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Trusts are a popular estate planning tool for California residents. One of the options is an irrevocable life insurance trust (or ILIT for short), which is a popular option for a few reasons. Benefits of an ILIT The ILIT - as the name suggests - is made with a life...
A special needs trust in California holds funds to provide for the special needs of a mentally or physically disabled individual. This type of trust provides for a person's supplemental needs that are separate from regular living expenses. First-party trusts A...
If you have a loved one with special needs, it's important to plan for their future. A special needs trust can be a great option, and it's not as difficult to set up as you might think. What is a special needs trust (SNT)? A special needs trust is a type of trust that...
An important consideration for people who have a beneficiary with special needs in California is whether to set up a special needs trust or an ABLE account. These are two possible estate planning strategies to consider. You probably don't want to leave them an...
Estate planning looks different for every California family. While some families’ estate planning needs are covered by just a last will and testament, other families might need more. Families in those situations most often turn to trusts. Trusts are a great way to...
When you've worked hard your entire life to save money or acquire valuable items, you'll likely want to eventually pass the items in your estate to your relatives. However, the process of passing down your assets could go wrong if you don't know the proper steps to...
Are you getting ready to plan your estate in California? This is a task that should only be entered upon after plenty of careful preparation. Part of this preparation may include getting up to speed on concepts like pooled special needs trusts. What is a pooled...
California allows you to set up a charitable remainder trust, or CRT, and include it in your estate plan. A charitable remainder trust pays out income to the beneficiaries during your lifetime and transfers what's left in the trust to the designated charity after you...
Are you worried about how your pet will be treated after you have passed? If you live in California, you may be interested to learn about pet trusts. This is a trust that you can form on behalf of your pet. You can set it up in order to ensure that someone will be...
Are you reaching the age where you may need to consider long-term elder care? If you live in California, there are several avenues available. The key to success in this area is knowing the type of arrangement that is right for your needs. This is a time in which...
