A living trust is an important estate planning document that allows your estate to avoid probate. Of course, it is of no use if you fail to transfer your assets into the trust. In this case, when you die, nothing is owned in the name of the trust, so there is nothing to administer according to it...

In the area of legal terminology, there are several words that seem similar but actually have distinct legal meanings. In the context of probate and trust administration, two of these words are “beneficiary” and “heir.” They might sometimes be used interchangeably in common usage. However, in the...

If you're thinking about starting a lawsuit, or someone has started a lawsuit against you, you need to be aware of the statute of limitations that applies to the claim. For many types of claims, there will be a corresponding time limit for filing that claim in the California Civil Code. If the ti...

If you've been named as trustee for the trust of someone who has died (the decedent), one of your first duties is to notify the relevant parties. The purpose of the notice is to bring the beneficiaries and heirs up to speed, give them a chance to review the terms of the trust, and provide a perio...

If someone dies without a will, or they have a will but the value of their assets is over a certain amount (currently $150,000), the estate has to be administered through the court. This process is called “probate,” and it is a way to wrap up someone's affairs after death. It involves gathering t...

As trustee of a trust, you will often have to deal with third parties, such as banks or title companies. As the creator of the trust, this occurs when you need to transfer and re-title your assets. As a successor trustee, this happens when you need to gain access to trust assets. The third party ...

Wage and hour disputes can be costly for employers. This is why it's so important to make sure that your business complies with all relevant labor laws. One example where this is especially true is vacation days earned by employees and how they are handled. California law In California, vacation ...

Developing an estate plan to direct the disposition of your assets after your death is a wise decision. But you should also plan for the potential of becoming incapacitated. If you become unable to attend to your financial affairs, because of a physical or mental disability, you will need someone...

Attorneys' fees can be expensive, especially if litigation is involved. Not everyone has the cash on hand to pay an attorney up front, but they still have the desire to seek legal redress. This is where the contingency fee comes in, which allows a client to obtain representation for a case that s...

Asset protection refers to the process of utilizing legal techniques and taking advantage of existing laws to shield your assets from outside attack. It involves separating business and personal assets, so they do not become a liability to each other. (Proper asset protection planning does not co...

If you've decided to form a corporation for your business, it has to start somewhere. The first step in forming a corporation is to file your company's Articles of Incorporation with the Secretary of State. The person who completes the filing and signs the Articles is called the “incorporator.” (...

Forming a corporation for your business can offer many advantages, including a more professional image, fringe and tax benefits, and asset protection. However, it involves more than just filing some paperwork. All proper steps must be taken to form the corporation. If you fail to do so, you run t...

A trial is the most well-known culmination of a civil dispute: Two bitter rivals duking it out in court, calling witnesses, arguing before a jury, shouting “Objection!” and so forth. Trials are not only less exciting than depicted on TV, but they are also less common (at least as a percentage of ...

In light of the recent tragic death of Prince, it's helpful to look at the ramifications of an unfortunately common occurrence: Someone dying without a will or trust in place. The pop superstar left an estate valued at $300 million, but he did not have a trust, and no will has been found. If it's...

When a person or entity grants or takes out a loan, the debt will generally be either secured or unsecured. A secured debt is one where the borrower pledges some kind of property as collateral for the loan. For a personal loan, it could be something like a car or a house. For a business loan, it ...

Depending on the type of estate planning a person did prior to death, the estate might have to go through probate. Probate refers to the court supervised process of wrapping up the affairs of the decedent. The person in charge of this process is the personal representative (or executor or adminis...

If you are a shareholder of a corporation with its principal executive office in California, you have the right to inspect certain records of that corporation. California Corporations Code Section 1601 grants this right to shareholders. This includes access to the following: Accounting books ...

10 things to consider when thinking about estate planning A lot of people tend to postpone estate planning as long as they can, or they never get to it at all. However, even though it's unpleasant to think of one's mortality, it's always wise to plan ahead for the unexpected. If you have no esta...

Putting your house into your living trust A house is often the main asset people own, and one that can cause a lot of problems after death. Once you have executed your living trust, it is important to have the ownership of your home properly transferred. If you fail to do this prior to your deat...

10 ways to prevent inheritance disputes There's nothing quite like an inheritance dispute (or estate administration dispute). When someone dies, friends, co-workers, long lost cousins, etc., seem to come out of the woodwork to try to get their share of the estate. One of the most famous involved ...

Does a “dog bite” have to break the skin? California's dog bite statute (CA Civil Code Section 3342) imposes strict liability on a dog's owner for damages caused when the dog bites someone. Unlike some other states' “one bite rule,” liability attaches regardless of whether the dog has bitten bef...

What Goes into a Prenuptial Agreement? Sometimes in life, things don't work out the way we expect them to. As hard as we try to make it work, sometimes a marriage falls apart. In addition to the emotional trauma this process can cause, it can also be devastating financially. The results can seem...

  If you're thinking about estate planning, you're making a wise decision. You'll be able to provide for your family, as well as remove much of the stress and headache that would otherwise be involved in taking care of your affairs after you're gone. But now the question is, “What type of estate ...