In the last blog, we discussed the duties of a conservator of the person. As the conservator of the estate of an individual, you also have duties and responsibilities. Basically the conservator of an estate acts similar to a trustee. The conservatee’s “estate” is all the money and property owned…
If you have been nominated and approved by the court as the conservator of the person of another individual, you have certain duties and responsibilities. As the conservator of the person, it will be your responsibility to see to the personal needs of the conservatee. One of these needs is…
If you are the Successor Trustee of a trust, you have a job with a lot of responsibility. You need to give notice to the trust beneficiaries, inventory and appraise the the trust assets, possibly create sub-trusts, prepare an accounting, file taxes, and make distributions. Administering a trust can be…
Estate planning is important whether you are single, married, divorced or separated. For the sake of your minor children, there are a number of issues that warrant discussing with your ex. Here are some of the issues to consider when doing estate planning after a divorce: Guardianship. If you pass…
A fiduciary is an individual who acts in a position of trust such as acting as a guardian of estates,conservator of estates, personal representative of estates, or as an agent under powers of attorney. A fiduciary as a trustee of a trust has the responsibility of administering the trust as…
An article in the San Diego Union Tribune recently reported that the rate of elder abuse is growing at an alarming rate as people live longer, baby boomers reach retirement, and the economy is shaky. According to the District Attorney’s office in San Diego, 183 cases of elder abuse were…
Acting as a trustee is a very important job and choosing your trustee can be a difficult decision. In addition to this person handling your estate upon your death, you also have to think about the possibility that this individual may have to take over the management of your affairs…
At Scott C. Soady, A Professional Corporation, many of our cases are trust administration. When an individual has died with a trust, the successor trustee has to inventory all of the assets and value them before they are distributed to the named beneficiaries. Asset valuation can take some time to…
A revocable living trust is an important part of your estate plan when you have children. Children under the age of 18 cannot inherit large sums of money. If you have assets in your estate which would go to your minor children and you have no trust, the Probate Court…
Probate in California is the legal process whereby the Probate Court supervises the distribution of assets of someone who has died with a will OR a person who has died without a will or turst (i.e. intestate). The Court also determines the validity of creditor’s claims and sees that taxes…