What does Notary mean?

Americans, on the whole, notarize billions of documents every year, and every exchange is an achievement minute for somebody.

So I don't get the meaning, to have a report authenticated? It's something other than an extravagant elastic stamp.

What is the importance of notary?

It's essential that everybody confides in the credibility of authoritative reports. When buying a home or building up the intensity of lawyer, clearness, and assurance are not things you can make sense of later.

A notary official open is an open authority selected by a state government to help deflect extortion. Notary officials witness the marking of essential records and check the character of the signer(s), their eagerness to sign the documents, and their consciousness of the substance of the report or exchange.

Organizations depend upon notarize documents so they may have full confidence in critical records. After seeing a marking, a notary official applies their own subtleties, for example, their mark, seal, and public accountant commission subtleties. When you look at a notary official's seal on a report, it implies a notary official confirmed that the document is real and legitimately executed.

Having a document legally approved is equivalent to swearing under vow in an official courtroom—you are stating that the actualities contained in the documents are valid.

The most important reason for getting documents notarized is that having a record authenticated is an obstruction to misrepresentation. Getting documents notarized includes a layer of confirmation that "the general population who marked the record are the general population they state they are." 

Notarization not just makes it almost sure that signers are who they state they are yet, besides, is compulsory in a few states for specific reasons, for example, deeds, contracts, easements, forces of lawyer and living wills.

Having certain papers legally notarized likewise is vital when question are prosecuted; oaths, which are sworn explanations, won't be considered by a court except if they are authenticated.

Legally notarized documents likewise are viewed as self-validating, which implies the underwriters don't have to affirm in court to check the genuineness of their marks.

For further Information regarding Notary, you may get in contact with Notary in San Bernardino- Law Office of Michael C. Maddux who is a specialized team in all attorney services.

All together for a notary official to authorizing a document, the individual whose mark is being authenticated must sign the record in the public accountant's quality. The individual can't sign the document early and after that convey it to the notary official. In a few expresses, the notary official must indicate how the individual in question distinguished the underwriters to the record (e.g., the endorser introduced a picture ID, the public accountant definitely knew the endorsers).

 

Each state decides whether a notary official must oversee a promise to report underwriters. While there is no recommended dialect, the vow, by and large, incorporates dialect requiring the endorser to swear or assert that announcements contained in the understanding are valid.

If you are in need of getting any document notarized and help needed regarding notarization, you may contact Notary in San Bernardino- Law Office of Michael C. Maddux as they are fully experienced and try to resolve their client's all queries.

 

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Responsibilities of a Trustee

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Trust

It is a legal relationship where one party owns the property for giving the benefits to another party. The person who is creating the trust is referred as the “Settlor,” “Grantor” or “Trustor.” The Trustor gives the property to the trustee. The Trustee holds the legal title to the trust property. Trust has two categories – testamentary or living trusts.

A Testamentary trust comes into action when the will’s creator, known as Testator is no more. A living trust comes into action when the trustor is alive and holds all the assets and beneficiaries; everything is transferred to family members and loved ones only after his death. A living trust has 2 categories – irrevocable and revocable trust.

 

One of the most crucial things about comprehensive estate planning is Trust. Whether you’re choosing to create a testamentary trust or a living trust, one thing you should take care while creating your trust is - having a Trustee. A common mistake everybody do while appointing a trustee is selecting a loved one without noticing his/her capabilities. A law Probate in Riverside County may help you in deciding the Trustee for your trust who can administer your trust proficiently.

