Pour-Over Wills and Trusts: Simplifying Probate Avoidance

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Wills are probated if they involve transferring properties that cannot be transferred by non-probate or small estate alternatives. A will is revocable and subject to family legacy protection amendment at any time during your lifetime; however, amendments must be made with the same formalities as the will. A living trust is created by you during your lifetime. A will is written during your lifetime, but does not take effect until after your death. A living trust, sometimes referred to as a revocable trust or inter vivos trust, is established and takes effect during your lifetime by a written document known as a trust agreement. This commentary is provided for general information purposes only, should not be construed as investment, tax or legal advice, and does not constitute an attorney/client relationshi

Is my living trust "revocable"? Can I cancel or change it?
For California residents, living trusts are a smart option to protect your estate and save your loved ones time, money, and effort. With a will, you can also leave instructions for any of your property that wasn’t transferred to your trust before you passed away. If you want to revoke a revocable living trust, you’ll first have to transfer all your assets out of it.
Your California Living Trust: A Special Kind of Box You Pass Along
When you die, a "successor trustee" named by you simply and efficiently gets handed the box. Many people create a family legacy protection revocable living trust as part of their estate plan. You could instead use a will, but wills must go through probate—the court process that oversees the transfer of your property to your beneficiaries. The beneficiaries you name in your living trust receive the trust property when you die. Some estate planning clients change their estate planning frequently as they get older.