Archives for December 2023

Decanting a Trust in California

If you are interested in a trust as an estate planning tool, you may have heard the word “decanting” and wondered what it means and why you might need it as a strategy. 

What does decanting mean?

  • The word “decanting” traces its roots to winery, where a person would decant a wine by pouring it from it’s bottle into another container.
  • Similarly, a 2019 California law allows you to change the terms of an irrevocable trust by “pouring” trust assets from an old trust instrument into a new trust.  
  • This helps you to leave behind the unwanted terms of the old trust, just as you would leave behind the impurities in the wine. 

What law changed the rules for trust decanting? 

  • The California Uniform Trust Decanting Act became effective January 1, 2019. 
  • Before this change, modifying an irrevocable trust was difficult, but now decanting provides an easier way to modify an irrevocable trust. 

How is decanting accomplished?

  • In general, you must still notify trust beneficiaries of the proposed changes and allow them the opportunity to object to the changes. 
  • You must also stay within the limits of which the trust terms can be changed, which depend on the Trustee’s authority in the original trust. 
  • For example, you might want to eliminate beneficiaries, but you wouldn’t be allowed to use this rule to increase Trustee compensation. 

Contact an Experienced Estate Planning Attorney

There are pros and cons to decanting, and it needs to be accomplished properly. At the Law Office of David Knecht, we make it our business to stay current on regulatory changes that impact estate planning. We will customize a plan to help you find creative solutions to meet your estate planning goals, and we will work with you to keep your plan up-to-date and responsive to regulatory changes. Contact us today at 707-451-4502. 

Filed Under: Estate Planning, Estates

Navigating Divorce During the Holidays: How to Help Your Kids

Whether you are in the middle or a divorce or whether it is now final, the holidays can be a difficult time for the children, and statistics have shown that divorce can be challenging for children emotionally.

This article will share strategies for how a parent can support children emotionally during the holidays to create new happy memories and traditions.

Be more generous and compromising than usual. 

  • We celebrate good will during the holidays, and this provides an opportunity for you to be more compromising with your ex than usual. 
  • Try to be flexible in scheduling so that the children can have contact with both parents. 
  • Avoid putting children in a bind where they feel they have to be loyal to one parent or the other. 
  • Cultivate a mindset of positivity during this time, so that actions from the other parent do not ruin your own mood, so that you can create positivity for your children.
  • Be positive about the other parent’s gifts and events.   

Plan ahead. 

  • Planning in advance is key to creating a positive holiday experience. 
  • Schedule in advance so that you can prepare your children with proper expectations. 
  • Work with the other parent on the gifts so that there are not duplicates. 
  • Avoid competing for gifts by perhaps coordinating with the other parent on a potential budget if the other parent is open to that idea. 

Communicate with your children. 

  • Communication is key with children of all ages. 
  • Discuss with your children some of their hopes or goals for the holidays. 
  • Include your children in the planning. 
  • Brainstorm ideas with your children on how to think of others during the holiday season. 
  • Perhaps even help your children plan a gift for the other parent. 

Contact an Experienced Divorce Attorney

At the Law Office of David Knecht, we understand the challenges that divorced families face, and we can help you with any aspect of your family law case. Contact us today at 707-451-4502. 



Filed Under: Divorce Advice

Divorce and Holidays: How to Help Yourself Enjoy the Season

The holidays are supposed to be a time of celebration, but they can be a challenging trigger if you are going through a divorce. There is no time of year where self-care is more important than the holiday season, and if you have children, see our companion article to this one about helping your children successfully navigate the holidays as well.

This article will suggest ideas originally shared in a post on PsychologyToday.com to help you take back the power and enjoy the season in spite of the challenges you face, and the memories that may be painful. 

Recognize your emotions and talk them out. 

  • Accept your feelings and do not feel like you have to bear them alone. Find a family member, friend or therapist to listen to you and provide support. 

Make a plan and do not isolate yourself. 

  • If you do not have your children, find something to do that will make you happy. Volunteer at a homeless shelter, support a charity, or donate your time or money to a cause. Devoting yourself to others and being busy in something bigger than yourself will help you heal. 

 Put your legal process aside, if possible. 

  • The legal battles of a divorce can be a heavy weight, so if possible lay this burden down for the holidays and pick it back up again in January.

 

 Focus on health. 

  • Taking care of your body will help you take care of your soul. Eat good foods, take a walk, dance around the living room. Avoid drowning your sorrows in alcohol, drugs or other behaviors that might temporarily numb your pain, but ultimately not give you lasting satisfaction.

 Consider your purpose. 

  • The holidays are a good time to reflect on family and friends and to ponder what your purpose is in life. Take time to think long term and set goals and hopes for your post-divorce life. 

Contact an Experienced Estate Divorce Attorney

Self-care is essential during the divorce litigation and after the divorce is final. At the Law Office of David Knecht, we understand the stress and concern that a divorce can bring to the parties and the families, and we want to help you successfully navigate this challenging time in your life. We have helped thousands of clients, and we want to be here for you. Contact us today at 707-451-4502. 

Filed Under: Divorce Advice