Law Offices of Roshni T. Desai
Long-term Planning For Orange County

September 2017 Archives

What should a beneficiary expect from their role?

Beneficiaries in California may have a lot to learn about their role and responsibilities, depending on whether or not they've been in the position of a beneficiary before. This position does come with certain expectations, however. These expectations can only be determined through careful examination of the exact details of your role as beneficiary and what it means for you.

What are the different types of trusts?

While the purpose of each trust is designed to meet the specific needs of a person or family, there are characteristics common to all trusts. For example, each trust involves an interest in property that is held for the benefit of another. Notwithstanding certain elements common to all trusts, there are several different types of trusts. Trusts generally fall into one of two categories: revocable and irrevocable.

Responsibilities of an estate administrator

Estate administrators in California have many responsibilities on their shoulders. It's also up to them to accomplish a number of different role-specific tasks. These duties and responsibilities can last for years, and are integral to the estate management after a loved one has passed away.

What is a trust?

In order to understand the fundamentals of a trust in California, you may want to consider the following illustration. Suppose you own a valuable diamond ring. You do not owe payments on the ring and there are no liens against it. It is not collateral for any loan. You own the ring outright, as is said. Under the law, you have a simple, undivided property interest in the ring. Since this ring is your property, you have title to it: you can wear it, store it, sell it or otherwise use it or dispose of it in any manner.