Transfer on Death Deeds in California

Yes, it is is true, California has enacted a transfer on death tool for California real property.  The application of the tool applies narrowly and is likely not a good tool for many people.  The technique is only available for a few years and will sunset if not extended by the state legislature.  For those needing Medi-Cal estate recovery planning, the tool is not a good option.  You should contact your estate planning counselor to determine if this technique is right for your situation.  

Probate Roundup 2014.10.6

Estate of Stephen XXXX.  Estate appraised at $204,659.04.  Statutory attorney fees to be $7,272.25 upon approval.  Statutory administrator fees (i.e., Stephen died intestate - - meaning without a will...so he has an "administrator" instead of an "executor") to be $7,272.25 upon approval. Total fees prayed for = <$14,000.00.  Looks like another probate that could have been avoided by proper trust planning.

Base Conservatorship Fees

Food for thought.  Fresno County permits a miminum of $2,500.00 in attorney fees to establish a conservatorship without need to provide proof of time involved by the attorney.  That fee is likely exceeded on a routine basis.  Conservatorships happen when a person becomes incapacitated, has issues requiring a conservatorship, and did not create powers of attorney (financial and health care).  Powers of attorney are a fraction of the cost of a conservatorship. You pay premiums for risk that may never happen concerning your car, but have you hedged against this risk effecting your life and the life of your family?  Food for thought.

Follow the Yellow Brick Road

In the matter of the John Edward XXXX Trust, the current corporate trustee filed a petition to resign as such.  The trust requires there to be a corporate trustee, however, and therefore a new corporate trustee must be appointed as follows: (i) by the current remaining trustees; or (ii) by the exiting corporate trustee.  Since neither have been done, the court may deny the petition for resignation.  The first rule of trusts, is to follow the rules of the trust.....or, as they say in Oz, "Follow the Yellow Brick Road."  Deviate, and little flying monkeys may cart you off.

Survey: More Than 1 In 4 Car Crashes Involve Cellphone Use « CBS New York

National Safety Council attributes 26% of wrecks to cell-phone use (but only 5% of that is from texting).  I've blown stop signs while engrossed in conversations...this is a serious issue.  It only takes a single wreck to find yourself incapacitated or in the obits.  Make sure your loved ones are taken care of by having a will/trust and powers of attorney (health and finance).  Have you blown a stoplight/stopsign or known of someone who has?