Owning property together is just one of the ties that can connect family members. Often through inheritance family members suddenly have to deal with the unexpected consequences of jointly owned property. It is important to understand how real property title can affect who receives the property when an owner dies.

To settle revocable trust assets after the trustee's death, you will follow a process similar to probating a will but without the court process. With this in mind, there are a few differences you must know. The successor trustee must follow specific steps to handle this process correctly. If you leave anything out, then the revocable trust may not be settled. A People's Choice can help you navigate the sometimes complicated process of how to settle a revocable trust after the trustee's death.

If you wish to avoid estate planning, advisers may recommend California's Transfer on Death Deed. Once you file this deed with the county, theoretically your properties will automatically transfer to named beneficiaries without probate. Since the forms associated with this transfer are inexpensive to record and fully revocable, the concept often feels like the answer to a prayer. Unfortunately, these transfers have many drawbacks.

Did the County Assessor reassess your real property due to a title change? The consequences of title changes and reassessment of real property are often overlooked and greatly misunderstood. Title changes of real property often occur when there is a sale or purchase, or by gift or inheritance. The transfer may be voluntary, involuntary, contract of sale, or the addition or removal of an owner. Keep in mind, payment for the title change is not required though the reassessment of real property may still occur.

In order for a disabled person to receive disability benefits, such as Supplemental Security Income (SSI) and Medicaid, he/she must demonstrate that he/she needs the income to live independently.  Any assets, even gifts from family members, may be counted against him/her, and could reduce his/her benefits. There are two ways that family members can contribute to a disabled person without those contributions affecting their benefits- special needs trusts and California ABLE accounts.

A power of attorney is a legal document that allows you to appoint another person to manage your affairs in the event you become incapacitated. There are different types of power of attorneys. Each type permits the person you appointed, known as the "attorney-in-fact," to exercise different degrees of control over your affairs. They may be able to control your finances, make decisions about your health, or both. Most people do not realize there are different variations of this designation.

Need to amend a living trust? A People’s Choice offers non-attorney estate planning services and can help to amend your living trust. You can save hundreds of dollars to amend a living trust by using a regisered legal document assistant rather than hiring a lawyer. Here are the steps you need to amend a living trust.

A spendthrift trust is a great tool to protect, preserve, and pass on wealth to beneficiaries. What makes a spendthrift trust so special? This article will explain the benefits of a spendthrift trust.