Most estate plans involve more than one document. Although most people think of a will as the baseline for their individual estate plan, you might also need other documents and tools to address wealth planning, asset protection planning, or healthcare concerns.
If you’ve already created a living trust to help accomplish your estate planning goals, this is an important and good step in the right direction. However, it may not fully accomplish all of the intentions that you have with no will present. Creating a will with the assistance of a Pasadena estate planning attorney can help cover these additional bases. Even if you already have a living trust, you probably also need a will. Your will is designed to help streamline estate administration when you pass away and impacts any assets that are titled in your name at the time of your death and those assets that are not placed into your living trust.
If you already created a living trust with the help of a California estate planner, you may want to include a pour over provision in your will. This simply states that all assets should be transferred to the trustee of your living trust after you pass away. You can also use a will to nominate guardians for your minor children, but any assets that you’ve moved into the living trust for the benefit of your children in the future would still need to be managed by the trustee of your living trust.
For more information about how to create a comprehensive estate plan and to be sure that all of your estate plan components are working together, communicate with our Pasadena lawyers now.
