FREQUENTLY ASKED QUESTIONS

DRAFT DOCUMENTS

 

I. GENERAL QUESTIONS:

1. Why do all the dates in my booklet read "zz," ?

2. If I buy a new house, how do I transfer it to my trust ?

II. TAB #2:

        WILL QUESTIONS

(Article Fifth)

3. What do the words "legatee, devisee or beneficiary" mean ? 

4. What does "serve without bond" mean ? What is a "bond" ? 

5. What is "non - trust property" ? 

6.  What is "probatable property" ? 

7. Why can my Executor "borrow money" on behalf of my estate ?

III. TAB #3:

     LIVING TRUST QUESTIONS:

8. What is the difference between the "Trustor" and the "Trustee" and the "Beneficiary" ?

9. What is Schedule "A" ? Where is it ?

10. How do I transfer assets into the Trust ?

11. How do I transfer assets into the Trust in the future ?

12. What is Quasi - Community Property?

Section 4.022 - Trust B Questions (Complex Trust)

Does This Section Apply to Me ?

13. What is a Disclaimer? (Section 4.022)

14. Please explain Section 4.022 - it's very confusing.

15. When do I put assets into the Trust B ?

16. How much do we put into Trust B ?

The following questions apply to all trusts:

17. What is "Invasion of Principal" ?  (Section 4.031)

18. What is a "Power of Appointment" ?

19. Why is the money left in the Trust until the beneficiary (child) reaches age 25?  Is the money available before my child turns 25 ?

20. Why are there so many powers listed in Article V ?

21. Does the Successor Trustee get paid ?  (Section 6.15)

22. What sort of compensation would the Successor Trustee get ?  (Section 6.15)

23. What do I do about my Personal Possessions ? (Article 10)

24.  Who gets what from my personal items ? (Article 10)

25. What do I do about my funeral arrangements ? (Article 10)

IV. TAB #4:

     HEALTH CARE QUESTIONS:

26. What does the Health Care Power of Attorney do ?

V. TAB #5:

     LIVING WILL QUESTIONS:

27. What does the "Living Will" do ?

28. Can my family "pull the plug" on me if I am in an auto accident ?

VI. TAB #6:

     NOMINATION OF CONSERVATOR QUESTIONS:

28.  What is the "Conservator" ?

VII. TAB #7:

PROPERTY POWER OF ATTORNEY QUESTIONS: (UNIFORM STATUTORY FORM POWER OF ATTORNEY)

24. What is the "Property Power of Attorney document ?

VIII. TAB #8:

EXTRACT OF TRUST QUESTIONS:

25. What is the "Extract of Trust" document ?

IX. TAB #9:

ASSIGNMENT OF PROPERTY QUESTIONS:

26. What does the "Assignment of Property" do ?

 

Any questions not listed here, please call me at (818) 244-1894 to get the answer.