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 MoreWhat is Estate Planning?
What is Estate Planning? We write a lot here on the blog about “Estate Planning” but I realized that some people out there may not know what Estate Planning is, means or includes. Read on for a simple explanation of what Estate Planning is and what it can do for you. An estate consists of anything you own that has value such as your car, house, life insurance policy, checking and savings accounts, investments, jewelry, etc. I have done estate planning in San Diego for 25 years and one thing has never changed – no matter how big or small your estate may be you need an...
Read MoreWhat Happens If I Die Without a Will? Anna Nicole Smith
What happens if I die without a will? Look to these celebrities for what NOT to do. A lot of what happens you die without a Will, and really, without a proper and complete Estate Plan, depends on your assets. In any case, your estate will be left in Probate, a long legal process that sorts out where assets go, how much is owed in taxes, etc. If you have minor children, the will not likely end up where you had hoped they would and will get much less of your assets than they could with a proper Estate Plan. Call our office to set up an appointment with Estate Planning attorney Gary Quackenbush...
Read MoreChristmas in July: Federal Gift Tax
The Federal Gift Tax and You What is the gift tax? Do I owe a gift tax? Do I need to report all gifts to the IRS? There are certain amounts and ways to give gifts tax free to your descendants and friends both during your life and through a properly arranged Estate Plan. What’s important is to learn the rules, set up a clear Estate Plan with Gary (858-549-8600) and make sure your loved ones and finances are all squared away. What is the federal gift tax? The gift tax is a federal tax that applies to all the gifts you make in a lifetime. Lucky for most, unless you live in Connecticut or...
Read MoreWhy do I need a Will?
California Estate Planning Lawyer Gary Quackenbush explains why everyone needs a California Will as part of a complete Estate Plan. You need a will because you are an individual with possessions, and possibly heirs, that are important to you. You need a will because you want to protect them and their best...
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