TL;DR
Here’s what you need to know in one quick read:
- Will – Decide who inherits what or if you have a trust assigning your assets to the Trust to be distributed as you direct, and pick someone to manage your estate.
- Living Trust – Avoid probate court, keep your affairs private, and make asset transfers easier.
- Durable Power of Attorney – Authorize someone you trust to handle your finances and legal matters if you can’t.
- Advance Healthcare Directive – Lay out your medical wishes and name a person to make healthcare decisions for you.
- Beneficiary Designations – Make sure retirement accounts and insurance go directly to the people you intend.
Review and update these documents every 3–5 years or when life changes significantly, such as the birth of grandchildren or purchase of real property.
1. Last Will and Testament
A will is the foundation of most estate plans. With your will, you can:
- Name who receives your assets after death
- Appoint a guardian for minor children
- Choose someone to manage your estate
Without a will, California’s intestate laws apply, and those rules may not match your preferences, especially if you have a blended family, aren’t married, or want to leave gifts to a friend or partner.
Even if you also have a trust, a will is still essential to ensure that any assets not held in Trust or taken out of Trust remain within your estate.
2. Living Trust
A living, revocable trust lets you transfer assets without probate. It’s a great option if you:
- Own a home, other real property, or have significant assets
- Want to avoid probate delays and costs
- Prefer to keep your estate plan private
You maintain full control during your lifetime, and after you pass away, a successor trustee handles distribution according to your specific directions, without needing court approval.
3. Durable Power of Attorney
A durable power of attorney lets someone you trust handle your legal and financial affairs if you can’t. They can:
- Pay bills and manage accounts
- Handle taxes, insurance, and property
- Make legal decisions for you
Essentially, with this power, your attorney-in-fact will be able to sign your name as you would. Without this document, your family may need to go to court, causing delays and added legal expenses.
4. Advance Healthcare Directive
Also known as a living will or healthcare power of attorney, this document specifies your medical wishes and names someone to make healthcare decisions when you can’t. It covers:
- Life support preferences
- Organ donation
- End-of-life care decisions
- Burial and funeral decisions
Having this in place ensures medical staff and family members respect your wishes.
5. Beneficiary Designations
Some assets bypass your will or trust and transfer directly to whoever is named, including:
- Retirement accounts (401(k), IRA)
- Life insurance policies
- Payable-on-death (POD) bank accounts
Keeping your beneficiary designations current ensures these assets go where you want them, not where outdated paperwork or default settings dictate.
Keeping Your Documents Current
Estate planning is not a one-and-done activity. As your life changes – marriage, divorce, births, deaths, or financial shifts – you need to update your documents to reflect your current situation.
Revisit your estate plan at least every 3–5 years or after significant life events.
Get Professional Help From a Trusted Upland Attorney
These documents may seem straightforward, but small errors can lead to big problems later. That is why it is important to have a local Upland attorney handle the preparation and review, especially when coordinating a will, trust, power of attorney, or healthcare directive.
Our firm ensures your estate plan:
- Is valid under California law
- Works together with your documents, titles, and accounts
- Supports your goals both now and in the future
A large part of our practice involves probate. We can assist not only with planning but also with probate and trust administration after a death or incapacity.
Whether you are starting fresh, need updates, or require help with probate or trust and estate litigation, we are here to guide you.
FAQs
Q: Do I need a will if I already have a trust?
A: Yes. There are different types of wills, and in the case of a trust, a “pour-over will” is necessary to act as a catchall that designates any assets not held in the trust to be distributed to the trustee and administered pursuant to the trust. In some circumstances, it is possible to use the will to transfer assets without probate.
Q: Can I make these documents myself online?
A: DIY or AI tools exist, but errors or omissions can make them invalid or create unforeseen issues that can take years to catch. A local attorney ensures compliance with California law.
Q: How often should I update my estate plan?
A: Every 3–5 years, or after events like marriage, divorce, births, or major financial changes.
Q: What happens if I don’t have these documents?
A: The state will decide how your assets are distributed according to intestacy laws in probate court. This may not reflect your personal wishes, especially in cases involving unmarried couples or blended families. Having proper estate planning documents helps ensure your intentions are followed.
Q: What’s the difference between a will and a trust?
A: A will goes through probate, which is court-supervised and can take a year or more before assets are distributed. A trust avoids probate, remains private, and is managed by someone you choose without court involvement. The cost to administer a trust is generally much lower than the cost of administering an estate through probate. While they serve different purposes, wills and trusts often work best together.
Ready to Put Your Estate Plan in Place?
Make sure your documents are complete, up to date, and legally sound.
Call Randal P. Hannah, Attorney at Law at (909) 608-1220 or contact us online to schedule your consultation today.
