Wills And Trusts To Protect You And Your Loved Ones

Planning for the future and the unknown can be an uncomfortable but necessary part of life. It is important that you take steps toward protecting your property, assets, and wishes in the event that you are unable to communicate your needs and wants due to a lack of capacity or death.

At The Law Office of Stuart A. McKenzie, I provide compassionate and tailored guidance to Californians in a range of estate planning matters, including the establishment of wills and trusts. For more information or to schedule an appointment to discuss your situation, contact my law firm today.

Why A Will Is Necessary

A will is a document that can be created in order to explicitly state what you wish to happen to your estate. That is, who gets what. By specifying which beneficiaries will receive portions of the estate in a will, the dispute over assets may be minimized.

What Trusts Accomplish

In many cases, a trust may be more appropriate to protect a client’s assets and property. It is possible for a trust to be connected to a will or to stand on its own. I handle the establishment of various types of trusts for clients, including living, revocable, and special needs trusts. Trusts can be used for a variety of goals, including:

Avoiding probate
Eliminating or minimizing estate taxes
Designating assets for children from a previous marriage
Supplementing the care of a special needs child
Establishing charitable contributions from your estate

Frequently Asked Questions About Wills And Trusts

Estate planning raises important questions for many families in Orange County. Here are some of the most common questions I hear from clients:

Can a Trust protect my assets from probate if I don’t “fund” it?

No. A trust only protects assets that you transfer into it. Creating a trust document is just the first step. It’s necessary to “fund” the trust by retitling real estate, bank accounts and investments into the trust’s name. Failure to do so will keep those assets in your individual name, which means they will go through probate when you die. An unfunded trust offers no probate protection and defeats one of the primary purposes of creating a trust in the first place.

What is a Pour-Over Will and do I need one if I have a Trust?

A pour-over will acts as a safety net for your trust. It allows assets you own in your individual name at death to “pour over” into your trust. Even if you diligently fund your trust, you might acquire new assets and forget to transfer them, or you might receive an inheritance or lawsuit settlement shortly before you die. A pour-over will guarantees that these assets reach your trust and get distributed according to your trust’s terms. While the pour-over process still requires probate for those individual assets, it prevents them from passing under California’s default intestacy laws and keeps your overall estate plan intact.

How often should I update my Will or Trust in Orange County?

You should revisit your estate documents every three to five years and after any significant life event. Events like getting married, going through a divorce, welcoming children or grandchildren, experiencing major financial changes, relocating to another state or facing new tax legislation all call for revisions to your will or trust. Both California statutes and federal tax codes evolve over time, meaning an estate plan that fit your needs years ago may no longer provide optimal protection or benefits. Consistent reviews keep your documents aligned with your current intentions and help you capitalize on updated planning strategies.

What happens if I become incapacitated and do not have an estate plan?

Without an estate plan, your family will likely need to petition the court to appoint a conservator to manage your finances and make decisions on your behalf. This conservatorship process is public, expensive, time-consuming and gives a judge, and not your family, the final say over who manages your affairs. The court may appoint someone you wouldn’t have chosen. A comprehensive estate plan that includes a durable power of attorney and an advanced health care directive allows you to name the people you trust to make financial and medical decisions if you become incapacitated, avoiding court intervention entirely.

Schedule A Consultation

For more information about wills, trusts or any other estate planning issues, contact me online or call 714-975-8396. I will meet with you, review your estate and determine how to best plan for the future and preserve your legacy for future generations.

I represent clients throughout Orange County and Southern California in communities such as Anaheim, Irvine, Tustin, Newport Beach, Santa Ana, Westminster, Fountain Valley, Garden Grove and Costa Mesa.