If you have a valid legal claim against a deceased person, you may still be able to receive compensation by filing a lawsuit against the deceased person’s estate. However, you will typically need to direct your efforts at the estate rather than the individual heirs. Under California Probate Code §9050 and §9051, the personal representative …
A trustee is a fiduciary, which means that they have a legal duty to act in the best interests of the trust’s beneficiaries. A “breach of trust” occurs when a trustee violates their fiduciary duties. In general, trustees have a duty to act in the best interests of the beneficiaries, to manage the trust property …
Inheritance laws in Florida are based on whether there was a valid, enforceable last will and testament for the person who passed. If they had executed and signed a will, their remaining assets would typically be distributed according to the wishes outlined in the document. However, if someone passes away without a will, their assets …
Tortious interference is when a third party to a contract intentionally acts to harm the financial potential of the relationship. While it is usually associated with business contracts, wills and trusts can be subject to tortious interference in Florida. An inheritance can be a significant financial event in your life. If someone improperly interfered to …
The term “residuary” refers to the “residue” of an estate or trust, which is all of the property that remains after the specific gifts detailed in the will or trust are distributed. An asset, such as personal property or real estate, is considered to be part of the residue of an estate or trust if …
An inheritance lawyer, also known as a probate or estate lawyer, is a state-licensed attorney who helps personal representatives and heirs of estates handle the estate of a deceased person. An inheritance lawyer can be involved in various capacities based on the specific details of an estate. A probate lawyer’s role in settling an estate …
A dynasty trust is a type of irrevocable trust that can be used to pass wealth from generation to generation. Its primary purpose is to minimize taxes. While the property remains in trust, it is not subject to estate, gift, or generation-skipping transfer (GST) taxes. The person who initially creates the trust, who is known …
When comparing a trustee and a beneficiary of a trust, it is difficult to say who has “more rights,” as they each have completely different roles, powers, and responsibilities. While the trustee has a great deal of authority to administer the trust and manage its affairs, they also are bound by a fiduciary duty to …
Who Has More Rights, a Trustee or the Beneficiary? Read More »
The Uniform Electronic Transactions Act (UETA) is a “model” legal code, which means that states must pass their own legislation for it to become law. The UETA gives electronic signatures the same legal validity as a handwritten “wet” signature for certain transactions that the parties have agreed to conduct electronically. Every state except New York …
Is Texas a Uniform Electronic Transactions State? Read More »
When people pass away, they often leave behind bank accounts, investments accounts, retirement accounts, real property (homes, rental properties, etc.) and other personal assets as inheritance for their survivors. But how do two or more siblings divide up inherited real estate and other property? This question has caused countless family quarrels. However, you can take …
How To Divide Inherited Property Between Siblings? Read More »
Typically, if you are a beneficiary of a revocable living trust or an heir of a trustor or grantor (the person that created the trust), you have a minimum of 120 days to file your contest petition in the appropriate court, at least in California. The 120-day time period may seem excessively short, but statutes …
If you think that your loved one’s wishes are not reflected in the terms of their trust document or the way it is being distributed, you may have the right to challenge the trust in court. However, only certain individuals can fight a trust and even then only on specific grounds. Here we’ll take a …