The most common example I hear is when people talk about wanting to name an ‘executor of my trust.’ The law has different names for different fiduciaries, who is the person that is named to ‘be in charge’ through an estate planning document.
LOS ANGELES (PRWEB) December 12, 2019
“So, What’s Your Problem?,” on 790 KABC, is hosted by Stan Katzer. The show features guest professionals, such as Tyre, who offer intelligent advice and have a laugh along the way. During his segment, Tyre answered questions concerning living trusts, wills, probate court, trust administration, conservatorships, and more. “Tony is a very formidable attorney,” said Katzer.
In addition to appearing on “So, What’s Your Problem?,” Tyre recently wrote an article entitled “Executor of My Trust.” Most of the time, Tyre’s clients become unclear about using the proper legal terms in estate planning.
“The terms are confusing,” he writes. “The most common example I hear is when
people talk about wanting to name an ‘executor of my trust.’ However, this is not quite the proper term that should be used. The law has different names for different fiduciaries, who is the person that is named to ‘be in charge’ through an estate planning document.”
The following is a simple list of terms to help clarify:
- A “trustee” is the person who manages a living trust for another person or another person’s estate.
- An “executor” is the person who administers a last will and testament for a decedent.
- An “attorney-in-fact” is the person who manages financial matters for another person through a durable power of attorney.
- A health care “agent” makes health care decisions for another person through an advance health care directive.
About Tony J. Tyre, Law Offices of Tony J. Tyre, Esq., APC.
Tony J. Tyre is a highly respected estate planning attorney throughout California. He is a member of the State Bar of California and the U.S. District Court, Central District of California. The Law Offices of Tony J. Tyre, Esq., APC is dedicated to fulfilling all of the estate planning drafting and estate and trust administration needs of its clients. For more information, call (626) 858-9378, or visit http://www.tyrelawgroup.com. The law offices are located at 100 S Citrus Ave., Suite 101, Covina, CA 91723 and 5703 Temple City Blvd., Temple City, CA 91780.
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