Someone has just died
and you don't know what to do.
There is little that needs to be done
with respect to a person's estate immediately following
death. In the first days attend to family matters, memorial
services, and other personal matters. The only helpful
step at this point is to order from the mortuary a sufficient
number of death certificates (usually a minimum of six
depending on the situation). Following these first days,
if you are the person who will be administering the estate,
you should locate important documents (Will, Living Trust,
deeds, etc.) and consult an attorney to find out what
happens next. Depending on the assets owned and whether
the person died with a Will, Living Trust, or no estate
documents the
administration after death will vary. Cornell
Law Firm can meet with you to assess the situation and
advise you on how to proceed.
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You need a Will or
Living Trust but are just too busy to deal with it.
Cornell Law Firm is geared toward coming to your location.
That means we come to your home or place of business for
an initial interview which typically takes about an hour.
We then prepare your Will, Living Trust, and other documents
and call you in about a week to ten days to set up an
appointment to execute them at your location. Our initial
consultation at your location within the San Gabriel Valley
is free.
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You have a Living Trust
or Will and you need to change it.
In most cases both can be amended or replaced. Regardless
of who drafted your current Will or Living Trust, Cornell
Law Firm can amend it. If you need your Will or Living
Trust changed or replaced, call us to set up an appointment
during which we can interview you regarding your circumstances
and review your prior documents.
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You and your spouse
have a Living Trust and your spouse has died.
It is very important that an attorney review your trust
when your spouse has died. Living Trusts are commonly
sold on the false promise that there is nothing that needs
to be done following death. This is incorrect. Depending
on the trust and circumstances, often important real property
documents need to be prepared and recorded, tax matters
must be settled shortly after death, and important legal
notices may be necessary. In many husband and wife trusts
it is necessary to allocate assets between trusts. What
may be required in your situation can only be determined
after review of the documents. Cornell Law Firm can talk
with you about your situation, review your documents,
and let you know what needs to be done next.
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Someone has died without
a Will or Living Trust leaving property that needs to
be transferred.
With certain exceptions for estates of small value, the
property will need to be probated. Cornell Law Firm routinely
handles such matters and can review your situation and
represent you with respect to probate proceedings.
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Someone close to you
is having significant health problems and may need help
with their care.
If the person has a Living Trust or has designated a
Power of Attorney, it may be possible to operate under
those documents to meet their needs. If they do not, but
they still have the capacity to create a Living Trust
or Power of Attorney, it may be advisable to create such
documents. In circumstances where a person lacks capacity
and has no Living Trust or Power of Attorney, a conservatorship
may be necessary.
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The creator of a Living
Trust has died and you are named as the new (successor)
trustee.
It is very important that an attorney review the trust.
A successor trustee is liable for his or her actions taken
under the trust. In addition to clearing title to real
property, paying debts and taxes, providing required legal
notices, and accomplishing distribution according to the
terms of the trust, a trustee is often required to prepare
accountings, defend or pursue lawsuits, and settle disputes
regarding the decedent's trust. What may be required in
your situation can only be determined after review of
the documents and an interview about your circumstances.
Cornell Law Firm can talk with you about your situation,
review the documents, and let you know what needs to be
done next.
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You have a substantial
estate and are concerned about estate taxes.
Nothing is sure but death and taxes. Well, maybe. In
husband and wife situations, trusts can provide substantial
estate tax savings if properly drafted and funded. In
addition, charitable giving, annual exclusion giving,
and educational and medical payments, among others, may
provide substantial tax advantages on death. Your tax
situation is unique, particular to your circumstances
and desires, and needs to be reviewed individually. We
can review your situation and advise you on what tax savings
vehicles are available to you.
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You have a child with
special needs and want to provide for him or her without
losing government assistance.
It is very important for parents with special needs children
to consult an experienced estate planning attorney. Outright
gifts to a special needs child on the death of a parent
can disqualify the child from receiving government benefits
and can cause significant disruption in the child's life.
Parents with special needs children can avoid these problems
with a properly drafted Special Needs Trust. Cornell Law
Firm can prepare a Special Needs Trust and otherwise advise
you concerning what lies ahead for your child when you
die.
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