As we enter the New Year, it’s a good time to revisit your estate plan. The big question is whether your will, trust, power of attorney, and advance health care directive accomplish your personal objectives. Guidance from an estate planner will help you review your plan in light of tax and other changes in the … Continue Reading
Many California trust and estate disputes involve the allocation of real estate amongst several beneficiaries. Mom and Dad, may they rest in peace, owned an upscale home in the Fab 40s neighborhood of East Sacramento, a sweet Tahoe vacation home, and a few rental duplexes, but did not specify how these assets were to be … Continue Reading
The COVID-19 pandemic has idled workers and the coming weeks will bring more news of business closures and bankruptcies. After a decade of sustained growth, we are facing a recession of uncertain depth and duration. The New York Times recently reported that some Americans are turning (or perhaps returning) to “financial therapy” for support. In … Continue Reading
It’s unremarkable that California courts require that notice be given to affected beneficiaries in trust and probate proceedings. After all, the Fourteenth Amendment guarantees that no person will be deprived of life, liberty, or property without due process. While contingent beneficiaries may not have received an inheritance yet, they may someday and so should know … Continue Reading
A primary purpose of estate planning is to determine what a child will inherit (if anything) upon a parent’s death. But what about a gift given during the parent’s life? Is it an advance on the child’s inheritance, like putting it on the child’s tab until the trust is cashed out? Or is the gift … Continue Reading
On November 20, 2019, California attorney Jeffrey T. Makoff presented to the Sacramento Estate Planning Council on the topic: “Welcome to the Post-Marriage World: How to Plan for a Generation That Says ‘I Don’t.’” Jeff started with evidence that marriage rates have declined sharply from the Silent Generation (those born from the mid-1920s to the … Continue Reading
When a man dies in California, who gets the proceeds of his life insurance policy? The answer seems obvious: the named beneficiaries in the paperwork received and accepted by the life insurance company. But what if the man gave the policy away during his lifetime? Can he cancel the gift and redirect the proceeds to … Continue Reading
Many California will and trust disputes arise from ambiguity in the document with respect to who is entitled to an asset. Maybe the document was hazy from the start or perhaps circumstances have changed such that the rightful recipient is no longer clear. Two cases decided in the California Court of Appeal last year illustrate … Continue Reading
Are six sibling co-trustees too many cooks in the kitchen? Many California trust disputes arise from disagreements among sibling co-trustees over how to administer Mom and Dad’s trust after the parents have passed. They all have a strong sense of what Mom and Dad wanted, but they don’t agree on what it was. Thus, trust … Continue Reading
When musician Prince Rogers Nelson died at the age of 57 on April 21, 2016, he had no estate plan in place, not even a will. We blogged that “You Don’t Have to Be Rich to Need an Estate Plan.” As the third anniversary of Prince’s death approaches, his probate estate continues to be administered … Continue Reading
I’m a sibling lawyer. My career started early, as a middle child, and now continues as a Sacramento-based trust and estate litigation attorney. Most of my clients are grappling with sisters or brothers over the care and finances of aging or deceased parents. In Family Feud parlance, my “survey says” that sibling versus sibling is … Continue Reading
Trustees in California trust disputes should not overlook the power of the constructive trust remedy as a way to recover errant trust assets. That’s a takeaway from Higgins v. Higgins (2017) 11 Cal.App.5th 648, an opinion in a trust litigation case published last week by the California Court of Appeal. A Los Angeles Superior Court trial … Continue Reading
On March 23, 2017, at the request of a certified question from the U.S. Ninth Circuit Court of Appeals, the California Supreme Court answered the age-old question – “what gives”? That is to say, what gives – the impenetrable wall of a spendthrift trust or the ability of a bankruptcy trustee to tap trust funds … Continue Reading
Acting as a trustee can be a thankless and time consuming job, especially when the reward at the end is nothing more than second-guessing from trust beneficiaries. In our Sacramento-based trust and estate practice, we represent trustees who have strained relationships with beneficiaries, whether their siblings, step-relatives, or otherwise. One useful tool to help trustees manage … Continue Reading
California’s new transfer on death deeds (“ToD deeds”) allow for the transfer of real estate upon the occurrence of death without the need for costly estate planning or probate administration. Codified at California Probate Code section 5600 – 5696, the new mechanism may fill a void in the array of estate planning options, but it … Continue Reading
Prince died in April 2016 without a will or trust, according to documents recently filed by his sister in the Carver County District Court in Minnesota. Perhaps a will or trust will surface eventually, as occurred with Michael Jackson’s estate. However, the revelation in “The Morning Papers” that Prince died intestate (legalese for no will … Continue Reading
At the Sacramento Estate Planning Council’s 2016 Technical Forum on Tuesday an elderly gentleman sitting next to me said “old accountants never die, they just lose their balance” and “old attorneys just lose their appeal(s).” Sometimes both happen when an unbalanced accounting results in a lost appeal. The California Court of Appeal issued a rare … Continue Reading
