Answering Often-Asked Questions About Estate And Litigation
For more than a decade, the Law Offices of Russell M. Ozawa has helped clients throughout Southern California who are navigating the complex legal system. Known for being friendly yet professional, attorney Russell M. Ozawa takes the time to answer your questions about probate, wills, trusts, trust administration and other related matters. As soon as you start to have concerns, it is in your best interest to get advice from an experienced lawyer. To schedule a free consultation, call Russell’s office in Pasadena at 424-396-2178 today. You can also fill out this online contact form. He serves clients in Los Angeles and Orange counties.
What Is Probate?
Probate is a process where the court decides if the will that exists is valid. It also is a time to figure out who the decedent’s heirs are and determine how much the decedent’s property is worth. Furthermore, it is when the executor must take care of any remaining financial responsibilities and transfer any property to the rightful beneficiaries. If an executor is not appointed by the deceased person, the court will appoint one.
How Long Does Probate Take?
The estate administration process varies based on the person. Generally, probate can take between nine months and one-and-a-half years. In some situations, it could take longer.
How Will An Estate Plan Benefit My Family?
An estate plan comprises legal documents to clearly express your wishes about your choice of medical treatment while you are alive, but become incapacitated and to appoint a trusted agent to manage your business affairs for you. An estate plan also includes a will and may include a trust, depending on your circumstances. In your will, you appoint someone you can rely on to be the executor of your estate to attend to your final debts, taxes and to distribute your assets according to your instructions. If you have children, you may also nominate a guardian for their care in your will. Establishing a trust can benefit you in several ways while you are alive and safeguard your legacy when you are no longer around to provide for your family or charitable organization.
Do I Need A Trust?
There are many different types of trusts. Each person has unique needs, and attorney Russell M. Ozawa can discuss the specifics of your situation and help you understand the benefits of creating a revocable trust, irrevocable trust, special needs trust or charitable trust, for example.
I Am A Beneficiary Of A Trust. What Do I Need To Know?
You have several rights and responsibilities as a beneficiary. You have the right to receive a copy of the trust, accounting information and notice of the existence of a trust. You also can enforce the terms of the trust in order to hold the trustee accountable. This prevents people from committing any wrongful acts or omissions.