 

Trustee – Duties & Responsibilities

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The Trustee of trust has to manage invests and administers the trust according to terms formed by Trustor. A Trustor often appoints a Trustee who doesn’t have a clear understanding of the numerous duties and responsibilities that he has to follow:

  • Manage and protect the assets – Trust assets can include anything that is valuable. The Trustee is the only person responsible for managing everything related to the trust.
  • Surviving with trust terms – the Trustee is bounded within the terms of trust except they are illegal, impossible, or wrong.
  • Honor the purpose of trust – Most trusts state the need and purpose of creating it. The Trustee should respect the purpose of the trust while taking any decision.
  • Use “Prudent Investor Standard” – all the investments done by a Trustee should be made by keeping in mind the “Prudent Investor Standard” which means guarding the trust while keeping in mind the risks and ways to achieve and overcome it.
  • Keeping the Trust beneficiary informed of trust business – A Trustee had to stay informed its trust about the company on a regular basis and respond to them on a daily basis, discussing their queries and doubts.
  • Disagreement of decision – disputes among the beneficiaries may happen at some point. The Trustee should stay neutral in the arguments and try to resolve the conflicts before it could it rise. If the trust has future beneficiaries, then the decision on the dispute should be taken while considering all the positive and negative aspects in mind.
  • Making Flexible choices – A Trustee has the power and authority of taking flexible decisions related to investment or disbursements. While using this authority, a Trustee should be guided by the top interests of the beneficiaries.
  • Preparing and Paying Trust taxes – trust is a different legal entity. As such, a trust pays tax. A Trustee must complete all the tax return for the trust every year and makes sure that every tax on behalf of trust is paid on time.

If you’re having additional concerns or questions related to the choice of Trustee for your trust, contact the knowledgeable probate in Riverside County  from the Law Office of Michael. C. Maddux. Also, you can schedule an appointment for meeting us.

 

For more information, contact Probate Attorney in San Bernardino.

Have You Taken Your Long-Term Care Insurance?

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Long-term care planning is something we think of when we start getting older. You know that we need insurance and plans in place for when we can’t take of ourselves and need assistance in our day-to-day life. If you are not having any protection related to your health than you may face elder abuse by your loved ones or caretakers.

Many people don’t prefer having any long-term care plans as they think their families can take care of them or they feel they have enough assets to keep them above water level. They’ll be safe without care plans, but it’s not true.

 You cannot help yourself when you don’t have any rescue plans. Think of care-plans to safeguard your family from any twisted situation. If you find anything wrong happening with you, contact Elder Abuse Attorney in San Bernardino for your help.

Is a long-term plan essential?

With the rising costs of the insurance and care, it’s getting necessary to have insurance and plan for your needs in the future. Long-term care is something very vital and becoming an essential part of our lives as compared to past. It protects your assets by giving you financial support in the future when you need the most.

Long-term care insurance is something most of the people don’t want, but it’s likely to be used at some point. The cost of a nursing home is expected to be more than your insurance price per year. Your family may not bear such a significant amount, so it’s better to have insurance plans for covering yourself with the costs of your accommodation. Even in an assisted-living facility, the expenses are very high.

In case you need nursing home temporarily for recovering any of your surgeries or illness or any injury, Medicare provides you 100 days covering. However, it doesn’t offer with the help for nursing homes or in-home help unless you have no savings.

Why is long-term care insurance right choice for you?

You should take care of a few things including what you are worth and the odds of having long-term care insurance. According to statistics, around 70% of Americans need long-term care when they reach the age of 65, so the likelihood is you’ll too need it. If you are earning more than net-worth of buying long-term care insurance, then you should go for it as it will not affect your savings. But if you don’t have more than $2000 in your savings than relying on Medicaid is fine.

Finally, go through your family tree. If others too have ended up having long-term care insurance than you too should have it, you may need it in future. Health and longevity both are important, but having a longer life means you rely more on care insurance.

If you’re facing any elder abuse or need any legal help in keeping you safe from wrong treatment than you can freely contact the Law Office of Michael. C. Maddux and talk to Elder Abuse Attorney in San Bernardino. You can also take advice regarding your legal issues or elder abuse.

Revocable or Irrevocable Trust: What’s the difference?

We all are aware of trusts and wills. But do you know anything about irrevocable or revocable trust? If your answer is no then let's discuss these terms in this blog, and if your answer is you are aware but don’t know much about it then you will have the knowledge after reading this blog.

After knowing the terms, you’ll be able to decide which term is beneficial for your family and estate. A person faces many ups and downs in life including family and financial changes, and these changes have both good and adverse impact on your estate plan. So, which type of the trust best fits your estate and asset planning depends on you as you move forward in life.

