Sirkin Law Trust Estate Probate Litigation Attorney

Why is Special Needs Trust Administration Important in the San Fernando Valley? Management of a Disabled Person's Funds

Administration Of Special Needs Trusts in the San Fernando Valley

Do you need special advice about the management and administration of a special needs trust in the San Fernando Valley?  Our lawyers have over 27 years of experience advising trustees about special needs trust administration. Mina N. Sirkin advises residents of San Fernando Valley who are normally Special Needs Trust parents and grandparents about the details of administration and planning for a special needs trust in the San Fernando Valley.

Special Needs Trust administration is very important because the trustee has a fiduciary duty owed to the beneficiary and must exercise complete loyalty to the beneficiary, along with the exercise of discretion in spending.  Mistakes in how the money is expended can not only result in liability, but can result in the loss of government benefits.

Top 10 Tips in Administering Special Needs Trusts:

1. Set up a Trust file, and read it several times.
2. Create a trust inventory.
3. Carry adequate insurance.
4. Contact a financial advisor who is familiar with the Prudent Investor Rule.
5. Have an accountant do your accounting.  Have him/her set up a quarterly upload of the trust's financial statements so you do not have to rush at the end of the year, or at the time of accounting.
6. Communicate with the beneficiary, if possible.  If a beneficiary cannot communicate, talk to caregivers, conservators and other family members to get updates of on how the beneficiary is doing at least once every two months. 

Attorney Mina N. Sirkin has helped thousands of San Fernando Valley residents in administering special trusts.  Ms. Sirkin is a California Board Certified as a Specialist attorney in Trust law by the State Bar of California and regularly writes about special needs trusts administration and formation.  Contact: 818.340.4479 and [email protected]

Do you need special advice about the management and administration of a special needs trust in the San Fernando Valley?  Our lawyers have over 27 years of experience advising trustees about special needs trust administration. Mina N. Sirkin advises residents of San Fernando Valley who are normally Special Needs Trust parents and grandparents about the details of administration and planning for a special needs trust in the San Fernando Valley.

Special Needs Trust administration is very important because the trustee has a fiduciary duty owed to the beneficiary and must exercise complete loyalty to the beneficiary, along with the exercise of discretion in spending.  Mistakes in how the money is expended can not only result in liability, but can result in the loss of government benefits.

Top 10 Tips in Administering Special Needs Trusts:

1. Set up a Trust file, and read it several times.
2. Create a trust inventory.
3. Carry adequate insurance.
4. Contact a financial advisor who is familiar with the Prudent Investor Rule.
5. Have an accountant do your accounting.  Have him/her set up a quarterly upload of the trust's financial statements so you do not have to rush at the end of the year, or at the time of accounting.
6. Communicate with the beneficiary, if possible.  If a beneficiary cannot communicate, talk to caregivers, conservators and other family members to get updates of on how the beneficiary is doing at least once every two months. 

Attorney Mina N. Sirkin has helped thousands of San Fernando Valley residents in administering special trusts.  Ms. Sirkin is a California Board Certified as a Specialist attorney in Trust law by the State Bar of California and regularly writes about special needs trusts administration and formation.  Contact: 818.340.4479 and [email protected]

Do you Have Questions About Wills Trusts & Probate in Los Angeles? San Fernando Valley

Frequently Asked Questions about Wills, Trusts & Probate

• By: Mina N. Sirkin
• Certified Specialist Estate Planning Lawyer Los Angeles
• Sirkin Law Group, P.C.
• 21550 Oxnard St. #300
• Woodland Hills, CA 91367
• 818-340-4479
• Email: [email protected]
• http://LosAngelesProbateLawyer.com

What happens if you die without a will?

• In California, if you die without a will, you are said to have died intestate.
• California has a set of default rules for who gets the estate if there is no will.
• Generally, as to community property, the surviving spouse gets 100% of the community property if there is no will in California.
• As to separate property, the children and spouse share it depending on whether there are any children, and the number of children.

The Default Estate- No will

Community Property: 100% to Spouse, or  Registered Domestic Partner, if any.

Separate Property:

If there are no children, the spouse (Domestic Partner) gets it.

If there are children, ½ to spouse, and ½ if only one child. If more than one child, then 1/3 to spouse and 2/3 split among the children.

