Trusts, Wills & Probate

Having a baby is the most exciting part of a couple’s life. But after the showers are over and the baby is home safe, it’s time to start thinking about the future once again. Once you add a child to your family, there are several things you need to do for the security of yours—and their—financial future. Take out life insurance.…Read More

When Farrah Fawcet died, she left behind a revocable living trust in which she deeded her art collection to the University of Texas. However, her partner of many years and the father of her child, Ryan O’Neal, removed an Andy Warhol painting from her home. Now, the University already had a copy of this particular painting, but it sued O’Neal…Read More

It seems logical that if you go to all the trouble and expense of planning a trust, you would certainly remember to fund it. However, this is a common mistake people make. No matter how much money you spend or advice you get in setting up a trust, it can’t operate without being funded. To be funded, you need transfer…Read More

The following a recent question received: Q. My father passed away January 19, 2014. His current wife will not let us see his Will. When can we (his children) be able to see his Will? My father told us he had a will made up in 2005 and we were to be in good hands. I am XX years old…Read More

Most people are concerned about providing for their children, but when you have special-needs children, it goes beyond just providing your children with a nest egg after your death. Special-needs children need both to be provided for in part or full, but also have someone who can supervise their care for the rest of their lives. First, you need to…Read More

There are many different ways to do an estate plan, and many of them are “right.” They keep you from getting hit hard with estate taxes after death, they make sure that designated items get to the right people, they provide for the next generation. But they may not do all those things as efficiently as they could. So how…Read More

When your estate contains collector’s items, art, or other specialty items, the values of your items may not be apparent to a layperson. When your estate is comprised of items beyond homes or vehicles, and their distribution is not specified in the will, a professional appraiser can help. Appraisers can be helpful in completing a court inventory, for state or…Read More

Frankly, there are many reasons why you should not add your child's name to the title of your real estate. The creditors of your child could then have a claim to your house. You can no longer decide what you want to do with your house without the consent of your child. Your child acquires your "tax basis" in the…Read More

One of the main reasons it’s important to review your estate plan often is because of the likelihood that you have made a mistake somewhere. Mistakes could be an incorrect beneficiary, not including a large asset, or forgetting to include or exclude someone from your will. Most people’s greatest fear concerning estate planning is the scenario in which an ex-spouse…Read More

Q: Real Estate included in trust?: Created trust in CA. Moved to WA. Trust has pour over will. Title to property in WA in our names but not in name of Trust. Is WA property included in trust by virtue of pour over will? A: Christopher’s answer: First thing: A trust owns assets that you transfer into the trust. While you are alive, title…Read More