 Irrevocable Trust

When a person gives his will to the beneficiary, and still he can make changes in the provided will, this is an irrevocable trust.

Irrevocable trust and Thing to consider:

Pros:

  1. It ensures will goes to the decided person or organization and no one can unnecessary control your decision later.
  2. Irrevocable trust gives a secure way to avoid certain probate and taxes.
  3. An irrevocable trust keeps a person safe from taking any decision in the case of Alzheimer’s or dementia.
  4. It follows the family security as nobody can take advantage of surviving spouse for changing the trust.

Cons:

  1. Changes cannot be done easily in the trust.
  2. For changing your current trustee, you have to get through the court process.
  3. If you are changing the trustee after funding, you have to go through a court process with the presence of all the beneficiaries.

Your trust should include the events that can happen in your life like you want to add the name of the born child in the trust, or what happens when anyone passes away. So, time and thought should be provided for all the possible events, like the birth or death of anyone in the family and plans should be available for all the possibilities.

Revocable trust

Revocable trust is when a person can make changes in the will, whenever he wants.

Pros:

  1. You can do any changes whenever you want.
  2. If anyone dies or born unexpectedly, then you can make adjustments accordingly.

Cons:

  1. It does not save you from taxes.
  2. You may change the name of a beneficiary in case of memory loss that you would not do if you were fine.
  3. It allows the surviving spouse to make changes in the trust and disinherit other beneficiaries from the trust.

 

 

You should consider all the concerns while doing estate and trust planning for your family. By doing perfect planning, you are making a right decision for your family. Michael. C. Maddux can assist you in the process of your estate planning. Click on the link and get more information about the Real Estate Litigation in Inland Empire. It is necessary to consider all the options while doing estate planning and take decision according to the concerns needs. The Law office is happy to help you in completing your trust that meets your particular situation.

Rules to avoid Litigation in your business

f:id:madduxlaw:20180725163514j:plainMisunderstandings can arise anytime in your business especially when you are running a very successful company. So to manage disputes proper litigation is necessary.

However, if you can adequately control the disputes; there is no need for litigation. There are many reasons for avoiding litigation in a business. A lawsuit should be handled correctly as they can create adverse effects on the company’s reputation. 

So, to avoid all the issues, that can bring unfavorable results to your company, you can go with these rules to avoid litigation. These points will help you stay out of the court.

  1. Control the money

Several times it has been observed that business owners involve strangers in control of their money. They provide finances and chequebooks; often offer authority of signature to the third parties. These third parties may do the day-to-day operation of the money and business. They know your money very well. This may sound dull, but you must check your finances weekly or monthly, ask your accountant to generate the information related to expenses, budgets, and accounts. Don’t replace yourself with the third party to stay away from your responsibilities.

 

  1. Stay with your agreements or contracts

Once you are done with the drafts of contracts or agreements, stay with them. While your business is in good condition, racing forward with the time, and you are making lots of money, it’s easy to go with unclear decisions. These unclear decisions may affect your business severely. As soon as you see things changing rapidly with your unclear contracts, stop right there. Amend the contract and agreement or draft a new one, this will save you from unfavorable results.

  1. Clarify business terms

Never start your business on a handshake or don’t allow someone to take advantage of your old-friendship into your business. The business should start with the mutual honesty. Clarify all the business terms, objectives and every possible aspect before starting your partnership. Then, have an experienced attorney and let him know every term so that he can mention in a legal and understandable contract that have actual and reliable language.

  1. Go with Calendar

Use your calendar to set the goals. It should have every objective and set your milestones. You can start with month-by-month or quarter-by-quarter information to reach your objectives.

  1. Discuss with your committed people

Sit with your trusted people; dedicate your time in explaining each detail about those goals and objectives and have a general agreement. Also, you can have the information related to their shares and company details so you can have enough details about their business.