What is the Cost of Probate Administration in Los Angeles

• Generally, there are several categories of fees and costs.
• Statutory Fees and for Personal Representative and for the Attorney for the Personal Representative
• Extra-ordinary Fees for Personal Representative and his/her lawyer.
• Bond (if not waived)
• Filing Fees for Petitions
• Probate Referee’s Appraisal Fees
• Miscellaneous Costs of Letters and Certified Orders
• Translation of California Statutory Fees

Estate Size            Statutory Fees for Each Personal

                                  Representative and his/her attorney

$100,000              $4,000

$200,000              $7,000 

$500,000             $13,000

$800,000            $19,000

$1,000,000        $23,000

$2,000,000       $33,000 

$3,000,000      $43,000

How long does it take to close a probate estate in Los Angeles?

• A nice probate without any litigation in Los Angeles can take about a year.
• Most cases take somewhere between 1-2 years to complete.
• Complications can happen when there are undiscovered assets or assets which have escheated to the State of California or other states.
• What if there is not enough money to pay cash gifts in a will?
• Cash gifts usually get paid first before the residue.
• If there is no residue, and the cash gifts exceed the size of the estate, the cash gifts get reduced (called abated.

What happens if the deceased left more than one will?

• If the decedent left more than one will, generally, there is a presumption that the last one governs, unless:
• You can show there was fraud, duress, mistake, undue influence, or lack of capacity at the time of execution of the will.
• In that case, there will be a will contest and the court will set the case for a trial as to which will is valid.

What are the best ways to prevent
gold diggers from getting to your trust assets?

• Preventing undue influence can be effectuated by:
• Naming a Professional Fiduciary as Successor Trustee
• Setting up an automatic change in the trustee to a professional, once trustor reaches a particular age
• Creating an Exclusive Method of Revocation for the Trust.
• Creating an Exclusive Method of withdrawal and transfer of property from the Trust.

About Mina Sirkin, Los Angeles Probate Lawyer

• Mina N. Sirkin has been practicing probate law in Los Angeles County since 1992.
• Ms. Sirkin is a Board Certified Specialist in Probate, Estate Planning, and Trust Law in California.
• Frequent Media Expert on Estate and Conservatorship Cases in Los Angeles
• Appeared on CNN, CNBC, Inside Edition, RollingStone.com, KCET, NPR News

Estate & Trust Attorneys in San Fernando Valley California Probate Litigation

Estate & Trust Attorneys in San Fernando Valley California Probate Litigation

Sirkin & Sirkin, Estate & Trust Attorneys whose office is located in the San Fernando Valley advise clients regarding the California Probate Litigation procedures.   Our firm has been located in Woodland Hills, California since 1993 and is dedicated to the efficient resolution of probate and trust litigation matters.

Our Certified Specialist Attorney, Mina Sirkin, is a Los Angeles Probate Attorney, who is certified in Probate, Trust and Estate law.  We can assist you in determining the best avenue to protect your inheritance.   If you have been disinherited and seek to obtain your rights as a beneficiary or heir, we can guide you in fact finding to determine if there has been any undue influence or fraud by others.   If you need a San Fernando Valley Probate Attorney, you can count on us to provide you with superior service in this area.

When filing contested Estate & Trust matters in the San Fernando Valley, contact ourlawyers and Estate & Trust Attorneys in San Fernando Valley who are experts in California Probate Litigation. Estate & Trust Attorneys in San Fernando Valley California Probate Litigation Contact us at: 818-340-4479 or by email at [email protected]. 

 

Trust Litigation Los Angeles San Fernando Elder Law Attorneys

Trust Litigation Los Angeles San Fernando Elder Law Attorneys

Litigating Trust matters and Elder Law often mix.  Our Los Angeles trust litigation attorneys in San Fernando Valley and Los Angeles offices can advise you you in the following areas:

1.  Determination of validity of a any trust or estate instrument prepared by an elderly.

2.  Obtaining trust and estate beneficiary's rights in elder law and trust litigation matters.

3.   Mediation and Litigation of disputes between beneficiaries competing for the same interest in the trust or estate.

4.  Spousal interests in life insurance, IRA and other non-probate matters.

5.  Obtaining trust documents and compelling an accounting by a trustee.

6.    Elder Law and Financial Abuse litigation involving a person over 65 years of age.

Ask our San Fernando Valley Trust Litigation Attorneys to advise you of your rights in collecting your full inheritance.   San Fernando Valley Ca Trust Litigation Lawyers, Sirkin & Sirkin can help you in litigating your trust matters.

Mina Sirkin is a Trust Litigation Attorney in our Los Angeles, San Fernando Valley, Woodland Hills Ca offices.  Our Woodland Hills / San Fernando Valley lawyers and attorneys serve all Los Angeles County probate courts.  Ms. Sirkin is a California Certified Specialist Attorney in Probate, Estate Planning and Trust Law by the State Bar of California and an expert elder law attorney.  Call us at 818-340-4479.