Wills, Trusts & Probate Law Blog

Home » Probate » Page 2

Category: Probate

Probate services refer to the legal services provided to individuals or families involved in the administration of a deceased person's estate. These services typically involve the court-supervised process of distributing the deceased person's assets and properties to their beneficiaries or heirs according to their will or state laws if there is no will. Probate services may include drafting and filing legal documents, representing clients in court, resolving disputes between beneficiaries, managing estate assets, and advising clients on tax implications and strategies for asset protection. The goal of probate services is to ensure that the estate is distributed in an orderly and fair manner while minimizing costs and maximizing the value of the estate for the beneficiaries. Probate services are often provided by lawyers, but may also be provided by other professionals such as estate planners or financial advisors.

Get the help you need and contact us today!

Can You Leave Cryptocurrency to Heirs

Can You Leave Cryptocurrency to Heirs?

POSTED ON: August 15, 2025 BY: The Werner Law Firm
The most heartbreaking way to lose cryptocurrency involves forgetting passwords or losing access to private keys, effectively locking away digital wealth forever.
Read More
Help Your Executor Fulfill Your Wishes

Help Your Executor Fulfill Your Wishes

POSTED ON: August 7, 2025 BY: The Werner Law Firm
Being an executor of an estate isn't easy, so you should do what you can to help them out.
Read More
Top Estate Planning Mistakes to Avoid

Top Estate Planning Mistakes to Avoid

POSTED ON: August 6, 2025 BY: The Werner Law Firm
Here's a look at the most common estate planning mistakes that people make, including those who have a valid will in place.
Read More
Is My Will Valid If I Move to Another State

Is My Will Valid If I Move to Another State?

POSTED ON: August 4, 2025 BY: The Werner Law Firm
Wills don’t automatically become invalid when you move. However, state laws can affect how they’re interpreted or enforced.
Read More
What Happens When You Inherit a House with a Mortgage?

What Happens When You Inherit a House with a Mortgage?

POSTED ON: August 1, 2025 BY: The Werner Law Firm
Inheriting a home with an outstanding mortgage adds financial and legal responsibilities that heirs must address quickly and carefully.
Read More
When to Say No Thanks to an Inheritance

When to Say No Thanks to an Inheritance

POSTED ON: July 30, 2025 BY: The Werner Law Firm
An inheritance often is seen as a financial windfall. However, there are times when people may want to consider saying thanks, but no thanks.
Read More
If timed correctly, a short-term Grantor Retained Annuity Trust (GRAT) is something to be considered when markets are bumpy, says a recent article from mondaq, “Estate Planning Amid Market Volatility: Leveraging GRATs.” If investments have dropped in value, they can be transferred to a GRAT. If the investment returns to its original value, the difference between the value at the time of transfer and the long-term value could pass to the next generation without incurring any gift tax. This is not a guaranteed event, requiring steel nerves and patience. However, it could reap significant benefits. Short-term GRATs can be used to transfer income appreciation in investments to offspring at a low gift tax cost. What characterizes a short-term GRAT? It has a stated term of two to four years, and during that time has an obligation to pay the funder the retained annuity. When it ends, any property remaining in the trust is distributed to the children with no gift or estate tax. If you die before the end of the trust, the remaining property reverts to your estate. The goal of this strategy is to let children receive investment returns on property more than a stated IRS interest rate. Since the beginning of 2023, this has fluctuated between 4% and 6%. If the funds in the trust generate a total return higher than the IRS rate, the children could receive the excess return. If the property doesn’t return at least the IRS rate, all the trust assets are repaid to you. The children may not have received anything from the trust. However, there’s no loss to them. If you made a gift of the property and then the property lost value, you’d have paid gift tax at a value higher than what was received by your heirs. The same would be true if you made a loan to your children and they either had losses or didn’t achieve a return equal to the minimum IRA rate, as they would owe the principal amount of the debt. Here’s an example let’s say you transfer $1 million in assets to a two-year GRAT, and the children invest the funds, earning a 6% annual return. At the end of two years, they’d get a tax-free gift of about $50,000 to $80,000. You’d transfer $1 million to the trust, and the trust would promise to pay $510,000—$530,000 at the end of the first year (depending on the IRS interest rate), and an additional $510,000—$530,000 at the end of the second year. The annual payments are your “retained annuity.” There is a small taxable gift at the time the trust is established. If the trust had promised a smaller amount, there would have been a bigger gift when it was established. If the trust earns 6% during the first year, the net value is $1,060,000. The trust would pay you $520,000. The remaining $540,000 would be invested for the second year, earning a 6% return of $32,400. At the end of the second year, the trust would have $572,400, and you would be owed the second annuity payment of $53,000. The GRAT is deliberately limited to two years to avoid offsetting gains against losses. If the trust had a six-year life span and experienced 12% gains in the first two years, then a loss in years three and four, and then gains again in years five and six, with the bad years offsetting the good years, the amount payable to your children would be reduced. By establishing a new trust every two years, it’s more likely you’ll capture the gains in good years. The short term also increases the chances of your not dying during the term of the trust, which would undermine any gains. This strategy is not suitable for every investor, since it involves risks. Talk with your estate planning attorney to see if it might be something to benefit you and your family. Reference: mondaq (June 12, 2025) “Estate Planning Amid Market Volatility: Leverag

