Trustee
The person who manages a trust.
Estate planning, plainly explained
Start with the questions you have.
You do not need to know the vocabulary before your first meeting. You only need a picture of the people and things you want to protect.
Three parts of a plan
1. A will
A will says who gets what, names a guardian for children under 18, and names an executor. In California, property that passes through a will still goes through probate court.
Read about wills2. A living trust
A trust can hold your home and accounts while you are alive, while you remain fully in charge as trustee. When you die, the successor trustee you chose can distribute what is in the trust without going to court.
Read about living trusts3. Incapacity documents
A durable power of attorney and advance health care directive name the people who can help when you cannot speak or act for yourself.
Read about powers & health careWhat happens if you do nothing?
Without a plan, the court and California law decide who handles your affairs and who receives your property. That can mean a public probate case, delays, and more work for the people you love.
For a family with children, it can also leave a judge to decide who has temporary authority until the court process catches up. A few decisions made now can spare your family that uncertainty later.
A short glossary
The words people ask about most
Successor trustee
The person who takes over when you cannot or when you die.
Beneficiary
A person or organization who receives something from a plan.
Executor
The person who carries out a will through probate.
Probate
The court process for transferring property after death.
Funding
Moving assets into a trust so the trust can do its job.
Pour-over will
A backup will that directs remaining property into your trust.
Conservatorship
A court-appointed arrangement for someone who cannot manage their own affairs.
Deed
The document that shows ownership of real property.
Certification of trust
A short document banks can use to confirm a trust exists.