Trust Administration Documents

Recently a long time client came to me about a problem with a trust that they administered 10 years ago. It seems one of the beneficiaries is now looking for more money. The problem is the trust was closed out 10 years ago but the court is asking for the closing documents so it can dismiss the case. The documents have been hard to find and some are just missing. The lesson here is to be sure you keep all documents if you ever are called on to be a trustee or work on the administration of an estate. How long? Well, here 10 years was not long enough. Sure, this court should have dismissed the case but it did not. You just never know.

I'm excited to announce that I am working on an association with a Lawyer who is moving into the No. Calif. area. He has a successful practice in the So. Calif. area and will bring his organization to my practice. We will be able to better serve my clients and network and offer much more in the way of legal services. I'll get more information out as this gets rolling.

Procrastination

Yes, I know. This is not an up lifting topic but it can be very important to your family. I hear all the time "we've wanted to do estate planning for years but never get around to it". Unfortunately, many people "get around to it" when a crisis occurs. Then it may be too late. It has been said "the road to hell is paved with good intentions" well, as far as the financial institutions, title companies, banks, courts and yes the IRS are concerned, Intentions mean nothing. Yes, I've learned the hard way what happens when estate planning is not done or not done right. I've had to pick up the pieces and it was expensive for the family. Remember "estate planning is not expensive, it's priceless". Just ask your family.

New

Well, Here is my first venture into Blogging. I must say I am a bit behind the times with this. I am a Lawyer in Northern California. I do estate and wealth transfer planning. I believe in "client based estate planning" I help clients make those hard decisions about their estates and family. We Then create the proper documents to accomplish the clients goals. Done properly, estate planning can be a great benefit to a family but done incorrectly(cheaply) can be a disaster waiting to happen.
Who needs to do estate planning? That's simple. Everyone. It may only be changing some accounts or just a simple will. If you own real estate or your assets are over $100,000 (total) you need to do a trust based estate plan. Yes, it's that simple.
Well, I will update this and always welcome questions.