Building an estate plan is not a simple process, especially in states like California, which carries more regulations and additional taxes than many others. Once a person begins looking into estate planning, they might easily get overwhelmed by the variety and complexity of the financial planning tools available.
Understanding asset protection trusts
How does trust litigation differ from challenging a will?
Many people in California have established a living trust as a means for distributing their assets to their chosen beneficiaries upon their death. However, even the most carefully thought-out trust can be the subject of trust litigation brought by a beneficiary who believes the trust should rendered invalid. When a beneficiary wants to challenge a trust, they will have to file a lawsuit against all other beneficiaries. This makes challenging a trust more complicated than challenging a will.
Meeting your estate planning needs for you and your loved ones
Estate planning isn't just about making sure your wishes are met. It is also one of the greatest gifts you can give to your loved ones. With a complete, enforceable estate plan in place, your loved ones will know what your medical wishes are, how you want your assets handed down, and who you want to make decisions on your behalf. Thus, an estate plan can help your loved ones cope with your incapacity and death when the time comes.
