Author Archives: Jay Butchko
Probating And Managing Estates For People Who Disappear
When we talk about estate planning, we make one fundamental assumption: When it comes time to probate the will, or do what the trust says, or for other estate documents to take effect, someone will have died. But sometimes we don’t actually know if someone has died. It is often the case that someone… Read More »
GRATs (Grantor Retained Annuity Trust) Are Popular Estate Planning Tool For Those With Large Estates
It has long been a strategy for people with wealth to use what is known as a special trust in order to pass property on while also avoiding paying state taxes. A recent article highlights this practice, and how prevalent it is, especially among the richest people in America. Trusts are Private One reason… Read More »
When Is The Best Time To Start Your Estate Planning? Is It Ever Too Early Or Is It Ever Too Late?
It is never too early to begin your estate planning. If you have not done so already, a few life events should be the impetus to do so. Some of those include: getting married, buying a house, and having children. It is recommended that the moment one turns 18 years of age that they… Read More »
When Someone Begins Planning For Their Or Their Parent’s Future Needs, What Are Some Of The Most Common Questions Or Concerns They Have?
One of the more common concerns is if the government will take a large amount from the estate, and the answer is no in most cases. Other concerns include the question of minor children and if they will inherit all their property at once. Without an estate plan in place, that is what will… Read More »
What Happens To Our Assets When We Die If We Haven’t Made Proper Plans In California?
If you haven’t made a proper estate plan in California, the government has made one for you. California law has a plan. When you die without a will, you’ve died intestate and there are default rules in place as to what happens. In general, there is a hierarchy of people who will inherit your… Read More »
What Are Advance Health Care Directives And Do You Need One?
There are times during life when we are not able to make our own health care decisions. Sometimes, the condition is temporary, such as if you are unconscious after a bad accident. Other times, it is permanent, such as falling into a vegetative state because of illness or disease. Either way, while you are… Read More »
Why It Is So Important To Create An Estate Plan Sooner Rather Than Later
We have often written about how important it is to have a good estate plan including a will. Recently, news outlet Vox.com wrote an important article, telling others how important a last will can be — not just for you, but also for your family and loved ones. Avoid the Fighting One of the… Read More »
Do I Need An Attorney If I Am A Trustee Of A Trust?
Congratulations – you’ve been selected to be a trustee, or maybe you’re even volunteering to do it. Except, as the saying goes, with great power comes great responsibility. That means you, as a new trustee, have that responsibility. Is it a responsibility you can handle without an attorney? Trust Basics: What is a Trust?… Read More »
Leaving And Accounting For Intellectual Property In Your Estate Plan Documents
When we think about estate planning, we often think about our “tangible assets.” This generally means our physical property, money, or the items that we can use, spend, or touch. But what about intangible assets, like intellectual property? What is Intellectual Property? Intellectual property is the general term for the things that we invent,… Read More »
What Is A Trust And Why Do I Need One?
You probably hear an awful lot about using trusts as an estate planning tool. Between inter vivos trusts, testamentary trusts, revocable and irrevocable trusts, and specialized trusts like gun trusts, pet trusts, and loads of others, you may find yourself getting back to the basic question of why you would ever need a trust… Read More »