Legal Question in Wills and Trusts in California
My parents recently passed on. They had a will, however, they also apparently had a financial plan drawn up just prior to the second of them passing on. I am an executor of the will, and appear to have some sort of relevance to the execution of the financial plan ( which is being presented to me by my sister who is also an executor on the will as a document which supersedes the will). What sort of timeline should the attorney which drew up the will, as well as myself, have to receive above mentioned financial plan?
2 Answers from Attorneys
The term "financial plan" is unclear. Do you mean to say it is a Trust? Trusts often work with something called a pour-over will that pours everything that was inadvertently left out of the Trust back into it. Usually but not always they are executed at the same time. I cannot answer based on the facts given. The attorney who drew up whatever document it is can certainly advise you as to the rest.
Ms. Johnson is correct. If it is merely a financial plan and not a Trust [title passed into the Trust and not in to the names of parents], then it is not binding and the Trust controls all property properly placed within it, with all other property controlled by the terms of the Will.
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