A: Nope! Your trust can be created to include any children you have now and any children that you may have in the future. Amending your trust is always an option, but is not needed for this purpose if it is executed correctly!
Rose Law Firm of Napa Valley, Inc.
Q: Am I allowed to name all of my children as co-trustees of my trust when I pass, or do I have to pick one person to be in charge of carrying out my wishes?
A: You can choose either option! There may be valid reasons to pick multiple people to act as the trustee, just as there may be valid reasons to only have one person acting at a time. An experienced estate planning attorney can usually advise as to what would make the...
Q: When should you update your estate plan during a divorce?
A: Although probate code section 6122 largely disinherits a former spouse automatically upon entry of a divorce judgement, the same is not true while the divorce is still in process. Therefore, as soon as possible after the divorce proceedings have been initiated, you...
Q: Am I allowed to name all of my children as co-trustees of my trust when I pass, or do I have to pick one person to be in charge of carrying out my wishes?
A: You can choose either option! There may be valid reasons to pick multiple people to act as the trustee, just as there may be valid reasons to only have one person acting at a time. An experienced estate planning attorney can usually advise as to what would make the...
Q: What happens if I forget to name a beneficiary on one of my retirement accounts?
A: If you forget to name a beneficiary on your retirement account, the assets in the account typically do not avoid probate and may end up being distributed according to your will (if you have one) or based on state intestacy laws if you don’t. In some cases, the...
Q: What is a Revocable TOD Deed?
A: The Revocable “TOD” (“Transfer on Death”) Deed, introduced into law in 2016, was created as a new probate-avoidance strategy available to Californians. Specifically, the Revocable TOD Deed allows individuals to transfer, effective only upon death and outside of...
Q: Can I just create a trust on my own?
A: You sure can, but it's not advisable! The worst part of a DIY trust is that by the time problems start sprouting up, there is nothing that can be done to fix them (because they typically aren't discovered until AFTER you're gone). Creating a trust on your own my...
Can I include belongings in my estate plan that aren’t worth a lot of money but are still important to me?
A: Absolutely! Your estate plan gives you the opportunity to communicate to your loved ones how you would like belongings that have special meaning to you handled. Whether it be a family heirloom, a box of albums, or an important personal keepsake, your estate plan...
Q: Am I able to hire a new attorney to take over my file and make updates to my documents?
A: Yes! This is a particularly common scenario when it comes to estate planning attorneys retiring. Many attorneys already have systems and processes in place for this exact situation. A client always has the right to switch attorneys at any time, even if their...
Q: A member of my family died, and his will needs to be probated. Do I need to hire an attorney, or can I handle everything myself?
A: You are not legally required to hire an attorney to file for probate and administer an estate, but the probate process can be difficult to navigate without legal advice. There are numerous tasks to complete, notices to provide, court filings, and deadlines. You...
