Estate Plans & Living Trusts

Every adult should make a Will to appoint an Executor to handle his or her financial affairs at death, including collecting a final paycheck, filing tax returns, and collecting property of the estate to transfer to a trust or the beneficiaries named in the Will.

A Will also appoints a Guardian to take custody of minor children and their inheritances.

Revocable Trusts are used to take property out of a person's "probate estate" so the beneficiaries don't have to wait for a probate court to approve distributions.  

While Trusts still remain the most popular estate planning tool in California, we can present clients with practical and effective alternatives that don't require a fiduciary to transfer the estate. 

An Advance Health Care Directive is essential to select the best person to make important health care decisions when needed.  

This document also tells the person selected as health care agent what they need to know when making serious health care decisions and overseeing pain management.  

A Durable Power of Attorney (DPOA) appoints a person you trust to deal with your property and financial affairs.  The attorney-in-fact must follow your instructions and act in your best interests.  A DPOA can ensure that absence, illness, or severe injury won't create an obstacle to concluding any transaction or completing important paperwork if you become unavailable or unable to manage such responsibilities.

Business owners need to make sure that there is a plan of succession in place.  

One way to transfer business interests at death is by assigning them to a revocable trust.  Another way to ensure a smooth leadership transition is to adopt a Transfer-on-Death registration policy for the business interests.

In 2016, California began to recognize the Revocable Transfer-on-Death Deed as an estate planning tool.    

A TOD Deed takes effect at a person's death and has no effect on property taxes.  If you plan to name an adult to receive your real property when you die, a TOD Deed is an excellent tool.  Unlike a Revocable Trust, a TOD Deed transfers property without any action by a trustee and without delay.