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probate Archives

DMC and DeLorean creator's estate at odds over iconic car

The administration of an estate is rarely a singular event; rather, it is a process that can go on for months, years or (in certain cases) even decades. When issues such as copyrighted material, trademarks and intellectual property are introduced into the estate administration process, they often are indicators of years of continued responsibilities for an estate's personal representative. These properties will typically continue to generate income, thus consistently adding value to the estate. The question then becomes which of the estate's beneficiaries becomes entitled to those profits. 

Reasons to remove a personal representative

To be asked to be the personal representative of an estate in Los Angeles is an awesome responsibility. Those who assume it agree to represent the best interests of not only the testator, but also his or her beneficiaries. The job might seem as first glance to be quite complex, yet there are several resources to help personal representatives clearly understand their duties. 

Man disinherited after being convicted of wife's murder

When people in Los Angeles are murdered or die unexpectedly and their spouses, family members or loved ones are suspects, a common motive that law enforcement officials may look into is if one "did it for the money." The idea of killing someone to inherit their assets is certainly not new, although most would immediate assume that one who actually committed a crime for this reason would immediately be disinherited. Yet is that true? 

Benefits of wills versus trusts

Many people in California may have been told by someone that they should always have a trust instead of a will as their primary estate planning document. The people that may have told them this no doubt are well-meaning and have their best interests at heart but they may not necessarily be right. While trusts can and do have many unique qualities that can be benefits for some people, there are definitely situations in which a will may be the better bet.

The challenges of elder financial abuse

California residents who need to provide care and assistance for their aging relatives unfortunately also have to be concerned about the potential for abuse or neglect. This sadly happens at the hands of those tasked with caring for elderly people all too often. It is important for people to be aware of the many forms that elder abuse can take. While it can certainly be physical or sexual in nature, it can also take place without any physical harm or contact in the form of financial abuse.

The pros and cons of probate

Any sort of discussion revolving around one's will can quickly become challenging. For those with family members without wills, that discussion can be all the more difficult. Californians who have found themselves in the middle of these plans may have endless questions. The below information highlights the importance of having a will in the first place, as well as the pros and cons of probate altogether.

Uncovering probate: What you should know

If you have been named the executor of a recently deceased loved one’s estate, you might have several questions regarding the probate process in California and what it entails. Although probate may have a stigma of being overwhelming, the process may vary in degrees of difficulty depending on the circumstances surrounding the case. Once you received the deceased’s will and trust documents, you may be required to enter into court before you are able to distribute the heir’s property to the people he or she intended to have it.

How will the Tax Cuts and Jobs Act affect your estate plans?

The Trump Administration has made many changes since taking over the Oval Office. One of those major changes has been the introduction of the Tax Cuts and Jobs Act. According to CNBC, this tax reform may affect your estate plans and you should adjust them accordingly to avoid any issues. 

Will you have to pay estate tax?

Many in Los Angeles may subscribe to the idea that there are only two inevitabilities in life: death and taxes. Yet few may view those as being associated in any way. However, when you die, your estate could indeed be subject to a federal estate tax. This may come as extremely disheartening news given the effort you put into building your estate for the express purpose of it benefitting your heirs when you die. However, you may not need to worry; with the proper planning, you may be able to avoid the estate tax altogether. 

The tricky details to inheritance disputes

In a time that is likely already laden with mixed emotions, an inheritance dispute can only add to the stress. Despite these sensitive times, siblings in California and across the nation find themselves knee-deep in a battle over the will of a deceased loved one. Are there ways to go about this process in a healthy manner, or even avoid the dispute altogether? 

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