Estate Planning Strategies During Volatile Markets

POSTED ON: July 28, 2025 BY: The Werner Law Firm
Among other potential strategies, while the markets remain volatile, if timed right, a short-term grantor retained annuity trust (GRAT) could be an option to pass significant wealth to the next generation.
Read More
Top Digital Estate Planning Mistakes to Avoid

Top Digital Estate Planning Mistakes to Avoid

POSTED ON: July 7, 2025 BY: The Werner Law Firm
The rise of digital platforms, online accounts, and cryptocurrency has reshaped the role of digital assets in modern estate planning.
Read More
Zappos Founder’s Will Is Discovered What Now

Zappos Founder’s Will Is Discovered: What Now?

POSTED ON: June 13, 2025 BY: The Werner Law Firm
Tony Hsieh left a will that was just discovered—4½ years after his death, according to a new court filing that could upend the tech mogul’s probate case and legal battles over his estate.
Read More
Steps to Avoid Inheritance Issues in Second Marriages

Steps to Avoid Inheritance Issues in Second Marriages

POSTED ON: June 3, 2025 BY: The Werner Law Firm
Blended families face unique estate planning risks—without clear documents and careful planning, inheritance conflicts between spouses and children are almost inevitable.
Read More

Why Our Living Trust Law Firm & Probate Attorneys?

Founded in 1975 by L. Rob Werner and serving California for over 50 Years, our dedicated attorneys are available for clients, friends, and family members to receive the legal help they need and deserve. You can trust in our experience and reputation to help navigate you through your unique legal matters.

Whether you need help creating a living trust or navigating probate, our living trust law firm's compassionate team of estate planning lawyers and probate lawyers are here to help you and ready to answer your questions.

Our goal is to make your case as easy as possible for you. Hiring a lawyer can be a daunting task, but it doesn’t have to be. From the moment you contact our firm, through the final resolution of your case, our goal is to make the process easy and understandable. We cannot change the fact that probate is a long and complicated process, but through our Werner Law Firm Difference, we strive to go out of our way to keep you informed of your case through every step of the way. We are constantly refining our processes and procedures for a more streamlined and calm client experience. Our goal is to have you feel like a burden was lifted from your shoulders, and that we made the whole process an easy one

If you're dealing with a legal matter, we urge you to schedule a free initial appointment today and join the many satisfied clients who have contacted Werner Law Firm.

Book an Initial Call Now

Join Our eNewsletter and our California Estate Planning and Probate Blog Digest

Probate Superheroes and Werner Law Firm Brand
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. See full disclaimer here.
Santa Clarita, CA Office

27433 Tourney Rd, Suite 200
Santa Clarita, California 91355

DIRECTIONS
Los Angeles, CA Office

10801 National Blvd, Suite 531
Los Angeles, CA 90064

DIRECTIONS
Bakersfield, CA Office

4900 California Ave, Tower B-210
Bakersfield, California 93309

DIRECTIONS
Newport Beach, CA Office

23 Corporate Plaza Dr., Suite 150
Newport Beach, California 92660

DIRECTIONS
Lancaster, CA Office

626 W Lancaster Blvd.,
Lancaster, California 93534

DIRECTIONS
Pasadena, CA Office

35 North Lake Avenue, Suite 710
Pasadena, California 91101

DIRECTIONS
Simi Valley, CA Office

2655 First St, Suite 250
Simi Valley, CA Office, California 93065

DIRECTIONS
Encino, CA Office

15760 Ventura Blvd, Suite 700
Encino, California 91436

DIRECTIONS
Oxnard, CA Office

300 E Esplanade Dr., 9th Floor
Oxnard, California 93036

DIRECTIONS
Santa Barbara, CA Office

7 W. Figueroa St., Suite 200
Santa Barbara, California 93101

DIRECTIONS
IMS - Estate Planning and Elder Law Practice Growth Advisors
Powered by