Conover & Grebe, llp

Call For A Personal Consultation with an Attorney Today
310-776-9028

Wills and trusts important in estate planning in California

Clarity is what one should aim for when planning an estate. Lack of clarity in estate planning can result in future legal problems for intended beneficiaries. This can require significant amounts of time and resources being spent in a prolonged probate court proceeding in California. Therefore, it is essential that people have their wills and trusts in place as soon as possible.

A probate process will include examining one's testamentary will. This is a legal instrument used in transferring assets in one's estate. It is also utilized to appoint guardians for one's minor children, as well as select an executor of a person's will. A will can also set up trusts for the benefit of surviving heirs.

On the other hand, trusts can also play a vital role in planning for estate administration. A trust is a legal entity which maintains ownership of property and assets. A person or entity will be named the trustee and will be in charge of controlling the distribution of assets held in the trust. The trustee will administer assets according to the terms detailed in the mandates of the trust document, which should be customized to the trustor's wishes.

However, before creating wills and trusts, people will need to understand the laws regulating these documents in California. This knowledge will ensure a person's will and trust are legally enforceable. Also, there are a variety of other estate planning documents, such as a power-of-attorney, that one should consider as part of a complete estate plan.

Source: investopedia.com, "Will vs. Trust -- The Difference Between The Two", Matthew Jarrell, May 13, 2015

No Comments

Leave a comment
Comment Information
Email Us For A Response

Get Started

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

3424 W. Carson Street
Suite 320
Torrance, CA 90503

Toll Free: 866-661-9751
Phone: 310-776-9028
Fax: 310-542-1588
Torrance Law Office Map

Anaheim Hills Office
155 N. Riverview Dr., Ste. 207
Anaheim Hills, CA 92808

Toll Free: 866-661-9751
Phone: 310-776-9028
Anaheim Hills Law Office Map