Why do I need a will AND a trust in California?

If you have a child or you own property in California, it’s likely you need a trust. If you need a quick primer in why you need a trust, here’s an older blog post on the topic.

Even if you have a trust, you will still need a will. In this context, the will is called a “pour-over will.” The primary job of this will is to pour everything into your trust — to make sure your assets are distributed per the terms of your trust. For example, if your trust says that your kids get everything equally and you forget to put a bank account into the trust, then your will pours that bank account into your trust so your kids can split that bank account money equally.

The will also revokes any prior wills. This means that anything you wrote on a napkin will no longer be relevant!

And finally, we use a will to name guardians for minor children. Who do you want to care for your kids if you’re unable to do so? Your guardianship nominations go in the will.

So, your trust will talk about how to manage your assets when incapacitated, who will do this, how assets will be distributed at your death, who will do that, and various other details. The will revokes any prior wills, ensures all your assets get into your trust, and is where you name your guardians.

Voila: you need both. Contact me for a consultation.