California Estate Planning

It depends on your assets, family circumstances, and goals. A will can direct how certain property should be distributed and can nominate an executor and guardians for minor children. A living trust can provide additional management during incapacity and may allow properly funded assets to pass to beneficiaries without a full probate proceeding. Many California estate plans use both a trust and a pour-over will. California Courts notes that a properly funded living trust can help a home pass without probate court.

Often, yes. Assets held in a properly funded living trust generally can pass without probate. Other assets may pass through beneficiary designations, payable-on-death arrangements, joint ownership, or other nonprobate transfer methods. California also recognizes certain revocable transfer-on-death deeds for qualifying real property.

A complete estate plan often includes a will, financial power of attorney, advance health care directive, and, when appropriate, a revocable living trust. The appropriate documents depend on the individual. California Courts specifically identifies powers of attorney and advance health care directives as important tools for planning for incapacity.

Choose someone who is trustworthy, responsible, organized, and willing to serve. The person who is best suited to manage financial matters may not always be the same person you would choose to make health care decisions. It is also wise to name alternates in case your first choice cannot serve.

Without advance planning, family members may have difficulty managing your finances or making health care decisions on your behalf. A durable power of attorney can authorize someone to handle designated financial matters, while an advance health care directive can identify the person you want making medical decisions and describe your health care wishes.

Not automatically. A trust generally controls only assets that have actually been transferred to or otherwise properly connected with the trust. If significant assets remain outside the trust and do not have another valid nonprobate transfer mechanism, probate may still be necessary. This is why funding and maintaining a trust can be just as important as signing the trust document itself.

Sometimes. California provides simplified procedures for certain smaller estates. For example, qualifying successors may be able to use a small-estate affidavit to collect certain personal property when the estate falls within the applicable statutory limit. The limits and requirements can change, so families should confirm the rules that apply at the time of death.

There is no single required schedule, but it is wise to review your plan periodically and after significant life changes. Marriage, divorce, the birth of a child or grandchild, a death in the family, major changes in wealth, buying or selling real estate, moving, or changes in your chosen decision-makers can all justify a review.

California provides some statutory forms, and individuals can prepare certain estate planning documents themselves. But estate planning documents can have significant legal and financial consequences, and California Courts specifically notes that these documents are important to get right and that legal review can be helpful.

Begin by identifying what you own, how your assets are titled, who you want to benefit, and whom you trust to make financial and health care decisions if you cannot act for yourself. Then consider meeting with a California estate planning attorney who can help you determine which documents and strategies fit your particular family and goals.