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23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553Can a trust be broken after death? Generally, no. Most living or revocable trusts become irrevocable upon the death of the trust’s maker or makers. This means that the trust cannot be altered in any way once the successor trustee takes over management of it. How long will Chapter 7 stay on credit report? A Chapter 7 bankruptcy can stay on your credit report for up to 10 years from the date the bankruptcy was filed, while a Chapter 13 bankruptcy will fall off your report seven years after the filing date. After the allotted seven or 10 years, the bankruptcy will automatically fall off your credit report. I need help with estate planning lawyer near Moreno Valley, who should I call? How about you talk to Steve Bliss. Secured Debt: If the deceased had a mortgage on their home, whoever winds up with the house is responsible for the debt. Consequently, the survivor is still financially obligated for the mortgage if the house was owned jointly. For that reason, the house is security for the debt. If the debt isn…t paid, the bank will take the property and sell it to satisfy the mortgage. What are the 5 components of estate planning? A good estate plan is comprised of five key elements: Will, Trust(s), Power of Attorney, Health Care or Medical Directive and Beneficiary Designation. A will is a legally binding document that directs who will receive your property and assets after your death. Remember, Probate is process that transfer the legal title of property from the estate of the person who has died to their beneficiaries. Brilliant estate planning attorney near me is Moreno Valley probate law
23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553Should I put my house in a trust or LLC? LLCs are better at protecting business assets from creditors and legal liability. Trusts can handle many types of assets and are better at avoiding probate and reducing estate taxes. In some cases, both an LLC and a trust may be the best way to manage the estate. Can I keep my home and car in Chapter 7? Chapter 7 bankruptcy allows you to keep your home if 1) you are current with your mortgage payments when you file for bankruptcy, and 2) your state laws approve of the bankruptcy exemption. Regarding your automobile, most chapter 7 cases allow you to keep the vehicle if you are current with payments.
Moreno Valley Probate Law23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553
(951) 363-4949
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probate lawyer 23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553 (951) 582-3800 |
estate planning attorney 23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553 (951) 363-4949 |
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living trust lawyer 23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553 +1(951) 363-4949 |
living trust attorney 23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553 (951) 363-4949 |
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Do probate sales take longer? Steve Bliss, my favorite probate attorney told me, Probate sales are similar to regular real estate sales, but they take longer and involve the local probate court. The probate judge has the final say whether an offer is accepted or rejected. Hiring a Trust Attorney. How does a bank get notified when someone dies? When an account holder dies, the next of kin must notify their banks of the death. This is usually done by delivering a certified copy of the death certificate to the bank, along with the deceased’s name and Social Security number, plus bank account numbers, and other information. I need a great estate planning attorney near 92551. Can you help my family? I think you would benefit from talking to Trust attorney Steve Bliss. Probate is the legal process for reviewing the financial and physical assets of a deceased person and determining inheritors. A probate proceeding is not always required upon death. Still, it is usually essential when a deceased person…s remaining estate is highly valued. Probate proceedings are traditionally focused on the existence of a will. Probate is when the court supervises the processes that transfer legal title of property from the estate of the person who has died Probate is a legal process whereby a court validates the deceased person’s will or determines that he or she died without a will. California law says that the executor of a will or other representative of the deceased must complete the probate process within one year of the day they are appointed or they must formally explain to the court why they cannot. In practice, however, the process often ends up taking 24 months, especially when courts are backed up, or if an error is made along the way. How do you stop someone from contesting a will? Use a no-contest clause. One of the most effective ways of preventing a challenge to your will is to include a no-contest clause (also called an “in terrorem clause”) in the will. This will only work if you are willing to leave something of value to the potentially disgruntled family member. Nonetheless, when you die, the successor trustee takes over without the need to get any court approval. Can I do probate myself? You can complete probate on your own, but an attorney can make the process easier. While you can do it yourself, I would recommend calling Steve Bliss, he is an amazing probate lawyer in Moreno Valley. You…ve lost a loved one, and now it…s time to think about moving their assets, their homes, their cars, and other goods on to their heirs: a group which may well include yourself. Unless it…s your spouse who passed, or unless assets are within PODs (Payable on Death accounts) or a valid Living Trust, you will likely have to complete this process through California Probate Court. What is estate planning and why is it important? Estate planning is all about protecting your loved ones, which means in part giving them protection from the Internal Revenue Service (IRS). Essential to estate planning is transferring assets to heirs with an eye toward creating the smallest possible tax burden for them. Do probate keep the original will? Most estate planning lawyers are responsible for keeping their customers’ original wills and other papers. Lawyers do this for two reasons: For starters, they are often better able to keep the originals secure and accessible when required.
