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iNSUREDLA Blog

​WHAT IS LIVING PROBATE AKA CONSERVATORSHIP

4/29/2020

 
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Living Probate occurs when you become incapacitated and can't make decisions for yourself. You may be declared incompetent in court and anyone, even a stranger, can be appointed to take care of your property and person. The person appointed as Conservator might not be your spouse or even one of your children.
Court hearings are necessary to establish a Conservator. They are public, time consuming, costly, and agonizing for all. The Conservator must regularly report to the court.
How can you guard against Living Probate?
♦  Make a decision to set up the necessary forms while you are able to.
♦  Establish Powers of Attorney and Nomination of Conservator.
♦  A good Living Trust package will have these necessary documents.
​

WHAT IS A LIVING TRUST? DO I NEED A LIVING TRUST?

4/20/2020

 
​WHAT IS A TRUST AND DO I NEED IT?
A Living Trust is a simple, inexpensive legal alternative that eliminates the costs and delays of probate and ensures that your loved ones will receive their inheritance promptly and exactly as you intended.

The Living Trust : The Failproof Way to Pass Along Your Estate to Your Heirs
• The Living Trust makes the old-fashioned will obsolete
• Includes information on the estate tax, the gift, and the generation-skipping tax
• Eliminates estate-devouring probate charges and attorneys' fees
• Guarantees a timely distribution of funds to your heirs
 to decide and is a very public process.
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​• Assures that no one may contest or overturn your wishes regarding disposition of your estate
• Shows how to protect your business, savings, and retirement from frivolous lawsuits
• Legally valid in all fifty states

​You may think your heirs have been well provided for, but did you know that:
• Your loved ones may have to wait more than two years before receiving a penny from your estate- even though you left a legally valid will?
• Costs of probating your will may eat up more than 10 percent of your estate- money your heirs will never receive?
• The specific instructions of your bequest may be contested or changed completely- even though clearly spelled out in your will?
• A will cannot help you in life. If you become incapacitated or your judgment comes into question, it becomes a matter for the courts

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​Shekhar Chikhalikar, Esq
​
​Text or Call: 7175InsLaw
Email: Shekhar@iNSUREDLA.com

​21021 Devonshire Street, Suite 202
Chatsworth, CA 91311


LIC#: 4004589   
​SBN#: 2497088​

DISCLAIMER::​ iNSUREDLA is an information only website about Estate Planning, Insurance and Real Estate issues in California. It does not provide any services, nor does it do business under the name of iNSUREDLA. iNSUREDLA's owner and proprietor, Shekhar Chikhalikar, is both a lawyer and P&C insurance agent and can be contacted directly to help you with whatever your insurance or legal situation may be. Not all services mentioned on this website are provided by Shekhar. He will recommend you the best in the field as per your needs.


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  • Home
  • Legal
    • Trusts and Estates >
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      • Trusts
      • Healthcare Documents
      • Special Needs Trusts
      • Medi-cal Trusts
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      • Conservatorships and Guardianships
      • Businesses
      • Estate Planning FAQs
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