A Will is the simplest of estate planning devices. A Will clearly states who shall inherit your assets at the time of your death. A Will can also be used to nominate guardians for any minor children. Finally, a Will can be used in conjunction with a living trust to “Pour over” any assets to a trust that were not included or added to the trust prior to death. You have the right to change or cancel a will during your life, upon death the terms become binding. In California, a Will must be administered through the probate court before any distribution to the heirs. A Will becomes public once probate proceedings are initiated.
The most common estate planning device. A living trust gives you complete control of your affairs during your life and makes your wishes clear. Upon death one or more people can act as set forth in the trust with no court proceedings.
Has a loved one died? Was there a trust that names you as the “Successor Trustee,” if so you may ask what do I do now? First be glad that your loved one has a trust, it makes resolving their affairs far simpler then without a will or trust. That said, there are things you need to do from contacting family and getting copies of the death certificate to canceling subscriptions and selling assets. We walk you through the process.
Probate is a court process used when a person dies without a trust. Probate can be inexpensive and streamlined in simple cases but can be time-consuming and expensive in large cases. We help with all the details.