Who Will Take Care of My Children and Their Inheritance if the Worst Happens? The parent of a minor child has the legal power to nominate a Guardian of the person. The nomination will typically appoint the surviving spouse if there is one and then if there is no surviving spouse there will be a list of people.
What are the assets in the deceased person’s estate and how will the appointed Personal Representative go about discovering, identifying, and taking possession and control of the decedent’s assets so that they can be used to pay the taxes, creditors claims, and expenses of administration and ultimately distributed to the estate beneficiaries.
Can a deceased Person’s Estate escape debts and taxes? Yes and no… Here’s the skinny on what to do and how to do it. Includes is a warning to the personal representative that the debts and taxes of the decedent can be a time bomb waiting to happen and can throw a monkey wrench in the timing and distribution of the estate.
A Probate Conservatorship is a court proceeding to protect a person and/or his or her property. Conservatorships are regulated by the California probate code and operate under the supervision of the probate court system. Petition for Appointment of Probate Conservator can be denied by the court for many reasons including credit worthiness.
Can I give everything to the “love of my life” and keep it secret? In 1997 the law was changed to require disclosure. Sometimes people establishing trusts have legitimate interests in keeping some or all of their heirs out of their personal business and there are strategies to keep your Trust secret!