Q. My brothers and I plan to buy a home together, and wonder whether we should take title to the home as joint tenants or as tenants-in-common. Can you explain the difference? A. Sure. There are distinct differences between these forms of ownership. The principal differences pertain to the equality of ownership and the right… Read More »
Posts Categorized: Probate
When Your Most Valued Assets Are Not Covered by Your Will
Q. My wife and I hold title to our home as joint tenants, and most of our cash assets are in the form of two large IRA accounts and one big annuity. We have basic wills which leave everything to the other and then on to our children. Our son suggested that our wills may… Read More »
What Happens If The Will Has Been Lost?
Q. It seems that my father lost the will that he signed some years ago. It might have been misplaced when he moved from his home into an assisted living facility two years ago, but we only just noticed its absence when we were helping him organize his papers and affairs. What do we do?… Read More »
Senior Alert: Medi-Cal Eligibility Rules Are Changing For Those Over 65!
Q. I heard that the Medi-Cal rules to qualify for a long-term care subsidy are about to change. This would be very important to us, as my husband, now aged 85, will soon need care in a nursing home, and we are very concerned about the cost. Do you know anything about this? A. Yes,… Read More »
Understanding “Living Trusts “
Q. My wife and I don’t really understand what a “Living Trust” is and how it is different from a Will. Can you help us understand it? A. Yes. A “Living Trust”, is a legal document which (1) provides for asset management in the event of your incapacity, and (2) allows your assets to go… Read More »
Considering Remarriage? Better Also Update Your Wills, Trusts
Q. My fiancé and I will soon marry. We both have our Wills and Trusts already set up as we wish, as we both have children from prior relationships and we each want our own assets to go to our own kids. Is it still necessary to update our Wills and Trusts? A. Yes! Unless… Read More »
The 5 Parts Of A Good Estate Plan
Q. My wife and I would like to set up a basic estate plan. What are the essentials? A. Many people believe that if they have a will, their estate planning is complete. But, actually, there is much more to a good estate plan. A good plan should be designed to avoid probate, minimize estate… Read More »
What Happens If a Die Without a Will?
Q. If I die without a will, do my assets go to the state? A. Generally, no. The state would be the last potential recipient, and then only if your successors or next of kin could not be located. Here is how your assets would be handled under California law: Joint Tenancy Assets: Assets held… Read More »
Settling a Small Estate Without Probate
Q.. My father recently died, leaving his home in a Living Trust. He also left several bank accounts, which together total about $100,000. Our problem: the accounts were never actually transferred into his trust. Is there a way to deal with them without going through probate? A. Yes, there is. And, by the way, your… Read More »
What Is a Life Estate Deed?
Q. My primary asset is my home, which I purchased about 40 years ago and now own free and clear. I would like to leave it to my children, but in a way that avoids the fuss of a probate or trust administration when I die. Is there some way to do this? A. Yes,… Read More »