q TRUSTS-DUTY TO ACCOUNT TO BENEFICIARIES By: David L. Crockett, Attorney, CPA UCLA Law School ’69, UC Berkeley ’66 Newport Beach, Ca 949-851-1771 www.trustandprobatelawyers.com david@clcnewport.com People involved in a trust. Because trusts are not filed or recorded with any government agency, laws have been established to make sure…
TRUSTS – ACCOUNTING- PERSONAL PROPERTY PROCEDURES By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com 7-1-22 Website: TrustandProbateLawyers.com Definition of: The “personal property” as far as trust…
David L. Crockett, Attorney, CPA, UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Your trust must be funded to avoid probate. Your estate will not avoid probate court unless and until your…
By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Website: TrustandProbateLawyers.com WHAT TAX RETURNS HAVE TO BE FILED AFTER A REVOCABLE (LIVING) TRUST IS FORMED? Answer: NONE, as long as both…
GENERIC OUTLINE OF BASIC TRUST ADMINISTRATION STEPS: (Each step of administration can create serious pitfalls and problems if ignored) 1. Study of the trust documents to determine specific instructions i.e. what to do on death of first or second spouse as the case may be. [Why do this?…
TRUSTS – ACCOUNTING-HOW TO PREPARE A FORMAL NON- COURT ACCOUNTING By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Website: TrustandProbateLawyers.com Trustee prepares: The trust accounting is to be prepared by…
PROFESSIONAL FIDUCIARY AS THE TRUSTEE OF A TRUST By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Website: TrustandProbateLawyers.com THREE (3) TRUSTEE CHOICES IN ESTATE PLANNING. When establishing a trust…
HOW TO TRANSFER BANK ACCOUNTS INTO YOUR LIVING TRUST By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Website: TrustandProbateLawyers.com CONCEPT-TRUST IS LEGALLY RECOGNIZED UNDER STATE LAW. Your liv-ing trust is…
HOW TO ACCESS CASH ON DEATH (CASH AVAILABILITY PLANNING) By: David L. Crockett, Attorney, CPA UCLA Law School , J.D. ’69, UC Berkeley ’66 901 Dove St., Ste 120, Newport Beach, CA 92660 Phone: 949-851-1771 Email: David@CLCNewport.com Website: TrustandProbateLawyers.com Typical problem. We all need spendable money to survive from day…
TRUSTS – DUTY TO ACCOUNT TO BENEFICIARIES & TYPES OF ACCOUNTING By: David L. Crockett, Attorney, CPA Types of Accounting: Trust accounting may be (1) Informal; (2) Formal (non-court) according to Probate Code §16063 format; or (3) Court accounting according to Probate Code §1060 et. seq. requirements. The trust accounting…