In the realm of estate planning, a will without a trust stands as an important document, orchestrating the distribution of assets and the fulfillment of wishes after one’s passing. In California, the statutory will serve as a convenient template for many individuals seeking to outline their testamentary intentions. While there are times when a statutory will may be sufficient –…
If you’re someone who is serving in the role of trustee, executor, conservator, or guardian, acting as a personal representative for someone’s estate in California, did you know that the state has specific guidelines for probate accounting? According to section 16062, the California probate code requires representatives to provide an accounting at least once a year. The purpose is usually…
For this four-part series, we are discussing very common scenarios that we see in our trust administrations where real estate is involved. Real estate, particularly the family home, often has emotional and sentimental components that throw a wrench in trust administrations. Beneficiaries often have different ideas of what to do with the family home. We will continue using the same…
History Heggstad petitions are named after the California court case, Estate of Heggstad. Mr. Heggstad created a living trust and identified the assets he wanted in the trust by filling out a schedule of assets attached to his trust. Unfortunately, Mr. Heggstad died before he could retitle those assets into the name of his trust. Wanting to avoid a full probate…