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 »
Posts Categorized: Trust Administration
Selling or Refinancing Your Home When Your Spouse Can’t Sign
Q. My husband has dementia and I wonder about my ability to refinance or even sell the home, as he cannot sign. The home is held in a Living Trust. Can you advise? A. The short answer is that, under these circumstances, it may be easier for you to sell the home than it would… Read More »
Decanting: A New Way To Reform A Trust After the Death of the Trustor
Q. My brother created a trust a few years back, naming our sister as one of his beneficiaries and me as the Trustee. He recently died and we now have a problem: our sister receives public benefits (Medi-Cal and SSI) and the receipt of an inheritance would cause her to lose those benefits. Is there… Read More »
Why Amending A Trust Isn’t Always A Simple Task
Q. My late wife and I set up a trust about 10 years ago, and now I want to change the Successor Trustee and remove a beneficiary. Is that a simple thing to do? A. Like so many things in life, it depends. Here are some of the considerations: Is It Amendable? Not all trusts… Read More »
8 Questions to Ask Before Agreeing to Be Trustee
Q. A close friend asked me to be the Trustee of his trust in the event of his incapacity or death. While it is an honor to be asked, I wonder what questions I should ask before accepting? A. It is indeed an honor, as it means that your friend trusts your judgment and is… Read More »
New Protections For Widowed Homeowners Facing Foreclosure
Q. I hear there is a new law which protects widows from losing their homes in foreclosure when a spouse dies. Do you know anything about that? A. Yes. I believe you refer to the new California law referred to as the “Survivor Bill Of Rights” (SB 1150), effective January 1, 2017. SB 1150 now… Read More »
Trusts Will Still Be Useful Even If Estate Tax Is Repealed
Q. I hear that the federal estate tax may be repealed during this administration. If that happens, will trusts still be a useful estate planning device? A. In a word, yes. But remember, the federal estate tax now only kicks in if your estate is valued at more than $5.49 Million at death (2017). At… 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 »
Administering a Trust: Who Is Entitled to Trust Information?
Q. My sister just passed away and had previously appointed me as trustee of her trust. She was estranged from one of her sons and left him nothing on purpose. However, I anticipate that he will demand a copy of the trust and information about her estate. Am I my legally obliged to share any… Read More »
New Law: Medi-Cal To Dramatically Scale Back Estate Recovery
Q. My husband receives a Medi-Cal subsidy to help with his nursing home expense, and I have long worried about protecting our home from a later Medi-Cal “payback” claim. I heard there might be some changes coming. Do you know anything about this? A. Yes, indeed, there are big changes coming! Gov. Jerry Brown just signed… Read More »