You may know that certain wills and trusts have different benefits. However, as we at the Law Offices of Roshni T. Desai, are aware, different types of estate planning in California can also have limitations.
At the Law Offices of Roshni T. Desai, we understand that there are many ways to plan your estate, ranging from writing a last will and testament to setting up a trust. As you and other California residents may know, there are many types of trusts you can consider, which can benefit you and other family members in many ways. One type of trust, the special needs trust, is meant to protect the assets of someone with disabilities and allow him or her to stay eligible for Medicaid and other forms of government assistance.
As a Californian resident who is dealing with matters of trusts or trust administration for the first time, it's easy to get overwhelmed. Which option is right for you? What are the legal ins and outs of trusts? Today, we'll take a look at testamentary trusts.
Californians have a number of options available to them when they want to build a trust. One of these potential options is a revocable living trust, which has unique properties.
When California residents create their estate plan, they may sometimes find it difficult to determine if they should set up a trust or use a will. In some situations, people may be able to use both of these options by establishing a testamentary trust.
A trust is just one estate planning tool that can be highly beneficial when it comes to managing your assets after you’re gone. However, selecting the right trustee to manage your affairs is usually a daunting task, especially when you have a complex financial situation. AARP recommends the following tips when looking for a trustee to ensure your best interests are kept in mind throughout the process.
When California residents begin setting up their estate plans, they may decide to leave some of their money to charity. In this situation, some people may want to set up a charitable trust.
When many people consider trusts, they may think this estate planning tool is only for the wealthy. However, middle-class Californians may also benefit from setting up a trust for their loved ones.
Sooner or later, California parents begin thinking about how they will pay for their child's college education. Some people may want to consider setting up an educational trust.
When you decide to set up a trust in California, you may not always consider how this trust will be taxed. Taxes can be different depending on the kind of trust you establish, so it is important to understand how this difference affects your taxes.