Plan for Trustee Succession

Q.  I have a Living Trust. I am the original trustee and my children are the successor trustees.  Do you have any thoughts about easing the transition of trustee duties from me to my children when the management of my finances has become too much for me? A. Yes. It is important for that transition… Read More »

Add Flexibility To Your Trust To Handle Change

Q.  My husband and I are concerned about how to keep our trust up to date in light of changing tax law and changing family circumstances.  What if we are too ill to make changes ourselves. Any thoughts on how we can handle these concerns?                                                 A. With the ever-changing tax landscape, and changes over time… Read More »

Preserving Your Parent’s Low Property Tax on Trust Distribution After Prop. 19

Q. My mom owned her home for 25 years before she recently passed. Her trust leaves it 50-50 to my brother and me.  I would like to keep the home by purchasing my brother’s interest for cash, and he is okay with that.  Is there a way that we can do this without triggering a… Read More »

Setting The Incapacity ‘Trigger’ in Your POA & Trust: Two Doctors or One?

Q. I am in my late 80’s and am updating my estate plan. I find I have an important decision to make:  in my Power of Attorney (“POA”) and my Trust, if I ever lose mental capacity should I require the opinion of two doctors, or just one, to certify my incapacity before duties transfer… Read More »