William Richardson Christian’s Answers

William Richardson Christian

Los Angeles Estate Planning Attorney.

Contributor Level 12
  1. My parents established a revocable living trust in california. my question is regarding community property.

    Answered over 1 year ago.

    1. William Richardson Christian
    2. Michael Raymond Daymude
    3. James P. Frederick
    3 lawyer answers

    Not necessarily. It depends on how the trust is drafted and how the trustee decides to fund the subtrusts. Often the allocation can be done on a non proportionate basis. For example, I could allocate a home worth $500,000 to the Survivors Trust and cash of $500,000 to the residual trust if equal division is required. You also need to be careful how you attempt to quantify what goes into each trust. It may not be a 50-50 split. You need more information on the trust itself, an estate tax...

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  2. My grandmother in her will left an apartment complex to

    Answered about 1 year ago.

    1. William Richardson Christian
    2. Paul A. Smolinski
    3. Christine James
    3 lawyer answers

    If your mothers estate was probated and an order on final distribution recorded, this would transfer her interest in the chain of title to her beneficiaries. If you were that beneficairy, you may already hold the interest. The title policy should reflect where you are. If you are not shown as the owner of record of her interest, you need to engage counsel ( and perhaps the attorney who handled the probate would be the first choice).

    9 lawyers agreed with this answer

  3. Is the interest from a trust, community property in California?

    Answered almost 2 years ago.

    1. William Richardson Christian
    2. Eric Jerome Gold
    3. James P. Frederick
    3 lawyer answers

    Property received by inheritance or gift is your separate property. You may have to keep it segregated to keep it that way and avoid it being commingled and therefore presumed community. From your description it appears the property is still in the trust. Thus your segregation requirements should begin upon distribution.

    8 lawyers agreed with this answer

  4. If my husband and I are both gone, we would like to give our friends guardianship of our son and assets. What do we need to do?

    Answered 11 months ago.

    1. William Richardson Christian
    2. Stephen K. Lehnardt
    3. Stephen Ross Cohen
    3 lawyer answers

    Engage an estate planning attorney to assist you in the preparation of wills and /or a living trust. These are elements of any comprehensive estate plan. I would be happy to assist or you can consider hiring other counsel with a specialization in estate planning.

    7 lawyers agreed with this answer

  5. Using annual exclusion limits to gift LLC interests to children via UTMA

    Answered over 1 year ago.

    1. Joseph Michael Pankowski Jr
    2. Charles Adam Shultz
    3. Eric Jerome Gold
    4. William Richardson Christian
    4 lawyer answers

    I agree with the other responding counsel that this is not a do it yourself project. Use of a CUTMA structure does not automatically make the interest transferred a "present interest" which would qualify for the annual exclusion. You need a properly structured Operating Agreement. This is also impacted by the nature pf the porperty transferred and the management structure of the entity. You won't find an appropriate Operating Agreement on legal zoom or the internet. These are crafted...

    7 lawyers agreed with this answer

  6. Can a sibling not raised in a family inherit upon the death of the father?

    Answered almost 2 years ago.

    1. Michael Raymond Daymude
    2. William Richardson Christian
    3. Pamela Janet Ross
    4. James P. Frederick
    4 lawyer answers

    The fact that she was raised by grandparents does not change her status as a child of the decedent. She should be included. This might change if she was legally adopted by the grandparents. Bill C

    7 lawyers agreed with this answer

  7. My husband has agreed to give me $4million in trust upon his death. The trust has not been funded at this time. How can he fund

    Answered 8 months ago.

    1. William Richardson Christian
    2. Michael Leo Potter
    3. Christopher B. Johnson
    4. Robert Jan Suhajda
    5. Michael Raymond Daymude
    5 lawyer answers

    While life insurance could work, your husband has to be insurable and willing to pay the premiums. He could set up an irrevocabl;e trust now, but presumably the present value of the 4 million would be what is transferred in. If he promised to do this at death, the present transfer into a trust, or directly to you, is a different animal that what he stated he was willing to do. To do a transfer now, he has to be willing to do it. The other alternative is to include provisions in his will or...

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  8. A/B Trust. What happens when first spouse dies and B trust isn't funded. If the name of the trust was, e.g.

    Answered almost 2 years ago.

    1. Mary Lynn Symons
    2. Joseph Franklin Pippen Jr.
    3. William Richardson Christian
    4. Matthew Erik Johnson
    5. James P. Frederick
    5 lawyer answers

    Unfortunately this is a very common occurance. Since the trust required the diivision, failure to do so is a breach of the fiduciary duty of the trustee. It can, however, be fixed. The assets in the estate as of the date of death must be specificaly identified. The proper termnology in the trust must be analized to assure how the division is directed. There is flexibility in most circumstances in selecting assets that would go into the two trusts. The transfers are then made as soon as possible....

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  9. Would I be required to go to probate court if my husband left me his income property to pay off credit debt & overdue utilities?

    Answered about 1 year ago.

    1. Stuart Gregory Steingraber
    2. Brian Crozier Whitaker
    3. William Richardson Christian
    4. Charles Adam Shultz
    5. Gregory Paul Benton
    6. ···
    6 lawyer answers

    Probate is to transfer title to you. You will have to go through probate or some type of shorter process with the court (like a spousal property petition). See an estate planning attorney for help. You will need to transfer title to rent it, to sell it or to refinance it. Feel free to call me if you have questions. I live in Covina.

    6 lawyers agreed with this answer

  10. Is there a statute of limitations to probate a Will in California? My father died in July 2009.

    Answered about 1 year ago.

    1. William Richardson Christian
    2. Charles Adam Shultz
    3. James P. Frederick
    3 lawyer answers

    If he owns property where you need to clear title, it is not to late to probate the will. You should be aware, however, of the California Probate Code provisons that protect a pretermitted spouse. See California Probate Code Section 21610. If he was not married to the present wife and did marry her after the will, but before death, she is likely to have rights to some portion of the property under California law anyway. Seek counsel with a probate attorney.

    6 lawyers agreed with this answer