Planning is a calculated and disciplined practice. It goes with your scheduled calendar, commitments, terms, objective, and no out of context agreements. Even if you are forced to litigate at any point, then these terms and legal documents will conclude in your favor. If you need any help with business litigation issue, contact Probate Attorney in San Bernardino : Michael C Maddux 

Complete Guide - Revocable Living Trust

Generally, most of the people have confusions about Will & Living Trusts. If you discuss with living trust attorney, you can get a clear picture of all those things correlated with these things. In this article, you will find some of the basic yet crucial details a living trust attorney may provide for a Revocable Living Trust, with the motive of asset protection:

Protecting Resources

A revocable living trust is an indispensable and valuable estate planning tool. Contrary to conventional opinions, you don’t need to be excessively wealthy to get support from a revocable living trust. These trusts can fulfill several different estate planning goals, but a revocable living trust is not the only solution. You can terminate the trust any time, and it will no longer endure. The property that you carried into the trust will become your direct personal property once again.

The individual who creates the trust is termed as the grantor of the trust. A beneficiary is an individual who receives financial distributions from the trust. And, the trustee is called as the trust administrator. Being a grantor of a revocable living trust, you will be treated as the beneficiary and trustee while you are well or alive. As you manage the operations of the trust while you are well and living, you have the authority of revocation. However, a revocable trust does not render asset protection from litigants seeking redress. Michael C Maddux can help you with Real Estate Litigation in Inland Empire.

Advantages of Revocable Living Trusts

You may be wondering why you would want to make a revocable living trust if it doesn't protect your assets. One advantage that you obtain when you create a revocable living trust is the authority to designate a disability trustee.

Many oldies become unable to manage all of their assets at some point in their lives. If you designate a trustee in your declaration, this person will be authorized to manage your trust in the case of your incapacitation.

Another advantage is to add the ability to add conditions that the trustee will be enforced to obey according to the nature of the asset distributions. You do not need to allow for all of the assets to be shared in lump sums. It will be possible to let the trustee buy the assets, and the profits will be allocated to the recipients over an extended period.

To know more about Revocable Living Trusts, Trust Litigation Will Contest San Bernardino County, contact Michael C. Maddux.

Why Should You Hire Probate Attorney in San Bernardino, California?

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Most of us look for the Surrogate’s Court for assistance after any close one passes away. If the case is complicated or the estate is ample, the clerk always directs them to contact a probate attorney. For the small estate, you can often proceed yourself, but you can face various difficulties in legal processes.

To help you know why a probate attorney may be essential for a successful presidency, you really need to ask yourself: What does a probate attorney usually do? Before you hire a solicitor, you need to understand why you need a probate attorney in San Bernardino, California as opposed to a general lawyer.

If you aim to legally administer an estate or manage the validity of a Will, here are some of the most significant things about the California probate attorney that you should know:

Critical Roles of a Probate Attorney in San Bernardino, California  

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Aside from legal action, some of the assistance you should expect from your probate lawyer is as follows:

  • File tax returns.
  • Distribute of proceeds to heirs.
  • Secure life insurance proceeds.
  • Defend against the Will Contest.
  • Assure the sale of real estate.
  • Determine all assets of the dead person.
  • Retain assessment services for real estate.
  • Prepare the accounting of all assets and expenses.
  • Negotiate and settle conflicts with heirs, executors, and administrators.
  • Retain appraisal services for personal property of the estate.
  • Transfer the financial accounts of decedents into an estate bank account.
  • File all required papers for your appointment as the administrator or executor.
  • Dispute or negotiate claims which are made against the property by creditors of the deceased.

Pitfalls that Must be Avoided  

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Every general lawyer in San Bernardino will like to be selected by you to manage the estate? Why? Since the fees correlated with an estate concern can be high. Though, choosing a general practice may be easier for you.  However, hiring a probate lawyer without any past experience is usually a very bad idea. So, always understand your goals and make sure that the attorney you hire is experienced with relevant stuff.

If you would to discuss anything about Trust Litigation, Will Contest, or Living Will; call Law Office of Michael C. Maddux and make an appointment.

1894 Commercenter Dr W. Suite 108

San Bernardino, CA

92408909-890-2350

www.madduxlaw.com