that Uncle Sam is going to take his share. Taxes are an unavoidable aspect of life, yet does the same hold true in death, as well? It is true that there is indeed a federal estate tax. The prospect of having a portion of their hard-earned estate assets going to the government may be downright disheartening to some. Yet not to worry; there is a way for people to avoid having to pay the estate tax.