Wills

A Will is a traditional legal document which is effective only at your death to:

•Name individuals (or charitable organizations) to receive your assets upon your death (either by outright gift or in trust).
•Nominate an executor, appointed and supervised by the probate court, to manage your estate, pay debts and expenses, pay taxes, and distribute your estate in an accountable manner and in accordance with your will.
•Nominate the guardians of the person and estate of your minor children, to care and provide for your minor children.
•Assets or interests in property in your name alone at your death will be subject to your will and subject to the administration of the probate court, generally in the county where you reside at your death.
The State Bar has published a pamphlet entitled “Do I Need a Will?” which provides more detailed information about wills. You may obtain a free copy of the pamphlet by contacting the State Bar.

For some people a California Statutory Will may be appropriate. This is a “fill in the blank” form which can be used by any California resident competent to make a will. In any event, you must execute your will in the manner required by California law. Failure to do so may invalidate your entire will. You should discuss the requirements of properly executing your will with a qualified lawyer.

If you have questions, or want the firm to immediately begin working on your will, please contact us at 800-850-7312.

Trusts

A revocable living trust is also commonly referred to as a revocable inter vivos trust, a grantor trust or, simply, a living trust. A living trust may be amended or revoked by the person creating it (commonly known as a “trustor,” “grantor,” or “settlor”) at any time during the trustor’s lifetime, as long as the trustor is competent.

A Trust is a written agreement between the individual creating the trust and the person or institution named to manage the assets held in the trust (the “trustee.”) In many cases, it is appropriate for you to be the initial trustee of your living trust, until management assistance is anticipated or required, at which point your trust should designate an individual or bank or trust company to act in your place. The terms of the trust become irrevocable upon the trustor’s death. Because the trust contains provisions which provide for the distribution of your assets on and after your death, the trust acts as a substitute for your will, and eliminates the need for the probate of your will with respect to those assets which were held in your living trust at your death.

You should execute a will even if you have a living trust. That will is usually a “pour over” will which provides for the transfer of any assets held in your name at your death to the trustee of your living trust, so that those assets may be distributed in accordance with your wishes as set forth in your living trust.

The State Bar has published a pamphlet entitled “Do I Need a Living Trust?” which provides more detailed information about trusts. You may obtain a free copy of the pamphlet by contacting the State Bar.

You should consult with a qualified estate planning lawyer to assist you in the preparation of a living trust, will and other estate planning documents. Further, inasmuch as living trusts are not automatically subject to probate court jurisdiction, the choice of a trustee to manage and control your property is an extremely important decision.

If you have questions, or want to discuss the firm immediately beginning work on your case, please contact us for a free ten-minute no-obligation consultation with one of our attorneys at 800.850.7312.

Serving The Following Areas

The Law Offices of Adam M. Leach handles cases throughout Southern California, including Los Angeles and Los Angeles County and the municipalities of Alhambra, Altadena, Arcadia, Azusa, Baldwin Park, Beverly Hills, Bell, Boyle Heights, Burbank, Chino, Covina, Commerce, Diamond Bar, Downey, Duarte, Eagle Rock, East Los Angeles, El Monte, Encino, Glassell Park, Glendale, Glendora, Highland Park, Hollywood, Irwindale, La Canada, La Crescenta, La Puente, Lincoln Heights, Long Beach, Lynwood, Malibu, Marina Del Rey, Maywood, Monrovia, Monterey Park, Montrose, North Hollywood, Norwalk, Oxnard, Pasadena, Pico Rivera, Pomona, Rosemead, San Dimas, San Fernando, San Gabriel, San Marino, Santa Clarita, Santa Monica, Sherman Oaks, South Gate, South Pasadena, Studio City, Temple City, Universal City, Van Nuys, Valencia, Walnut, West Covina, West Los Angeles, West Hollywood, and Whittier.

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