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Trusts and Wills in Irvine, CA

Have you been pushing off creating a trust and will because you don’t want to think about growing older? Unfortunately, you cannot stop the aging process, but you can be prepared by having an estate plan in place. Trusts and wills are more than estate planning tools. They empower Irvine residents by allowing them to determine who will care for their minor children and receive their assets when they pass away.

Our Irvine trust and will lawyer can go over your situation during a free strategy session. Then, you can take the next step in building an estate plan to protect your interests today and in the future.

Reasons Trusts and Wills Are Important

Creating a will and trust is normally the first step in building a comprehensive estate plan. You can use these tools to:
  • Choose someone to manage your property if you become incapacitated.
  • Select someone to care for minor children and pets.
  • Protect your assets.
  • Select your beneficiaries.

What Does A Will Do?

A last will and testament allows you to choose beneficiaries for your real and personal property. While many people choose to leave their property to family members, you can also leave assets to charitable organizations and others. You can also name a guardian for your minor children and pets when drafting a will. Your Irvine trust and will lawyer will explain all of your options.

Once you have a will, you won’t have to worry about dying intestate. This is the legal term used when people pass away without a will. When it happens, the court uses the state’s inheritance laws to distribute property. As you can imagine, this can make an already difficult situation even harder for your family. Ensure this won’t happen to your estate by contacting our Irvine trust and will attorney today.

Trusts In Irvine, CA

You can also add a revocable or irrevocable trust to your estate plan. With a revocable trust, you maintain power and control over the property inside of the trust. You can choose to sell or refinance the property, and you have the option to terminate the trust if you wish.

Your Irvine trust and will lawyer can also help you create and fund an irrevocable trust. In most states, irrevocable trusts cannot be modified or revoked, but California law is a bit different. If the trustee and beneficiaries agree to the changes, you can revoke or modify the trust. Otherwise, it must stay the same as long as it’s in effect.

You will move the property outside of your estate with an irrevocable trust. Thus, many people create it to protect assets or lower the value of the estate as part of their long-term care planning strategy.

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Modifying Or Revoking A Will

While many people think a will is written in stone, that is not the case. You can modify, update, or change it as often as you want during your life. Your Irvine trust and will lawyer can help you conduct an annual review to see if you need any changes. Then, the attorney can modify your existing will or revoke it before creating a new one. With regular reviews and modifications, you can ensure that your last will and testament contains the information needed to honor your wishes after you pass away.

What Happens If You Become Incapacitated?

When you create a revocable trust, you’ll name a successor trustee. This person will take over the management of the trust if you become incapacitated. Your Irvine trust and will lawyer can guide you when picking a successor trustee. Then, the successor trustee’s information will be included when setting up the trust.

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