If you don’t create an estate plan, you could be placing yourself at the mercy of the court. What is Guardianship and Conservatorship? California uses the word Conservatorship, and the rest of the USA uses the term Guardianship. This is the court procedure by which the rights of the individual (Ward or Conservatee) are transferredContinue reading “California Has a Plan for You”
Author Archives: lorenzprivatetrustees
Acting on Your Own Behalf
Think of Sovereignty as Individual Agency. From Wikipedia – Individual agency is when a person acts on his/her own behalf. Each of us is our own Decision Maker, and every contract, every choice, is an exercise of our personal power. If we don’t plan ahead, in writing, we can unknowingly give away every bit of our power. A goodContinue reading “Acting on Your Own Behalf”
So, Who is the Boss?
You have to plan ahead to stay the “Boss”. Your person (your Fiduciary), has many duties in regard to how they serve you. Professional Fiduciaries are typically held to a higher standard than a family member or friend because, in California, these professionals are licensed by the Department of Consumer Affairs, Professional Fiduciaries Bureau. ThereContinue reading “So, Who is the Boss?”
Who Will Be the Boss of You?
None of us know when we may become incapacitated, or die, but we do know that death is coming for us all, eventually. This is just one reason to plan ahead. There is another great reason to get your preferences clearly stated in writing; incapacity happens to many of us once we reach a certainContinue reading “Who Will Be the Boss of You?”
Can You Lose Your Assets
Yes, assets can be lost if they are not properly documented. There is a great opportunity to inventory what you own as you go through the estate planning process. Your attorney is your guide, and the architect, but you are the Trustor – the decision maker. It is so important to share, with your attorney,Continue reading “Can You Lose Your Assets”
Finding a New Trustee
If you are a beneficiary of a trust, you have likely experienced some challenges in communicating with your trustee. There are limits to what your Trustee can do, or say, however it is always reasonable to expect courtesy and prompt responses (even if the answer is “No”). What happens if you really wish you hadContinue reading “Finding a New Trustee”
Don’t Make Assumptions
How do you think your kids will get along once you are out of the picture? Ok, I hear you saying that your kids all like each other, and Thanksgivings are always fun. Keep in mind, that when “the time comes” things may be very different for your adult children. If you have one childContinue reading “Don’t Make Assumptions”
When Does Your Estate Plan Go To Work For You?
The three triggering events in the typical estate plan are: Incapacity – Your documents might say two physicians are to examine you, and if they determine that you have lost capacity to manage your own affairs, they will each write a letter saying so. Resignation – You sign a resignation letter, prepared by your attorney,Continue reading “When Does Your Estate Plan Go To Work For You?”
Keeping Your Plan Up to Date and Private
We are talking about your estate plan. The details of how personal property gets handled, how funds are disbursed, and how much you give to your beneficiaries, are completely up to you as Trustor (Creator, Settlor, Grantor) of your trust. You can change your mind several times throughout your life, as long as you haveContinue reading “Keeping Your Plan Up to Date and Private”
How to Keep the Right Attorney For You
If you are looking for an estate planning attorney, please read: How to Find the Right Estate Planning Attorney for You – for those who have the estate planning attorney they feel understands their needs, and provides great service, here are few tips to keep that relationship running smoothly. Periodic Updates – Keeping your estateContinue reading “How to Keep the Right Attorney For You”