by jasonsbuckingham | Mar 15, 2022 | FYI
The information provided below is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. If you would like to schedule a free consult call, you can contact us by clicking here.
by jasonsbuckingham | Jun 14, 2022 | Estate Planning, FYI
Estate plans are intended to take a lot of the guess work out of what should happen if something unexpected comes up in the future. The information below describes some possible what-if scenarios, and how the estate plan documents often address those scenarios. What...
by jasonsbuckingham | May 25, 2022 | Estate Planning
This post is a follow up to my last post about the various estate plan documents and what they do. There is no one-size-fits-all approach to estate planning. People do not need a full-blown estate plan at all times. Why not? Because estate planning is all about...
by jasonsbuckingham | May 18, 2022 | Estate Planning, FYI
One of the most common questions about estate plans is: What’s the difference between a trust and a will? In California, the difference is big if you’re a homeowner. Basically, having a properly prepared and funded trust means avoiding Probate, while having just a...
by jasonsbuckingham | May 13, 2022 | FYI
Here’s a common scenario in making trust distributions: The trust estate contains cash (most commonly from a home sale), and some items of valuable personal property like a car. We have two or more “residual” beneficiaries who will receive equal...
by jasonsbuckingham | Apr 25, 2022 | Estate Planning, FYI
To borrow a phrase from Rod Serling, imagine if you will: You did the responsible thing by executing an estate plan to get your affairs in order. Your documents include incapacity documents — an Advance Health Care Directive for medical decisions, and a Durable Power...
by jasonsbuckingham | Apr 20, 2022 | Estate Planning, FYI
Beneficiaries are often uninformed when it comes to estate administration. There are two things beneficiaries should know: (1) as beneficiaries, they have rights during the administration; and (2) the administration will take time, so a little patience goes a long...
by jasonsbuckingham | Apr 12, 2022 | Estate Planning, FYI
In a previous post, I wrote about qualities a successor trustee should have to ensure a successful trust administration. While it should go without saying, there will be problems when a successor trustee tries to administer a trust estate if they lack knowledge and...
by jasonsbuckingham | Apr 8, 2022 | Estate Planning, FYI
As required under Probate Code § 890, on April 1, 2022, the Judicial Council of California adjusted the maximum probate exemption values. Prior to April 1, a person’s estate had to go through probate if its gross value was more than $166,250.00. As of April 1,...
by jasonsbuckingham | Apr 4, 2022 | FYI
The real risks for most ordinary estate plans come from a lack of knowledge, which can cause your loved ones unnecessary stress in dealing with your affairs, or worse, can allow you or your loved ones to be taken advantage of by unscrupulous people. You can protect...
by jasonsbuckingham | Mar 28, 2022 | Estate Planning
As they say: “timing is everything.” When it comes to getting affairs in order through an estate plan, this is certainly true. Aside from the obvious case of passing away before executing an estate plan, there is another, often thorny situation when it becomes too...