 
Did a relative or loved one pass away and leave property to you or your children? Did they leave a will or trust naming you as trustee or a beneficiary? Are you uncertain as to your duties as a trustee or your rights as a beneficiary? If so, San Diego Law Firm can help. San Diego Law Firm has adopted a quick and resolute approach to identifying our clients needs and executing a tactical plan that ensures our clients will receive what is rightfully theirs. Our attorneys have experience in these matters and have successfully prosecuted many inheritance cases.
Our expertise focuses primarily on partitions of real property, trust litigation, trust administration, probate of wills, and conservatorship and guardianship cases. If you believe that you are entitled to a portion of an estate, do not delay in contacting us as you do not want the estate assets to be pilfered or misappropriated. At San Diego Law Firm, we are dedicated to ensuring that our clients are being informed and properly represented. If you, or those you know, are involved in an inheritance situation, please do not hesitate to contact us so that we may assist you in that matter. 
|
|
Kristi Simon joined San Diego Law Firm as a part-time assistant in January 2001 while attending San Diego State University. Kristi graduated from SDSU in December 2004 with a B.A. in Business, emphasis in Finance. After graduation, Kristi was promoted to a full time position as Firm Manager. She is now responsible for handling all office operations. Kristi also assisted Bill Simon and Tom Parashos in completing the recent addition and renovations to our current Lemon Grove office. Kristi works very hard to ensure that San Diego Law Firm is operating efficiently and to maintain a friendly and comfortable office environment. In her free time, Kristi enjoys spending time with friends and family, beach trips, camping, new movies, and experimenting with new restaurants. Kristi is certainly an integral part of San Diego Law Firm's continued success. We are very fortunate to have her as part of our growing and innovative legal team. The next time you are in the office, be sure to say hello to Kristi Simon.
|
|
FDIC Insurance For Revocable Trusts
In 2004, the Federal Deposit Insurance Corporation (FDIC) put in place new rules for insurance coverage of living trust accounts in FDIC-insured institutions. A living trust, sometimes called a family trust, is a formal revocable trust. Its owner specifies who will receive the trust assets when the owner dies. During his or her lifetime, the owner, also known as a grantor or settlor, maintains control of the trust assets and has the power to make changes in the trust.
The owner of a living trust account is insured up to $100,000 per beneficiary if each of the following three requirements is met:
- The beneficiary must be the owner's spouse, child, grandchild, parent, or sibling. Not every relative qualifies. For example, cousins, nieces, and nephews do not qualify, but stepparents, stepchildren, and adopted children do.
- The beneficiary must become entitled to his or her interest in the trust when the owner dies. FDIC insurance coverage would be based on the beneficiaries who satisfy this requirement as of the time when a bank fails.
- The title of the account at the bank must indicate, with terms such as "living trust" or "family trust," that the account is held by a trust.
While insurance coverage is based on the actual interests of each beneficiary, the FDIC will assume that the beneficiaries have equal interests in the trust account unless the trust states otherwise. By way of a simple example, if a father has a living trust leaving all of the trust assets equally to his three children, the account would be insured up to $300,000. The total coverage consists of $100,000 for each of the three qualifying beneficiaries, who would become owners of the trust when their father dies.
|
| | |
|
|
Back To Main Newsletter Page
1
2 3
|
|
San Diego Law Firm
San Diego office: 2828 University Avenue, Suite 102, San Diego CA 91945
Carmel Valley office: 12707 High Bluff Drive, Suite 200, San Diego, CA 92130
Terms of Use Privacy
Policy
© 2001, 2006 San Diego Law Firm ALL RIGHTS RESERVED.
Law Firm Website by LawMarkets.com;
Website design by
|
