Estate Planning in California: Probate, Wills, & Trusts with Carmen Rosas Law & Realtor Miriam Cruz
Understanding the concepts of probate, wills, and trusts, and how they interact with each other.
The process and requirements for creating a trust, including considerations for significant assets, minor children, and real estate.
Common challenges in estate management, including how to choose a trustworthy individual to manage the trust.
The role and costs of bonds in probate proceedings.
How creditor claims impact the probate process and the differences from typical probate cases.
The necessity of estate planning, including trusts, wills, power of attorney, and health care directives, and the implications of DNR orders.
The responsibilities and compensation of trustees, and the conditions under which they can be removed.
Issues faced by individuals who represent themselves in legal matters, the importance of hiring professionals, and the timeline for court hearings.
Tax benefits of trusts, including how they can help avoid capital gains tax, property tax reassessment, and the impact of California’s Prop 19.
The costs of maintaining a trust, debunking myths about trust expenses, and understanding
California’s stance on asset protection trusts, estate tax exemptions, lifetime gifts, and estate taxation.
How to select a trustee, the potential issues with multiple trustees, and the factors to consider when choosing the right person.