WAEstate

Sacramento Estate Planning Attorney

Call Now: (916) 437-3500

Getting Started
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube
  • Home
  • Our Firm
    • About Our Firm
    • Meet Our Team
  • Estate Planning
    • Estate and Gift Tax Figures
    • Estate Planning
    • IRA & Retirement Planning
    • LGBTQ Community
    • Legacy Planning
    • Medi-Cal
    • Pet Planning
    • Special Needs Planning
    • Trust Administration and Probate
    • Veteran’s Benefits
  • Elder Law
    • Alzheimer’s Disease
    • Caregiver Information
    • Hospice Care
    • Medi-Cal Planning
    • Nursing Home Planning
  • Communities We Serve
  • Seminars
  • Reviews
    • Our Reviews
    • Review Us
  • Resources
    • Articles
    • Definitions
    • Estate Planning Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Estate Planning Techniques
    • Elder Law Reports
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Business Succession Planning
      • Elder Law
      • Estate Planning
      • Estate Planning
      • LGBTQ Estate Planning
      • Elder Law Issues
      • Frequently Asked Questions for Families Without an Estate Plan
      • Medi-Cal
      • Medi-Cal Planning
      • Trust Administration & Probate
    • Free Seminars
    • Is Your Estate Plan Outdated?
    • Presentations
    • Probate Resources
      • Colfax Probate
    • Veterans Resources
  • BLOG
  • Contact Us

2 Essential Estate Planning Tools: A Will and a Revocable Living Trust

June 28, 2013 by Timothy P. Murphy Leave a Comment

A good estate plan fits your individual needs, and as a result, no two estate plans are identical. However, there several estate planning tools and that almost everyone needs to include in their plan. Two of the more important are a will and a living trust.

Will

A last will and testament, usually called a will, allows you to choose who you want to inherit your property after you die. You can also choose an executor to manage your estate, create a trust that will protect property for minor children until they’re old enough to own it themselves, and name a guardian who will care for minor children if you should die before they reach adulthood.  Wills are most commonly used for modest estates since larger estates passing via a will must go through the probate process.

Revocable Living Trust

Once you die your property has to go to new owners. As noted, if you rely upon a will to transfer the property, the property will first have to go through the probate process unless it is modest in size. This can be lengthy and expensive. To avoid probate you can create a revocable living trust. Once you create a trust you can then transfer your property to that trust and dictates how it will dispose of the property after you die. This effectively allows you to avoid probate.

The best way to determine whether a will or trust is best for you is to consult with an experienced and qualified estate planning attorney.

  • Author
  • Recent Posts
Timothy P. Murphy

Timothy P. Murphy

Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Timothy P. Murphy

Latest posts by Timothy P. Murphy (see all)

  • Important Estate Planning Tools for the LGBTQ Community - December 11, 2019
  • Don’t Accidently Disinherit Your Children - December 9, 2019
  • Your Estate Plan: Get It Into a Writing or Else - December 7, 2019

Filed Under: Probate, Trusts Tagged With: Revocable Living Trusts

Other Articles You May Find Useful

Northern California Center for Estate Planning and Elder Law
Student Loans and Death
Roseville probate attorney
How Are Assets Valued during Probate?
Northern California Center for Estate Planning and Elder Law
Why a Will Isn’t the Only Document You Need (part 2 of 2)
Northern California Center for Estate Planning and Elder Law
Caution: Not All Living Trusts Will Avoid Probate
Sacramento probate attorney
What Happens If We Can’t Agree on Who Should Administer My Mother’s Estate?
Sacramento living trust attorneys
Do You Have to Go through Probate with a Living Trust?

Leave a Reply Cancel reply

You must be logged in to post a comment.

Download our free estate planning Worksheet

Plan For Your Future and Protect Your Legacy Download our Estate Planning Worksheet to get started!
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Upcoming Seminars

    Previous Seminar Topics:

    • 8 Deadly Mistakes: How Clients Destroy Their Estate Plans and What You Can Do About It (June 2019)
    • Beneficiary Planning: Tailoring Your Estate Plan To Meet Your Goals And Their Needs (March 2019)
    • Long Term Care Planning In A Changing World (February 2019) (March 2018) (January 2016) (July 2016)
    • The Trustee Workshop: Keeping Things In Good Order Now and In the Future (January 2019) (February 2018)
    • The New Tax Law: What It Means For You (January 2018)
    • Effective Estate Planning Strategies: What You Need to Know” (Dante Club, May 2018)
    • “Taking Care of Business: Planning Guide and Resources for Older Adults” (Carmichael Presbyterian Church, May 2017)
    • “The Care and Feeding of Your Living Trust: Keeping It Up To Date” (January 2016) (September 2017)
    • “Protecting Your Retirement Accounts from Excess Taxes, Penalties and Problems Now and in the Future” (January 2016) (January 2017)
    • New President, New Tax Laws? (January 2017)
    • The Trustee Workshop: How to Make Sure Your Trust Works When You Need It (August 2016)
    • Estate Planning Workshop (March 2016)
    There are no seminars scheduled at this time. Please leave your name and email and we will let you know when our next one is scheduled.
    • This field is for validation purposes and should be left unchanged.

SACRAMENTO

2277 Fair Oaks Blvd., Ste 320
Sacramento, CA 95825-5599
United States (US)
Phone: (916) 437-3500

ROSEVILLE

3017 Douglas Blvd., Ste 300
Roseville, CA 95661
United States (US)
Phone: (916) 437-3500

MAP

norcalplanners_sidbr_map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM
footer-logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Northern California Estate Planning Firm. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2019 American Academy of Estate Planning Attorneys, Inc.