Category Archives: Trusts

Discussion of Revocable Living Trusts (inter vivos trusts), Irrevocable Trusts, ILIT Life Insurance Trusts, Special Needs Trusts, and Trust Administration.

What is a Trust Proceeding?


A “trust proceeding” means an action or proceeding in court concerning a trust. In California, most trusts do not need court supervision and never come before a judge unless there is a problem. Many trusts never wind up in front … Continue reading

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Whose Social Security Number or EIN Do I Use for a Trust?


Taxpayer I.D. Numbers for Estates and Trusts. Whose Tax I.D. Number Do I Use for a Trust? There are two types of taxpayer identification numbers a Trust might need to use, depending upon what kind of trust it is — … Continue reading

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How Long Does a Trust Last?


A Trust can last almost as long as its creator wants it to last,  but there are some limitations and those vary from state to state. In most states, a Trust cannot last longer than about 21 years after everyone … Continue reading

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Why do I need a Power of Attorney if I have a Trust?


Even if you have a Trust, you still need a Power of Attorney  because it applies, during your lifetime, to management and control of your property that is not in a Trust. Certain property does not get put into your … Continue reading

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What is the difference between a Will and a Trust?


There are many differences between a Will and a Trust,  but the most basic differences are: (1) A Will only takes effect when you die, but a Trust can be operative during your lifetime and/or after your death. (2) Property … Continue reading

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What is a Revocable Living Trust?


A Living Trust,   also called an “inter vivos trust” or a “revocable living trust,” appoints someone (the “trustee”) to hold title to and manage your assets during your lifetime and after your death. You can be the trustee of … Continue reading

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What is the difference between an Executor and a Trustee?


The “Executor” and the “Trustee” are similar in some ways, but very different in others.  An “Executor” only acts if someone has died. The Executor can be nominated by the deceased person, but that selection must be approved by the … Continue reading

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Why Do I Need a Will If I Have a Trust?


Having a Will even if you have a Trust is like having a safety net.  It is very common for people to accidentally leave something out of their Trust. A good example is the home. People buy a new home, … Continue reading

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What is an Irrevocable Trust?


     An Irrevocable Trust is a trust that cannot be changed except in very limited circumstances.  Many trusts remain subject to modification by the person or persons who created it. “Revocable trust,” “living trust,” and “inter vivos trust” are all … Continue reading

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Top 4 “MUST HAVE” Estate Planning Documents


Estate Planning Everyone Should Have      Estate Planning is about Life.  It’s about security for those you love. It’s protection for yourself, if you become incapacitated. It’s a tool for creating a legacy or preserving a heritage. It’s a means … Continue reading

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