What's the difference between a Living Trust and a Revocable Trust? The answer is simple. There is no difference. My opinion is that lawyers coined the name "Living" trusts because "Revocable" was too confusing to most people. The term living implies before death, so it is easier for people to understand. A "Revocable" trust is...

I learned a lesson when I first started practicing estate planning law.  Always, always, always run a title search on all client real property to make sure there are no problems. Many people record deeds over time that supposedly change title to property.  Quit claim deeds to ex-spouses, gifts to children, adding a new spouse…

As of January 1, 2016, there is a new estate planning tool available to residents in California.  It’s called a “transfer on death”, or TOD deed.  The TOD deed allows owners of certain residential real property to name one or more beneficiaries to receive title to the property upon death, thus avoiding the need to…

Protecting your assets from Nursing Home Costs       The topic of covering nursing home costs is always a difficult one.  No one wants to go to a skilled nursing facility, but sometimes our health puts us there.  I always discuss the issue of planning for the possibility of an extended nursing home stay with all…

ALERT. Be careful when considering a Transfer on Death deed as an estate planning tool. I had a troubling conversation today with a senior title company officer regarding Transfer on Death (TOD) Deeds. As you may know, California adopted the TOD in 2016 as a valid transfer method of passing property to others at death….

I just discussed the issue of reverse mortgages with a client. She has a $425K home with a $325K RM and assumed she did not need a trust.  I explained that for her heirs to receive the equity in her home after she passed away the house would have to be sold within 6 months…