Modest estates that use a small estate affidavit can save a family and beneficiaries time and money by avoiding the probate process of transferring title of small assets, particularly assets such as bank accounts and other personal property less than $50,000. However, beneficiaries need to be careful about using small estate affidavits, as they have [...]
I have seen this question a lot. A loved one creates a Durable Power of Attorney in the case of incapacity so a family member can handle the financial affairs of the incapacitated principal. The agent to act may come into my office saying the loved one did not prepare a living trust or even [...]
So you’re thinking about renting out the spare bedroom in your house. After all, you have an extra room and could use the rental income the room can generate, and you could have a roommate to keep you company. While it could be the greatest thing you do and you could perhaps find a new [...]
Can I modify the terms of a living trust? I run across this question a lot in my office and online from spouses and children of families who have created living trusts to protect their families and assets. The short answer is this: It depends. Let’s look at some ways a living trust can be [...]
A relatively recent trend in the California rental scene is the rise of more and more tenants complaining about mold issues in rental units. Here is a typical scenario: A relatively minor mold problem appears in a unit; tenant tells no one about the issue, let’s the problem grow, and then comes back to the [...]
Are you a rental owner? If you ever end up in the unfortunate position of having to evict someone, you will see that time is literally money. During the eviction process, you will be unable to rent your property to a great tenant who would pay the rent on time. I want to share a [...]
I have seen this question very often lately: When do I need to present my creditor’s claim to the personal representative in a probate administration? The answer, like all things law-related, is that it depends! For estates going through probate, creditors generally must submit their claims within either 120 days after the date the first [...]
Many times people put off making an estate plan because they get busy. After all, we all have plenty of things to do—go to work, pick up the kids from school, take care of household chores, and on and on. Well, I’d like to give you a friendly nudge, especially if you have minor children. [...]
So you went to an estate planning attorney, got your living trust together, and executed all the papers. But the one thing you forgot to do is title your properties properly, indicating you are holding them as the trustee of your trust. Failure to properly title your properties can cause title problems down the road, [...]
As part of our “Eight Things You Are Doing That Are Killing Off Your Rental Property Revenues” series, I want to warn you about a problem I come across often. Landlords are using outdated rental agreements or ones they get free online, as they don’t want to spend money on a rental agreement. After all, [...]
