Wills, Trusts & Probate Law Blog - Werner Law Firm

Wills, Trusts & Probate Law Blog

What Is an Irrevocable Life Insurance Trust (ILIT)? - Werner Law Firm

What Is an Irrevocable Life Insurance Trust (ILIT)?

Life insurance policies provide a plethora of tax advantages depending on the policy and your circumstances, especially regarding its beneficiary. But for you, the policyholder, a large life insurance policy payout after your death may count towards your estate’s total value and potentially push you over the edge of the federal and/or state estate tax

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What Is a Small Estate Affidavit? - Werner Law Firm

What Is a Small Estate Affidavit?

In California, a “small estate affidavit” is often used to resolve final estate matters for a deceased person who died without a will and can help fast track the costly, lengthy process of probate. A small estate affidavit is a state-specific legal document used to skip the estates’ probate process with a total value under

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When Does Trust Litigation Become Necessary? - Werner Law Firm

When Does Trust Litigation Become Necessary?

The trust litigation process is reserved for cases where the integrity of trust is in question. Like other examples of litigation, trust litigation requires thorough research and a lengthy, at times expensive discovery process to prove ill intent or wrongdoing and justify damages or some other compensation for the petitioner. There are times when trust

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What Is Conservatorship, How Does It Work? - Werner Law Firm

What Is Conservatorship, How Does It Work?

When an adult is no longer capable of caring for themselves, their loved ones may step in to care for them – to the point of taking full authority over their lives, if circumstances validate it. That is what a conservatorship authorizes. Conservatorships may be considered in cases where adults are no longer self-sufficient due

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The California Trust Administration Process - Werner Law Firm

The California Trust Administration Process

When a person dies, their assets must be distributed among their relatives or persons of their choosing. Accounts, real property, and even sentimental items may be bequeathed to individuals, groups, or organizations. An estate plan can help a decedent’s loved ones (and the appropriate probate court) determine who gets what after death. Estate plans often

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Using a Family LLC for Estate Planning - Werner Law Firm

Using a Family LLC for Estate Planning

The estate planning process aims to simplify the transfer of assets and properties between generations while minimizing costs and streamlining wherever possible. By default, dying intestate (without a will or any other estate planning documents) means that anything you own will automatically be distributed as per state law. This may not be in your best

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What Are Annuities, How Do They Work? - Werner Law Firm

What Are Annuities, How Do They Work?

Annuities are highly flexible financial instruments designed to turn an initial lump sum or series of installment payments into a larger nest egg for the future through investment. These payments are made to a financial institution, which then uses them to manage assets on your behalf until the annuity is fully paid out to you.

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