WHAT HAPPENS IF I PASS AWAY & MY CHILDREN ARE MINORS?

Your children will go to a guardian. A guardian is an adult who will take care of your children when they are minors, under the age of majority, when both their parents are deceased. If you do not nominate a person, the Probate court will appoint someone to be the guardian of your children and their estate. A nomination of a guardian can be named in your Last Will and Testament or in a separate document so the Probate court is aware of your choices.

There are two (2) types of guardians: guardian of the person and a guardian of the estate. They can be the same person or different people. You determine who will be in charge of your child and their estate. The Probate court will grant the guardianship according to your wishes or according to the laws of the state of California if your wishes are unknown.

Note: The above is general information and you should consult with an attorney to answer your personal questions and to have your estate plan drafted.

DOES A TRUST AVOID PROBATE ON OUT-OF-STATE REALTY?

Yes. You can avoid probate on out-of-state realty by transferring those properties into your California trust. For example, if you own land in Arizona and New York, you can avoid probate in both Arizona and New York by transferring these out-of-state assets into your California trust.

Each state has their own laws regarding transferring property into and out of trust. You may need to consult an attorney in the state where you own real property to determine the best course of action.

Please feel free to set up a conference with us to discuss your estate planning needs regarding your assets in and outside the state of California.

Note: The above is general information and you should consult with an attorney to answer your personal questions and to have your estate plan drafted or reviewed.

WHAT HAPPENS TO MY PROPERTY IF I DIE WITHOUT A WILL OR A TRUST?

If you die without a will and/or trust, a probate would need to be opened if your estate’s assets are over a certain dollar amount without a beneficiary named on those assets. Your estate’s assets include all of your personal and real property.

California law will determine where your estate assets will go upon your passing. It is best to create a will and/or trust to express your intentions for how you want your property to be distributed.

Our office can help you with a probate, trust administration, drafting a will and/or trust. Please feel free to call us at (619) 588-2828.

Note: The above is general information and you should consult with an attorney to answer your personal questions and to have your estate plan drafted.