Darling & Wilson, PC Legal Blog
3 common mistakes executors make during estate administration
Most people do not choose professional estate executors. They choose spouses, adult children, other relatives or trusted friends who suddenly find themselves responsible for managing an estate and fulfilling duties they may know little about. The role often involves...
Can trustees sell major assets without informing beneficiaries?
Beneficiaries of a trust may sometimes enjoy access to and use of trust property. Other times, they may receive funds distributed by the trustee after the sale of trust resources. A trustee generally has a fiduciary duty to act in the best interests of trust...
Why should you address property carefully in an estate plan?
One of the most important goals of estate planning is making sure that your loved ones can effectively manage your assets when you die. This includes everything you own, such as homes, vehicles, land, bank accounts, family heirlooms and business interests. Crafting a...
Why do people postpone estate planning?
You might think that most of the adults you know already have their estate plan in place, and you are one of the few who do not. You would, however, be wrong. A recent report found that over half of adults have no estate planning documents at all - 56% of them, to be...
Examples of real estate title defects
Title defects are issues with the property’s title that can complicate the process of transferring it from one individual to another. Sometimes a title defect just causes a delay. In other cases, it means the transfer cannot happen at all. There are many different...
The next-of-kin law doesn’t replace a chosen health care agent
For some people, creating an advance health care directive is even more emotionally challenging than putting their will in place. No one likes to think about what kind of life-prolonging measures they want ended or continued if they’re in a coma with no expectation of...
3 issues your California advance directive can address
Advance directives are among the most valuable estate planning documents available. Unfortunately, many people assume they need to face immediate medical challenges to warrant drafting advance directives. While both medical and legal professionals often encourage...
What is the role of a successor trustee?
A revocable living trust is a flexible estate planning tool. It allows the trust creator to act as the initial trustee. They have the authority to modify the trust by changing beneficiary designations, funding it with additional assets or making other adjustments...
Why estate planning isn’t just for the wealthy
When people first hear the term “estate planning,” they may imagine it as something reserved for the wealthy trying to figure out sprawling family estates. In reality, it’s a practical step that can benefit almost anyone who wants to protect their loved ones and their...
What is a residuary estate?
An estate consists of all of the property owned by an individual who has died. After a person's passing, control of their property transfers to their estate. It is then under the management of the personal representative appointed by the probate courts or named in...