Ten Essential Tasks for Every Trustee
Ten Essential Tasks for Every Trustee So you’re the trustee, now what? Here are the ten things every trustee is responsible to do.What is a Trustee? Merriam-Webster’s dictionary defines a trustee as “one to whom something is entrusted.” In a legal sense, we’d define a trustee as a person or organization that has been given responsibility for managing someone else’s property or money through a trust. What does a trustee need to do? 1 – Invest and manage the assets. Trustees have an obligation to invest trust assets with minimal risk of loss. If an...
Read MoreChoosing a Guardian for Your Minor Children- 7 Things to Consider
Seven Things to Consider When Choosing a Guardian for Your Minor Children Who would take care of my kids if something happened to me? Would they be okay? We’ve all had these thoughts and although its not something we like to think about it is something we should think about. It is something we should not only think about but do something about now, while we can. Choosing a guardian is not something to take lightly. It is something to think about and plan while we are alive and well and can make good decisions. With the right plan we can make sure our kids are well taken care of no...
Read MoreCan You Get a Loan on Your Inheritance?
Can You Get a Loan on Your Inheritance? Here is a new idea for people inheriting property: You can, in fact, take out a loan on your inheritance! Why would you want to borrow money against your inheritance? Let me explain. It is pretty common for children to inherit a house or houses as part of a parents’ Estate Plan. Sometimes, however, more than one kid (beneficiary) wants to have the house but there is not enough money in the Trust (or Estate) to give the house to one and an equivalent amount of cash to others. So what do you do? How can you make an equal distribution to all the...
Read More8 Documents You Need in Your Estate Plan
8 Documents You Need in Your Estate Plan What you need in your Estate Plan from California Estate Planning Attorney, Gary Quackenbush of GQ Law. What exactly is a “complete Estate Plan”? You’ve probably been told to get a Will or a set up an Estate Plan at one point or another in you adult life but what exactly does that mean? Here is our quick list of the 8 most important documents to have in your Estate Plan. 1 – Living Trust The first thing you need in your estate plan is a Trust. Every good Estate Plan needs a Trust at its core. The Trust is what gives the...
Read MoreWhat Is a Conservatorship?
What Is a Conservatorship? On air discussion on 4/5/16 on www.KPRZ.com with Marty Schneider – The Retirement Professor Q: How can my wife take care of things if I became disabled? Aren’t there some things I need to agree to or to sign no matter what? A: Most property owned by married couples in California is in joint title. Most loans are joint loans with both husband and wife on the loan. Most property is considered community property. Joint title is great, BUT if one of you becomes disabled (legally unable to make decisions), it is almost impossible for the other to do...
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