None of us want to think about our parents getting old and passing away, but it is an inevitable fact of life. For many senior citizens in California and elsewhere, the golden years can be full of uncertainty, sadness and loneliness. They may feel less useful than before and that their younger family members are leaving them behind as they live busy lives. Fortunately, you can show your parents that they are just as important to your family as they always were.
When children have special needs, California parents usually devote many resources to their care. Sometimes children may need care for the rest of their lives. In this situation, parents may want to set up a trust.
If you are a trustee, you may have a lot of questions about your role. As a trustee, you are the legal owner of the assets in the trust. Your core responsibility is to handle all manners involving the assets, including distributing them to beneficiaries.
It can be difficult to accept the fact that cognitive ability declines for some senior citizens, especially those who suffer from dementia or Alzheimer’s disease. At the early stages of these conditions, many seniors are still living independently and have full control of their finances. Our team at the Law Offices of Roshni T. Desai has seen the heartbreaking results of older and vulnerable Californians who have been taken advantage of by unscrupulous people. If your parent is beginning to show the symptoms of a cognitive disorder, you may worry how to protect him or her from being targeted in this manner.
When you establish your estate plan in California, you may think that a will is sufficient. There are some times, though, when it might be beneficial to set up a trust.
As the executor of someone’s California probate estate, you must perform many duties. Depending on the estate’s size, extent and complexity, you may well find that administering it takes substantial time and effort on your part.