There are times when a will is challenged in California. There are many reason why this happens and the law sets forth the procedures to follow in making a challenge. Some reasons a will may be challenged include:
The will is fraudulent.
The will wasn’t properly executed.
The person creating the will didn’t have the capacity to legally sign the will.
The person was unduly influenced into signing it.
The person challenging the will desires that a different personal representative be appointed by the court.
Challenging or contesting a will is not to be taken lightly. In order to prove that the will is invalid, one of these reasons must be proven in a court of law. The idea of simply challenging a will because you don’t like the contents may seem reasonable -- but if you can’t prove one of the above factors for invalidating it, you may very well be wasting your time and resources.
Irrevocable Trusts are created in two ways:
1. A revocable trust becomes irrevocable after the grantor has died.
2. An irrevocable trust is established while the grantor is living.
Some types of irrevocable trusts will help to save estate taxes, or provide liquidity for paying the taxes.
Self-settled irrevocable trusts will not generally provide asset protection in California.
Working with an estate planning attorney now can offer so much solace and support for your family and friends later. It truly is a gift that you can give your family that goes far beyond financial rewards.
For more information, contact Ted Hankin today.