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This week, Sacramento estate planning attorney Kay Brooks answers readers questions in the Sacramento Bee column “Ask the Experts.”

Q: I have a rental property valued at $265,000, the mortgage balance is $151,000 at 5.75%. I’m considering a loan to pay off this balance from my father’s living trust account, which is in excess of $400,000. I am the sole heir and these funds are just sitting in money market accounts making .25%! I would set up documents for the loan for tax purposes pay the monthly interest to my father’s account at 2.00% with a 5-year payback schedule. If my father passed, how would these funds $151,000 which would be outside the trust be viewed by the IRS? Is there an amount of money that can be outside the trust without being subject to probate or tax? – Walt, Sacramento, CA

To read Kay Brooks answer, visit the Ask the Expert column here on the Sacbee.com

This week, Sacramento estate planning attorney Kay Brooks answers readers questions in the Sacramento Bee column “Ask the Experts.”

Q: My boyfriend and I recently purchased a vacation home. For now, the title is held in joint tenancy because we could not come to an agreement as to what would be the fairest thing to do if one of us should die. We both have living trusts set up where each of our assets are transferred into upon death. The problem is that my boyfriend wants his son to inherit his half of the property after he dies.

I see potential problems in having to share ownership with his son. What if something happens to him and he needs money? Can he force me to sell the house or buy him out? I don’t think it’s fair to me that the son would be entitled to assets from the property just because he is kin. I would be the one paying the mortgage and keeping up with the maintenance. I am fine with leaving my half to my boyfriend, but he wants to revisit the lawyer in a few years and change the trusts so that his son has a stake in the house.

Can you offer any solutions so that both parties are satisfied? I should mention that the son is currently 17 years old and my boyfriend is 20 years my senior. Thank you for your time.

To read Kay Brooks answer, visit the Ask the Expert column here on the Sacbee.com

This week, Sacramento estate planning attorney Kay Brooks answers readers questions in the Sacramento Bee column “Ask the Experts.”

Q. I noticed that an earlier Bee column stated that $1,500 – $4,500 is the going rate for a will and trust; however, I have family members that claim that they have attorneys that can do it for as little as $750. Why the huge difference? – Bryan, Sacramento, CA

To read Kay Brooks answer, visit the Ask the Expert column here on the Sacbee.com.

Getting a living trust is on many people’s “must-do” lists. But what a living trust covers and how much it costs can be unknowns.

Here with some explanations is Sacramento estate planning attorney Kay Brooks with Weintraub Tobin Chediak Coleman Grodin Law Corp. She’s one of our local “Ask the Experts” panelists, who answer readers’ questions at www.sacbee.com/personalfinanceblog. That’s where you’ll find more of her advice, as well as tips from our other local experts on taxes, investing and personal finances.

Q: Approximately how much would I pay for a living trust, if my only asset is a duplex?

A: To read Kay Brooks’ answer, visit the Ask the Experts here on Sacbee.com.

The co-founder of Weintraub Tobin Chediak Coleman Grodin is re-branding himself as Joe The Mediator. Click above to view the full story.

The San Francisco Daily Journal addresses the merger between Weintraub Genshlea Chediak and Weissmann Wolff Bergman Coleman Grodin, LLP in this article, dated July 9, 2012.

SACRAMENTO / SAN FRANCISCO / LOS ANGELES, July 6, 2012 – Weintraub Genshlea Chediak Tobin & Tobin Law Corporation and Weissmann Wolff Bergman Coleman Grodin LLP have jointly announced the merger of their respective business and entertainment law firms. The combined firm, named Weintraub Tobin Chediak Coleman Grodin Law Corporation, which will be known as Weintraub Tobin, will have more than 70 attorneys in offices in Sacramento, San Francisco and Los Angeles. In addition to the expanded focus on entertainment and its convergence with technology and finance, key practice areas include corporate, banking, securities, employment, litigation and dispute resolution, intellectual property, tax, trusts and estate planning, real estate and bankruptcy.

“After our successful expansion in the San Francisco market with the merger of Tobin & Tobin late last year, we turned our eyes toward Los Angeles and found a firm that mirrors our culture and complements our specialty practice areas,” said Michael Kvarme, Weintraub Tobin’s managing shareholder. “The combination with Weissmann Wolff offers clients a fully integrated team of business attorneys that are held in high esteem by the entertainment industry. In addition, with our expanded and solid presence throughout California, we are large enough to offer superior depth and breadth of expertise but small enough to enable efficiencies and flexibility that ultimately benefit all clients.”

“The combined capabilities and expanded services of the firm benefit our clients in that we now have a larger geographical reach and further depth in meeting all of their business needs. The firm’s outstanding attorneys offer a broad range of business and litigation services that will ideally complement our entertainment focus,” said Marvin Gelfand, managing partner for Weissmann Wolff.

The Los Angeles Office will continue to advise its entertainment industry clients across film, television, animation, videogames, digital media and publishing including Scholastic, Random House, Warner Bros., NBC/Universal, Doug Liman (Director: Mr. and Mrs. Smith, The Bourne Identity; Executive Producer: Covert Affairs, Suits), Jan DeBont (Director: Speed, Twister), Diane Lane, Cheech Marin and Tracey Ullman, to name a few. Via the San Francisco Office, entertainment clients will have access to the legal expertise and relationships established with leading technology groups.

With offices in Sacramento, San Francisco and Los Angeles, Weintraub Tobin pledges to be an innovative provider of sophisticated legal services to dynamic businesses and business owners, as well as non-profits and individuals with litigation, business and entertainment needs. The firm will continue its long-time and strong support of the communities in which its attorneys live and work.

This week, Sacramento estate planning attorney Kay Brooks answers readers questions in the Sacramento Bee column “Ask the Experts.”

Q: I have a common situation, but with an interesting twist. I am 87, have enough money to live on but am not rich (about $300,000 or so), and get Social Security. I live in California with my granddaughter, but I also have a house in Croatia where I visit part of each year. I have a Totten trust on most of my funds and so if not for the house in Croatia I don’t think I’d even need a probate. How do I pass on my house in Croatia? Do I need a will here or a will in Croatia? Can I set up a trust in California? Is this something that I need a lawyer for in California, in Croatia, or both? Thanks for your help. – Tom; Sacramento, CA

To read Kay Brooks answer, visit the Ask the Expert column here on the Sacbee.com.

Q: My wife and I have a safe-deposit box. After we are gone, will our kids have any problem getting into the box? I’ve heard that banks refuse to give children (access) until certain requirements are met.

A: To read Kay Brooks’ answer, visit the Ask the Experts column here on Sacbee.com.