Moravec Varga & Mooney

Short Answer For a vehicle worth more than $250,000, transferring title to a California trust can be an important estate-planning decision. The current vehicle title should identify the trust and the trustee or trustees in the new registered owner section, and the filing ordinarily includes the required signatures, transfer fees, and any applicable Statement of Facts (REG 256) submitted to the California Department of Motor Vehicles (DMV). A transfer into the owner’s own revo

Short Answer A credit shelter trust (CST), also called a bypass trust, uses a deceased spouse’s available estate tax exemption to support a surviving spouse and preserve assets for heirs, generally keeping properly structured trust assets outside the survivor’s taxable estate (Internal Revenue Code § 2010; § 2041). For California couples, the decision should balance inheritance goals, portability, tax consequences, and the restrictions the survivor can accept. Introduction: P

Short Answer A 5 by 5 power is trust language that can give a beneficiary an annual withdrawal right over the greater of $5,000 or 5% of the value of the assets from which the withdrawal may be satisfied. The name comes from federal tax law, not from a separate California “5 by 5 rule.” Under Internal Revenue Code sections 2041(b)(2) and 2514(e), the lapse of a qualifying power during a calendar year is treated as a release only to the extent the lapsed amount exceeds that pr

Short Answer To transfer California real estate into a living trust, the owner generally signs a new deed transferring title from the grantor to the trustee. The signature must be notarized, and the deed should be recorded in the property’s county, usually with a Preliminary Change of Ownership Report (PCOR). A correct transfer can support probate avoidance, but mortgage, tax, insurance, and title issues require review. Why the Deed Matters More Than the Trust Binder Creating

Short Answer A 401(k) or an IRA cannot be retitled into a trust the way a house or a bank account can. Instead, the account holder updates the beneficiary designation on file with the custodian and names a properly drafted trust, usually a see-through trust, as the recipient. Done correctly, this step keeps tax-deferred growth intact, satisfies IRS required minimum distribution rules, and routes retirement assets through the trust document instead of through intestate success

Short Answer In California, a living trust does not automatically disappear during a divorce. Instead, the court examines the trust assets and classifies them as community property or separate property. Assets acquired during the marriage are typically subject to a 50/50 split, while assets acquired before marriage, through inheritance, or by gift may remain separate. A revocable trust can often be modified or revoked, while an irrevocable trust is more difficult to change an

Short Answer Outdated living trusts often fail because life changes faster than the paperwork. The passage of time creates gaps that invite disputes, tax surprises, and accidental disinheritance. If your living trust is 10 years old (or a living trust is 20 years old), treat it as a red flag: plan for five-year revisions, review document language, confirm funding, and update trust terms so your current goals and beneficiaries stay protected. Introduction: A Living Trust Is No

Managing a trust involves more than simply following instructions in a legal document—it requires precision, responsibility, and...

Introduction One of the most frequent questions families face after the passing of a loved one is: Can a spouse change a trust after...

Introduction When it comes to asset protection and estate planning, two prominent tools often come up: the Limited Liability Company...

Short Answer: To set up an LLC with a trust, you’ll either (1) create a new LLC with your trust listed as the member or (2) transfer...

📌 Quick Answer: A third party special needs trust (SNT) is an estate planning tool used to hold and manage assets for a person with...

The Quick Answer: You Can Sue a Trustee for Breach of Fiduciary Duty, Mismanagement, Self-Dealing, Failure to Account, or Improper...

The Quick Answer: Bring Documents, Be Honest, and Focus on Your Goals To get the most out of a free consultation as a trust beneficiary,...

The Quick Answer: Property Deeds Are Public Records—And They Can Be Crucial Evidence in Trust Disputes If you’re involved in a trust...