When you create an irrevocable trust, the assets you place in it are generally considered locked away. The common assumption is that such a trust cannot be changed. In reality, under certain circumstances, it may be possible to revoke or terminate an irrevocable trust, but the process is complicated. A trust is its own […]
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Trustee Selection: Why It Matters and How to Get It Right
Selecting a trustee is one of the most important—and most misunderstood—decisions in Estate Planning. While many individuals focus on who will receive their assets and how those assets will be distributed, far fewer consider the impact the Trustee will have on the management and distribution of those assets. This article explores why trustee selection matters, common pitfalls that lead to conflict and litigation, and how thoughtful planning can help preserve both family harmony and a lasting legacy.
Navigating Tax Issues With Vacation Property Rentals
Purchasing a vacation home and renting it out is an excellent way to help finance the property. However, the tax aspects of renting your vacation home while also using it as a personal residence can get tricky. By involving a tax professional at the beginning of the process, you can avoid complicated tax problems down […]
Tale of Caution: The Cost of a Kind Heart
Hi there, Bridget MacKay at MacKay Dressler Law Firm. And I want to give you what we used to call, or have called, if you go way back in our archives, a Tale of Caution. Recently, I had someone come to me whose brother is older. He’s still competent, but he lives on his […]
What Are the Requirements for a Valid Will in California
When you think about estate planning, a will is often the first document that comes to mind. A will is familiar, widely discussed, and deeply rooted in popular understanding of how property passes at death. Still, California law does not treat wills casually. Very specific legal rules determine whether a will is valid, and missing […]
Avoid Family Disputes Through Clear Estate Planning
Hey there, Bridget MacKay at MacKay Dressler Law Firm. And today I want to talk to you about avoiding family disputes through clear planning. So, a lot of us have this fantasy that when we pass away, our loved ones are going to become closer together because I’ll be gone and they’re going to […]
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