Those of us who live here in San Diego know what a great place San Diego is to live and work. Besides the wonderful weather and the proximity to the beautiful beaches of La Jolla, Del Mar, and other coastal areas, there is another benefit you might not realize. California…
Are you following in the footsteps of past Americans utilizing trusts? If you have a revocable living trust, you are in good company. Many famous people from the past utilized trusts as part of their estate plan. When the 13 colonies declared independence in 1776, the richest man was a…
Many people in San Diego are in the position of choosing a successor trustee for their living trust or they may be beneficiaries of a trust and wonder if the trustee is managing or distributing their inheritances properly. Generally the trustee must administer the trust according to the terms of…
There are some interesting statistics about women in this country. We all know that women live longer than women and many outlive their husbands. But did you know that 75% of women will become widows at some point in their life? Unbelievably, the average age of a woman when she…
If you have a family member suffering with a form of dementia or Alzheimer’s disease, you probably worry about them wandering away. The Alzheimer’s Association estimates that 60% of dementia patients will wander at some point in their life. A new law is being proposed in California to institute an…
Last year we posted a blog about cats living it up in a retirement home in Spring Valley thanks to a pet trust. Wherever you are in San Diego County, do you consider your pets part of the family? You are not alone if you do. 87% of Americans consider…
As the population of people over 65 increases, so does the incidence of elder abuse and neglect. Elder abuse can be physical, emotional, or financial. The San Diego Police Dept. reports that San Diego has over 300,000 seniors. One out of every 20 elders will be a victim of elder…
When people give particular assets to someone upon their death, what happens when that asset is no longer in the estate at the time of death? “Ademption” is the term used in the area of wills and trusts to describe a situation where property left to a beneficiary is no…
Last week the Wall Street Journal reported that President Obama wants to freeze the current estate tax level to $3.5 million which is the estate tax exemption amount for 2009. Currently only estates with more than $3.5 million ($7 million for couples) have to pay estate tax. Obama intends to…
People with little assets other than their home many times need a living trust more than individuals with more assets. Why? Picture this scenario: With the high cost of housing in the San Diego area, many couples both work to pay the mortgage on their home. They don’t have a…