When you draft a will, your main focus may be organizing the distribution of your assets. You can use the will to choose certain beneficiaries and specific assets that you want to go together. In some cases, joint ownership will also be used, such as when passing a...
Lisa Frisella & Kim Neilson
Should a Sibling Be Named Trustee of a Trust?
When setting up a trust, you are required to name both a trustee and a beneficiary. The beneficiary is the person who receives payouts from the trust. The trustee, on the other hand, is the person who makes those distributions. In some cases, this means the trustee is...
Structuring a business if you’re “going it alone”
Starting a business on your own can be an exciting and rewarding adventure. Structuring your business correctly is going to be important when it comes to maintaining legal compliance, protecting personal assets and setting up a foundation for growth and success. ...
How can you pass bank accounts to beneficiaries?
One step that’s critical when you’re getting an estate plan is making a list of all your assets so you can ensure that you’re addressing all of them in the plan. The assets you have will need to be listed in your will or placed in trusts if you want to have a say in...
Do children have to pay their parents’ debts?
Children inherit their parents' assets in most cases. Parents certainly can pick other beneficiaries if they would like, or they can disinherit certain children. But as a general rule, these adult children are going to expect that they will inherit tangible assets,...
How do I discuss my will with my dependents?
Taking time to draft a will is one of the most responsible steps you can ever take. With a valid will in place, you can have peace of mind knowing that your hard-earned assets will pass down to the people and causes you care about. But a will can also be a subject of...
Where can you have your ashes scattered in California?
One of many things you’ll need to think about as you create your estate plan is what you want to happen to your remains. You can make any necessary arrangements, codify your wishes in as much detail as you like and arrange to cover the costs. If you wish your ashes to...
Should You Create a Pet Trust in California?
There are several kinds of trusts, including ones for pets. According to California Probate Code Section 15212, a pet trust is valid until terminated or when listed animals pass on, whichever comes first. While you’re not required to create a trust for your dog, cat...
What is your residuary estate?
If your primary estate plan document is your will, you’ll likely list all of your major assets and whom you want to receive them after you’re gone. You may also detail specific sentimental items, like jewelry or antiques passed down through the generations and who...
The millennial surge in estate planning
In recent years, more and more millennials have been focusing on creating an estate plan. Something that some people believe is only for older individuals or those with a large amount of assets is now being utilized by the younger generation. The question you may...
