HOW TO ACCESS CASH ON DEATH (CASH AVAILABILITY PLANNING) By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Website: TrustandProbateLawyers.com Typical problem. We all need spendable money to survive from day…
SECOND SPOUSE TRUST PLANNING By: David L. Crockett, Attorney, CPA UCLA Law School ’69, UC Berkeley ’66 Newport Beach, Ca 92660 949-851-1771 www.trustandprobatelawyers.com david@clcnewport.com 4-17-20 CAN THE TRUSTOR PROVIDE FOR HIS 2ND SPOUSE AND KEEP THE FAMILY HAPPY? THE TYPICAL SITUATION. John and Jane have a long and happy marriage…
CORONAVIRUS PANDEMIC ESTATE PLANNING By: David L. Crockett, Attorney, CPA UCLA Law School ’69, UC Berkeley ’66 Newport Beach, Ca 92660 949-851-1771 www.trustandprobatelawyers.com david@clcnewport.com 4-9-20 A QUICK STUDY OF WHAT YOU MAY NEED AND THE CONSEQUENCES OF BEING UNPREPARED TRY TO GAIN SOME BASIC UNDERSTANDING Our way of life has…
TRUST DISTRIBUTIONS (“When do I get my money?”) By: David L. Crockett, Attorney, Certified Public Accountant UCLA Law School ’69, JD degree UC Berkeley ’66, BS degree in Business Administration 901 Dove St., Suite 120 Newport Beach, CA 92660 Phone: 949-851-1771 David@clcnewport.com www.trustandprobatelawyers .com WHEN IS…
Planning Can Still Be Done Where There is Lack of Mental Capacity TYPICAL BASIC ESTATE PLAN GOALS THWARTED People generally do a living trust and will to avoid probate proceedings and to have more flexibility about who will inherit their estate and when it will be inherited. However, on occasion…
Who Will Take Care of My Children and Their Inheritance if the Worst Happens? Types of Guardianships For Children Guardianships For Children – A guardianship is a legal status whereby an adult is given authority to take care of the person of a minor child and/or the estate of the…
Let’s Subtract the Money Johnny Got From His Share of the Estate TYPICAL SITUATION A father dies without a will leaving an estate of $100,000. Under the laws of intestate succession which apply because there is no will, his 4 children are to receive equal shares of the estate which…
Can I give everything to the “love of my life” and keep it secret? NO DISCLOSURE TO OMITTED HEIRS? Up until 1997 a person could legally change his or her estate plan and the people previously benefited did not have any legal way to find out what the situation was.…
INCOME TAX & PROPERTY TAX TRAP FOR PREMATURE GIFT OF HOUSE WAYS TO HANDLE THE FAMILY HOME TRANSFER Retired couples typically have choices about how to pass on the family home. Might they make a mistake and give away the house too soon? They could sell the home and put…
Define Who Will Take Over and Control the Trust After the Trust Creators are Gone TRUST CONTINUES AFTER DEATH OF CREATORS A trust that is typically established to plan for distribution of family assets to the next generation has provisions for successor trustees. Initially, the trust creators, who are known…