Legal Question in Wills and Trusts in California

Re: Living Trusts vs. Living Wills (difference?)

You shouldn't be helping him, an attorney should. Pay the money to have it done right. If done wrong, the estate could be divided 3 ways.

Re: Living Trusts vs. Living Wills (difference?)

A living trust allows you to avoid the time, expense, and hassle of probate. Probate is generally considered something to avoid (and would likely be necessary if your father did not have a trust). A "living will" is another name for an Advanced Health Care Directive, which would allow your father to appoint someone to make health care decisions for him, if he became incapacitated.

You say that your father "only has $300,000." That is a large amount of money and I would recommend having an experienced attorney help you ensure that his wishes are carried out.

Re: Living Trusts vs. Living Wills (difference?)

Because the value of the estate is over $100,000 it will be subject to probate if you do not create a trust.

Our firm's recommendation is to always create a will that is complimentary to a trust. You can read more about the information you requested on our site www.No-Pobate.com or you may feel free to contacy our office at 626-578-0708.

Re: Living Trusts vs. Living Wills (difference?)

The trust (along with a pour-over will, powers of attorney for property and health care, and funding of the trust) would be the best solution, in that it will have the lowest overall administration costs during your father-in-law's life and at his death.

It sounds self-serving, but in this case especially I'd recommend the work be done by an attorney. There are pitfalls and problems in normal estates, but you need to be especially careful when disinheriting one or more natural heirs.

Re: Living Trusts vs. Living Wills (difference?)

A living will is a health care directive concerning who will make decisions if your father in law becomes incapacited. A Living Trust is an instrument gives you freedom to sell, spend or give away assets while you are still alive. It can work in tandem with a Will. My suggestion is to seek out legal counsel. Don't forget, the 83-year-old is the client -- not you. It's important for an attorney to sit down with that gentleman and determine his wishes. I am focusing on elder law issues should you wish to contact me for a free consultation. Good luck in your endeavors.

Re: Living Trusts vs. Living Wills (difference?)

I do living trusts at very reasonable rates.

Re: Living Trusts vs. Living Wills (difference?)

Hello. A Living Will is specific to healthcare while a Living Trust and Will are specific to inheritances. If your father has specific bequests he should seek the aid of an attorney because if you use the incorrect wording his wishes may not be carried out as he intended. If I can be of assistance please contact my office and I will draft the proper documents to assure your father his wishes are carried out as to his three children. Have a good day.

Sincerely,

S.M. Smith