Tag Archives: Carolyn M. Young

Common Terms Used When Handling Trusts

 

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Carolyn M. Young Fiduciary Services
Image: carolynmyoung.com

As president and owner of Carolyn M. Young Fiduciary Services, Ms. Young is responsible for administering trusts for her clients; she also serves as a conservator, executor, and guardian for clients’ financial and health care needs. Since 1986, Carolyn M. Young Fiduciary Services has served clients in the counties of El Dorado, Nevada, Placer, Sacramento, San Joaquin, and Yolo in California.

Below are a few of the common terms used when handling trusts.

Abatement: Abatement refers to the devaluation of a gift in a will resulting from an insufficiency of funds to cover all gifts once the estate’s legal obligations are paid in full.

Conservator: A conservator is a court-appointed individual or institution responsible for managing and caring for the property of someone who is incapable of caring for it himself or herself.

Escheat: In the event that there are no heirs or next of kin, an escheat is the reversion of property to the state. This originally was only applicable to real property but now includes all types of property.

Inter vivos trust: An inter vivos trust is one that is made by a living person. This can be done for a variety of reasons, including estate planning, asset protection, and to protect beneficiaries who may be undergoing personal difficulties.

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Juvenile Diabetes Research Foundation’s Ride to Cure Diabetes Event

Carolyn M. Young owns and operates Carolyn M. Young Fiduciary Services, headquartered in Sacramento, California. Aside from her responsibilities in providing fiduciary services to trust and estate clients, Carolyn M. Young actively supports the Juvenile Diabetes Research Foundation.

The Juvenile Diabetes Research Foundation (JDRF) is preparing to host its sixth and final Ride to Cure Diabetes Event for 2013, which is scheduled to take place November 21-24, 2013, in Tucson, Arizona. Now in its 30th year, the Tucson ride is part of the University Medical Center’s Tour de Tucson, recognized as one of the country’s premier bicycling events for people of all ages and fitness levels. The Ride to Cure Events are designed to help raise money to fund research and develop a cure for juvenile diabetes.

As the leading organization worldwide that raises funds for Type 1 diabetes research, the JDRF is dedicated to improving the lives of individuals living with the disease and to eradicating Type 1 diabetes. To date, the JDRF has raised more than $1.7 billion, granting more than $110 million for diabetes research in 2012 alone.

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Carolyn M. Young Fiduciary Services: A Socially Responsible Business

Currently responsible for the administration of more than $70 million in client assets, Carolyn M. Young Fiduciary Services represents the interests of clients gained through court appointment or other circumstances. A socially concerned businesswoman, owner Carolyn M. Young frequently elects to provide continuing pro bono fiduciary services when some clients no longer have available resources. These services include helping clients obtain qualified public assistance. In addition to her professional generosity, she and her family are active in supporting the Juvenile Diabetes Research Foundation.

In recent news, one area of research that the Juvenile Diabetes Research Foundation is drawing focus to is the prevention of type 1 diabetes, which is growing worldwide at an unprecedented rate. While the causes of type 1 diabetes are both genetic and environmental, current research has not yet established the exact contributors to a disease whose rate is doubling every 20 years. Since many affected by this condition are children between the ages of one and five, the need to support research in prevention is urgent.

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