Archive for Estate Planning

Estate Planning Defined—How can a Successor Custodian of an UTMA Account be Appointed?

| February 23, 2011 | 0 Comments

Issue: Earlier this week, a potential client emailed me with a question about the manner in which a successor Custodian of an UTMA Account can be appointed. She wrote the following: My father recently died. Several years ago, he established an UTMA account for my 15 year old daughter. The financial institution where the account […]

Estate Planning Defined – What are the Current Rules regarding the Taxation of Gifts?

| February 1, 2011 | 1 Comments

Issue: Earlier this week, one of my clients emailed me with a question about the current status of the federal gift tax laws, as follows: I’d like a little advice on a gift tax issue. Until now, I have kept gifts to my various family members under the taxable level (or at least in good […]

Filed Under: Estate Planning

Estate Planning Defined – Can The Trustee of a Continuing Trust Who is Also The Beneficiary Withdraw Trust Principal?

| December 27, 2010 | 2 Comments

Issue: I recently received the following question from a Caller: I am a beneficiary of a “Bypass Trust,” which was set up after my Father’s death and had been managed for the benefit of my Mother during her remaining lifetime. My Mother just died. I have been told that my share of the property remaining […]

Estate Planning Defined – What are the “Pros” and “Cons” of “Transmuting” Property Owned by a Married Couple in California?

| December 14, 2010 | 2 Comments

Issue: Married couples who reside in California have the opportunity to accumulate community property, separate property, quasi-community property, or some combination of the three. Sometimes a married person may wish to convert his or her separate property to the community property of the married couple or even to the separate property of the other spouse. […]

Estate Planning Defined – What Is Community Property?

| November 3, 2010 | 0 Comments

In this post, I define community property, which is a term that, I have found, is not always clearly understood by those who use it. First, community property can be either real property (farm land, raw land, land improved with buildings, a condominium, a townhouse, a single family dwelling, etc.) or personal property (bank accounts, […]

Estate Planning Defined – What Is an “Estate Plan”? (Part 3 of 3)

| October 28, 2010 | 0 Comments

This post is Part 3 of our 3-part series in which we answer the question: What is an “Estate Plan”? From Part 1 of this series, I gave you the general definition of an estate plan and listed the two primary types of estate plans: An Estate Plan that is built around a Last Will […]

Estate Planning Defined – What Is an “Estate Plan”? (Part 2 of 3)

| October 18, 2010 | 2 Comments

This post is Part 2 of our 3-part series in which we answer the question: What is an “Estate Plan”? From Part 1 of this series, I gave you the general definition of an estate plan and listed the two primary types of estate plans: An Estate Plan that is built around a Last Will […]

Estate Planning Defined – What Is an “Estate Plan”? (Part 1 of 3)

| September 20, 2010 | 33 Comments

Hello! Welcome to the first blog post of Estate Planning Defined. I am James B. Creighton, attorney at law, and I am the author of this blog, which is intended to provide estate planning, probate, trust, and long term care planning information to the community. My firm is Creighton Law Offices and we are located […]