Wednesday, January 22, 2014

Rules of Trust Administration in California – Continuing Education

Lynn A. Dean is one of a 6-panel faculty member presenting the upcoming Lorman® seminar on trust administration. The 1 day seminar is February 21, 2013 from 8:30 – 4:30 at Holiday Inn Express & Suites, Cal Expo-Sacramento, CA.  

The Rules of Trust Administration in California seminar is designed to help professionals recognize the different levels of trust intricacy depending on the type and value of the assets involved. Participants will learn valuable techniques to improve trust function, as well as tips on managing important legal, tax and family issues. It’s not too late to register – click here for more information 

Lorman® Education Services is an Accredited Continuing Education Provider.  To learn more about the certification credits in your field of interest, visit www.lorman.com/certification

Monday, January 13, 2014

Many Things to Consider in Settling a Living Trust

Lynn A. Dean
Estate Planning Attorney
After the Trustor dies, the successor trustee is responsible for administering the deceased's trust and distributing the property in accordance with the terms of the trust. The process takes place outside of a court and is usually done with a team approach between the attorney and in some cases the clients' tax and financial advisors so that everyone is working with the same goals and understanding. In most cases, only a limited amount of paperwork is needed to settle and distribute a living trust, but keep in mind settling an estate after a person dies takes time. Typically the activity that takes the longest is determining what will be done with the personal property at the decedent's home.

There are many situations that may arise in settling a living trust and we provide some examples on our website under Trust Administration. A lawyer's assistance will be helpful, but is not required by law. If a legal problem arises, California law provides a procedure for submitting trust questions and disputes to the court.

At the Law Office of Lynn A. Dean, we have the experience to step into simple and complex situations and guide the Trustee through the process to protect the estate's value for the benefit of all beneficiaries. This includes working the trustee to resolve any issues quickly.



Thursday, January 2, 2014

We need to Talk – Personal Choices to Review and Estate Planning

Lynn A. Dean
Estate Planning Attorney
Is there is a growing trend of personal year-end reviews, likened to the annual work related performance evaluation?  Wall Street Journal contributor to CBS news Jennifer Wallace and New York Times science columnist, John Tierney spoke on this topic, “Should There Be an YearEnd Review for Loved Ones?” 

Objectives and accomplishments, areas for improvements and annual goals are good topics for discussion. The objective is to have a forum for open communication about where you have been and where you are planning to go.  The idea is to make sure you and your partner are on the same page.  Most of us are familiar with the concept, and not just from our jobs.  We tend to review our finances, taxes, vacation plans or home improvements at some point.  These topics are often triggered by end of the year marketing, New Years’ resolutions and tax deadlines.  Sometimes it’s a life event that that shakes us up.  

Estate planning is a natural bridge between personal and financial reviews.  Have you designated someone power of attorney for financial matters?  Who’s the point person for medical decisions if you are unable?  If there are children, who would you choose to take care of them if you were not able?   If you like the idea of personal annual reviews, contact us.  At the Law Office of Lynn A. Dean, we make it easy.