The process of estate planning involves exploring your options. You do not want to make any assumptions without knowledge of all the facts, and people often do harbor misconceptions about trusts. One of the misconceptions is the idea that you cannot handle assets that you convey into any type of trust. This is not the case when it comes to a revocable living trust. When you create and fund this type of trust, you can act as the trustee while you are alive. If you create a joint living trust … [Read more...] about Who Administers My Living Trust When I Die?
What Is Digital Estate Planning?
A well constructed estate plan will leave behind a turnkey situation for the surviving family members. If you want to be comprehensively prepared, you need to consider every detail. With this in mind, we will look at digital estate planning in this blog post. More Than Documents Creating documents is part of the process when you plan your estate. At the same time, someone has to examine the wishes that you leave behind in the documents and bring them to fruition after your passing. You have to … [Read more...] about What Is Digital Estate Planning?
Should I Use a Corporate Trustee?
When you are planning your estate, you may want to consider the utilization of a revocable living trust as a vehicle of asset transfer. If you have a revocable living trust in place, you can continue to control the assets while you are alive and well. At first, you can act as the trustee. The trustee is the person who administers the trust. As the trustee you would control the actions of the trust throughout your life. The beneficiary of the trust receives monetary distributions from it. You … [Read more...] about Should I Use a Corporate Trustee?
What Is a Letter of Final Instruction?
Estate planning is going to involve the execution of legally binding documents. In some of these documents you are communicating your wishes regarding the transfer of your assets. Communication is the operative word here. When you plan your estate, you want to communicate information to relevant parties. With this in mind, we will look at the letter of final instruction in this post. Estate Administration If you use a last will to state your final wishes, you are going to name an executor to … [Read more...] about What Is a Letter of Final Instruction?
What Does an Executor in San Jose CA Do?
Postmortem planning is part of the equation when you are planning your estate. Leaving behind written instructions is part of the process. However, who is going to follow these instructions? This individual would be the executor if you use a last will to state your final wishes. Duties of Executor in San Jose CA What does the executor actually do? There are numerous different duties that are going to fall into the hands of the executor. The extent of the work will depend on the exact nature of … [Read more...] about What Does an Executor in San Jose CA Do?
