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Estate Planning Lawyer 765 N. Main Street, #124 Corona, CA 92880 (951) 582-3800 |
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I need best Estate Planning Lawyers near 92881. Can I put my house in trust to avoid care home fees? You cannot deliberately look to avoid care fees by gifting your property or putting a house in trust to avoid care home fees. This is known as deprivation of assets. Suppose the decedent owned an account that named a beneficiary (such as a retirement account), but the beneficiary has passed away before the account owner. Can you buy a house and put it in a trust? When you buy a home, you may have the option of buying it in a trust. Legally, that means the trust, rather than you, owns the home. However, you can be the trustee of the property and have significant control over it and what happens to it after you die. I need amazing estate planning lawyer by 92881. How long can a house stay in a trust after death? A trust can remain open for up to 21 years after the death of anyone living at the time the trust is created, but most trusts end when the trustor dies and the assets are distributed immediately. What is the difference between Chapter 7 and Chapter 13? The biggest difference between Chapter 7 and Chapter 13 is that Chapter 7 focuses on discharging (getting rid of) unsecured debt such as credit cards, personal loans and medical bills while Chapter 13 allows you to catch up on secured debts like your home or your car while also discharging unsecured debt. How do trusts work when someone dies? If a successor trustee is named in a trust, then that person would become the trustee upon the death of the current trustee. At that point, everything in the trust might be distributed and the trust itself terminated, or it might continue for a number of years. What type of trust is a special disability trust? A Special Disability Trust is a trust established primarily for succession planning by parents and immediate family members for the current and future care and accommodation needs of a person with a severe disability or medical condition. In addition, having a living trust provides for a faster transfer of assets to your heirs, and those assets will be distributed in private.
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