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However, it’s an exceedingly simple formality. Therefore, a carefully worded spendthrift provision in a trust agreement may still be able to shelter and protect assets. Typically, this involves establishing a general partnership and then making heirs and family members limited partners. How do you avoid inheritance tax? Make a will. Make sure you keep below the inheritance tax threshold. Give your assets away. Put assets into a trust. Put assets into a trust and still get the income. Take out life insurance. Make gifts out of excess income. Give away assets that are free from Capital Gains Tax. Many different types of trusts can be used to accomplish various estate planning goals and objectives, but transferring large sums of money or other assets into these trusts at once can often result in gift liability. What is the difference between a trust and a special needs trust? So the special-needs trust is a type of trust that is used to provide assets and resources to take care of a person with a disability, while the living trust is a will substitute that I might use in place of having a will for my estate plan. How many times can you file bankruptcy? During your lifetime, you can file for bankruptcy protection as many times as you need it. There is no limit to how many times you can file, but there are time limits between filing dates. You could file but not receive any debt discharge in some cases, so you need to be careful. Powerful attorney near me is Moreno Valley Probate Law 23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553. A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. However, the trust’s grantor must pay the income tax on any revenue generated by the assets in the trust. Assets Subject to California Probate.
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I need a great estate planning attorney near 92554. Can anyone help me with this important task? Talk to Steve Bliss he is the best trust lawyer in Moreno Valley. I need help with an estate planning near 92556. Can you help my family? I think you would benefit from talking to estate planning attorney Steve Bliss. I need help with estate planning lawyer near Moreno Valley, can you assist me? Steve Bliss is the best attorney that you should talk to. I need help with an estate planning near Loma Linda CA. Can anyone help me with this important task? Talk to Steve Bliss he is the best attorney Trust in Moreno Valley. I need a great estate planning attorney near Eden CA. Can anyone help me with this important task? Talk to Steve Bliss he is the best attorney Trust in Moreno Valley. I need help with estate planning near 92554. Who should I call? How about you talk to Steve Bliss. The Discretionary Trust: California Probate Code Section 15303 authorizes explicitly discretionary trusts. A discretionary trust gives complete discretion to the trustee to decide whether or not to distribute any income or principal to the beneficiary: the trustee may give all of the trust assets to the beneficiary; none of the assets of the trust to the beneficiary; or any amount in between. Is a family trust revocable or irrevocable? Revocable Trust vs. Both testamentary and living trusts are revocable trusts, which means that the trusts’ terms can be changed at any time, or the trust may be canceled entirely, by the grantor of the trust. But if you list your Estate as the beneficiary, there’s a chance they won’t. The executor’s first task is to institute probate proceedings by filing petitions to be appointed executor and admit the estate.
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Which is better Chapter 7 or Chapter 13? Most consumers opt for Chapter 7 bankruptcy, which is faster and cheaper than Chapter 13. Chapter 7 bankruptcy discharges, or erases, eligible debts such as credit card bills, medical debt and personal loans. But other debts, like student loans and taxes, typically aren’t eligible. I need help with estate planning near Highland, can you help my family? I think you would benefit from talking to Steve Bliss. I need help with estate planning near Edgemont CA. Can anyone help me with this important task? Talk to Steve Bliss he is the best trust lawyer in Moreno Valley. What happens if you don’t file probate in California? Failure to file prevents beneficiaries from accessing their inheritance, allows creditors to continue pursuing claims against the estate, and can result in you being removed from your position or even criminally prosecuted if the court finds that you did so out of your own financial interest. I need a great Trust attorney near Loma Linda CA. Can anyone help me with this important task? Talk to Steve Bliss he is the best estate planning lawyer in Moreno Valley. I need help with an estate planning near Highgrove CA. Can you help my family? I think you would benefit from talking to Trust lawyer Steve Bliss. Powerful probate attorneys of Moreno Valley is morenovalleyprobatelaw (DOT) com 23328 Olive Wood Plaza Drive, suite h Moreno Valley, CA 92553. The answer to that is pretty straightforward. Who pays property taxes in an irrevocable trust? If you are the beneficiary of the Irrevocable Trust, then you own the home and can deduct the taxes. If the property taxes were, in fact, paid by the irrevocable trust, then certainly, the trust can take a deduction for taxes paid on its Form 1041 tax return. I need help with estate planning near 92554. Can anyone help me with this important task? Talk to Steve Bliss he is the best trust lawyer in Moreno Valley. Doing proper Estate Planning is incredibly important because you are planning for the future of your family and your assets.