Wills and living trusts in Irvine
Find out whether a will alone covers your family, or whether a living trust would spare the people you leave behind a trip through probate court.
Planning ahead
The short answer
A will says who inherits your property and who cares for your minor children, and it generally goes through probate court. A revocable living trust holds your property during your life and lets a successor trustee pass it on without probate, as long as the property was put into the trust. A plan can use both: a trust for your home and major accounts, and a short "pour-over" will to catch anything left outside it.
What is the difference between a will and a living trust?
| Will | Revocable living trust | |
|---|---|---|
| When it takes effect | At death | As soon as it is signed and your property is put into it |
| Goes through probate court? | Generally yes, unless the estate is small enough for a simpler procedure | Not for property the trust holds |
| Public or private? | Becomes part of the public court file in a probate | Generally stays private |
| Helps if you become unable to manage your affairs? | No | Yes. Your successor trustee can step in without a court case |
| Names a guardian for minor children? | Yes | No. Your will does that |
| Needs your property moved into it? | No | Yes. This is called "funding" the trust |
What is a pour-over will?
A pour-over will is a short will that goes with a living trust. It says that anything you still own in your own name at death should go into your trust. It is a safety net, not a substitute for funding the trust, because property that passes under a will may still need probate.
What does "funding" a trust mean?
Funding means putting your property into the trust's name. For a home, a new deed is recorded with the county. Bank and brokerage accounts are retitled to the trust. Retirement accounts and life insurance pass by beneficiary form, so we check those forms too. A trust that is never funded cannot keep your property out of probate, which is why we walk you through each step.
Is a living trust right for me?
A living trust is worth a close look if:
A will alone may be enough if you own little, have no real estate, and your wishes are simple. At your consultation, we look at what you own and tell you which fits.
What about a transfer on death deed?
California lets a homeowner use a revocable transfer on death deed to pass certain real property to named beneficiaries without probate. It can work for a simple plan. It does not manage property if you become unable to, and it is a weaker fit for blended families or young beneficiaries. We explain when it makes sense and when a trust is the better tool.
FAQ
Can I change my living trust later?
Yes. A revocable living trust can be changed or revoked at any time while you are able to make your own decisions. We recommend a review after any major life change.
Do I still need a will if I have a trust?
Yes. A pour-over will catches property you did not move into the trust, and it is where you name guardians for minor children.
Who should I name as successor trustee?
Choose someone organized, fair and willing to do the work: a trusted family member, a friend, or a professional fiduciary. You can also name co-trustees or a back-up. We talk through the choice with you, because this person will carry out your plan.
Will a living trust keep my home out of probate in Orange County?
If the home is properly deeded to the trust, your successor trustee can transfer it without going to the Orange County probate court. We prepare the plan and explain the deed so the home is actually held in the trust.
Planning ahead
- A set of documents that says who receives your property, who manages it if you cannot, and who makes health care decisions for you.Estate Planning
- A trust that holds money for a person with a disability so it can pay for extras without counting against needs-based benefits like SSI and Medi-Cal.Special Needs Trusts
Find out whether a will or a trust fits your family
Call (714) 543-6829 or request a free consultation. Bring any documents you already have, and we will tell you what still works.