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August 2018 Archives

Older adult children may struggle to care for ailing parents

As you age, you may feel more and more appreciative of the fact that your parents are still around. Many people lose their parents at young ages and others are fortunate enough to live a considerable portion of their lives with at least one parent in the picture. While you understand that your parents will not live forever, you may wish that they could.

What constitutes undue influence?

If you fear that your elderly, ill or disabled parent in California is developing too much reliance on his/her caregiver, you may wish to take preventative measures to ensure that (s)he does not change his/her will while under this person’s undue influence. As explained by a state bar association at its recent meeting, undue influence occurs when one individual assumes a power position over another individual and misuses that power to overcome the victim’s free will and substitute his/her own will.

What is a spendthrift trust?

If you and your spouse are like most California parents, you make every effort to raise your children to become responsible adults, financially and otherwise. Unfortunately, these lessons do not always take with some kids, particularly when it comes to handling money responsibly. Today’s “I want it now and I don’t want to wait” culture provides your children with an influence every bit as large as your own more conservative and wise approaches to spending.

What constitutes a breach of fiduciary duty?

When you become the trustee of someone’s trust or the executor of his or her California estate, you also become a fiduciary. What this means is that the grantor of the trust or the testator of the will trusted you enough to put you in a position of authority to carry out his or her wishes. In other words, you have a duty to the heirs or beneficiaries to do the best you can to manage and distribute the assets per the provisions of the trust or will.

Revocable vs. irrevocable: Which type of trust is better?

As you go about establishing your California estate plan, you likely will come face to face with the issue of trusts sooner rather than later. As reported in U.S. News, all trusts are stand-alone legal entities, meaning that they and the assets you put into them are separate and apart from you personally. Trusts come in two basic types: revocable and irrevocable.

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