What Happens to a Trust After Death? Why It Matters for Taxes When someone passes away, their revocable living trust usually becomes irrevocable. At that point, the trust becomes its own taxpayer—and that comes with important tax implications. One of the most surprising? Trusts are taxed much more quickly than individuals. In fact,…
How to Update Your Estate Plan After Losing Your Home in a Fire The recent fires in Los Angeles have left many families facing unimaginable challenges. For those who have lost their homes, recovery often begins with rebuilding and navigating insurance claims. However, it’s also important to assess the impact…
Understanding the Differences Between Revocable and Irrevocable Trusts in California When it comes to estate planning in California, deciding between a revocable trust and an irrevocable trust depends on the specific needs and goals of the settlor. Each type of trust serves different purposes and offers unique benefits. Here, we…
