2890 N. Main Street, Suite 206 • Walnut Creek, CA 94597

Avoid Probate of Your CCRC Refund

Continuing care retirement communities (CCRCs) often require new residents to pay an entry fee in exchange for lifetime housing and priority access to healthcare, in addition to a monthly fee. These entry fees can be in the hundreds of thousands of dollars. In many cases, a sizable portion of the entry fee may be refundable to the resident if they move…

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Probate Requires a Diligent Executor

Mary was ill-prepared for the drama that was probate. “I mean, seriously,” she told her friend, Amy. “Who would have thought Uncle Harry would leave his estate in such a mess?  I found deeds, contracts, promissory notes, life insurance policies, and wills, multiple wills, in his house, stuffed in the trunk of his car, in his shed, even in his…

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Trustee Compensation is a Complex Issue

When MaryAnne’s father died, she was quite surprised to learn that she had been named trustee of the family trust. After all, her brother, Daniel, was a banker, and her sister, Katy, was a lawyer. She was a wife and mother with an unused elementary education degree. “Why would Dad name me trustee?” MaryAnne asked. “I have no qualifications. Heck,…

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Loans to Adult Children Must be Addressed in Estate Planning

Loans to Adult Children Must be Addressed in Estate Planning

Mary and Thomas Charleton had five adult children.  Unfortunately, not all of them had the means to purchase their own homes. So after each child married, the Charletons offered them a low interest loan to cover the down payment, up to a certain dollar amount.  All of the children took advantage of the offer.

By the time Mary died—at age 62–three of the loans had been repaid in full. However, the couple’s daughter, Dory, made a partial repayment. When she got divorced after five years of marriage and was forced to sell that home, Dory decided she should no longer be required to repay the loan.  A son, Robert, figured the amount of the loan would just be taken out of his share of his parent’s estate.  He was fine with that.  He made no effort to repay the loan.

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2890 N. Main Street, Suite 206
Walnut Creek, CA 94597

925.943.2740

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