As of January 1, 2019, California is now the 29th state to adopt a Trust Decanting statute, now codified in Probate Code §’s 19501 et. seq. and referred to as the Uniform Decanting Act (SB 909). The Act generally prescribes the scope of decanting, based in large part upon whether the trust fiduciary has “limited”, Read Full Article
Article Category Trust Administration
Q. Back in 2001, my husband and I created a Living Trust with provisions to avoid estate tax upon our passing. I believe it is called an A-B Trust. When my husband died two years later, my attorney helped me divide the trust assets between the A and the B portions. The problem: my CPA just Read Full Article
Q. My wife and I created a Living Trust about 15 years ago. She recently died and I just re-read our trust. To my surprise, it requires that her half of our assets go into a Bypass Trust and greatly limits my access to that portion. This comes as a surprise, as we always intended Read Full Article
By Gene L. Osofsky, Esq. * An Earlier draft of this article was first published in the Legal Network News of the California Advocates For Nursing Home Reform, Volume 23 No. 2, Summer 2012. It was designed for Elder Law attorneys practicing in California. ———— Bypass Trusts Pose Special Problems for Medi-Cal Planning By Gene L. Read Full Article