Legal Question in Wills and Trusts in California

Do I need a living trust?

I have been diagnosed with terminal cancer. I have a will but do not have a living trust. I do not own property, but I do have an insurance policy, household goods and I own a business selling items on the internet. My two daughters will be given equal inheritance of the insurance policy, but the internet business will be given to one daughter only. Do I need a living trust? Please answer as soon as possible. Thanks


Asked on 9/27/04, 12:19 am

1 Answer from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: Do I need a living trust?

What is the value of the internet business? If over $100,000, it is possible that probate would be required.

You may want to give your daughter ownership now rather than wait.

If you do that, chances are you would not need a trust, because insurance proceeds pass outside of probate (provided your daughters are the named beneficiaries).

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Answered on 9/27/04, 1:50 pm


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