Living trusts save beneficiaries thousands of dollars in probate fees, however, upon the death of the Trustor, there are still steps that need to be taken by the Successor Trustee. These steps are called trust administration and often require some assistance from an experienced attorney. If these actions are not…
You would think that people who have practiced law would know the benefits of a well drafted estate plan. I guess it is like the old adage that “the cobbler’s son has no shoes.” Who knows how many lawyers in this country do not have a will or a trust.…
If you create a will or a trust, you can make any kind of gift you want to whomever you want. You can also make stipulations that a certain event must occur for the beneficiary to receive the inheritance. Some people, for example, provide for distributions to children or grandchildren…
Most people don’t like to think about their death but it is inevitable and directions to your loved ones about your wishes can ease the burden on them, and give you peace of mind knowing that your wishes have been stated and will be carried out. As part of your…
Many of us in the San Diego area start the New Year by resolving to lose weight, quit smoking, or spend more time with family. The top New Years’s Resolutions are: • Stop smoking or drinking • Increase physical fitness • Lose weight • Reduce stress at home or on…
Earlier this month we posted a blog about identity theft during the hollidays. Malls in North County, South Bay, Carlsbad, and Mission Valley are targets for pick pockets and thieves who look to steal purses. But did you know that even deceased persons can be victims of identity theft? The…
We, at Law Office of Scott C. Soady, A Professional Corporation extend to all of you, our clients, friends, and visitors to our web site, our best wishes for a wonderful and joyous holiday season and a happy and prosperous New Year. Thank you to all our past and present…
Whether yours is a small business or a larger closely held corporation, have you thought about what will happen to it when you have passed away? Many people work years to build up a successful business or practice. Sometimes the family business is the most valuable asset in an estate.…
Many people in San Diego make revocable living trusts the primary feature of their estate plan. You may wonder where the idea of a trust came from. Trusts haven’t just been popular in the last century. Trusts are quite old. Plato back in 400 B.C. used a trust to finance…
Several years ago researchers felt that by mid century there would be a big inheritance boom, somewhere between 41 trillion and 136 trillion dollars handed down from parents to children. Now things are different and not solely because of the economy. Here are some reasons why you may receive a…