How to Manage the A-B Trust? Re-Registration The A-B Trust – The trustee is appointed in accordance with the terms of the trust agreement upon the passing of the husband or wife. Since the husband and wife are typically the first trustees, the sole trusteeship usually passes to the survivor when the first trustee passes…
Dividing the Trust Estate Planning Attorney Joseph Hudack knows that the main concern is correctly dividing the trust into two sub-trusts after the first death. This split is done by determining the fair market value of all the trust’s assets as of the date of death. The trustee will then be able to choose which…
Administration of the A-B Trust Upon the first spouse’s passing, the living trust is divided into two components, Trust A and Trust B (A-B Trust). These two components are also known as the “bypass trust” and the “survivor’s trust.” The assets of the trust’s deceased grantor, which generally include both the decedent’s separate property and…
A Pet Trust Estate Planning Attorney Joseph Hudack knows that you can establish a pet trust in your will, as a component of a revocable living trust, or as a separate trust. It’s crucial to remember when choosing a trustee that they could not always be the same person who will be caring for the…
Donate Money to Charity Estate Planning Attorney Joseph Hudack says that if you might choose to make a donation to your preferred charity or charities. You should, however, also be certain that you can support yourself. How do you behave? You may want to include them in your will and/or revocable trust if you want…
AB 1410 The Davis-Stirling Common Interest Development Act, which governs homeowners associations in the state of California, is amended by Assembly Bill 1410. This legislation effectively forbids HOAs from forbidding homeowners or members from discussing problems they are having in the neighborhood on social media. The measure, however, extends the platform to all online resources,…
Estate Planning Attorney And Definition of Undue Influence Estate Planning Attorney Joseph Hudack knows that after the testator’s passing, a relative who believes there was undue influence on the will must challenge it in probate court. Laws differ from state to state, but generally speaking, in order to succeed in a lawsuit alleging that a…
Joint Tenancy You have options when it comes to how the property will be titled if you are recently married or have been married and are acquiring new assets. Also, even though shared tenancy appears to be a simple and practical choice, it could not function as effectively as you might expect. What is Joint…
Considerations When Selecting a Guardian for Your Children Without a doubt, having children alters everything, including estate planning, according to Corona estate planning lawyer Joseph Hudack. Your minor child or children will need to be placed with a new family if you and your spouse pass away or become legally incapacitated and no plans were…
Tips For Every New Homeowner Congratulations on the purchase of your new home. Corona Estate Planning Attorney Joseph Hudack says that whether this is your first home or an upgrade/downsize, purchasing a home is a significant event in your life. When these major life changes occur, you must be adequately prepared. Below are three tips…