Miscellaneous Estate Planning Options
Not everyone needs a trust, and not every asset should be in your trust. A good estate planning attorney will review your assets with you and make sure each is titled properly to achieve your desired results. As of January 2016, California now allows a Revocable Transfer on Death Deed, that allows real estate to be passed outside of probate. Joint Tenancy or Joint Ownership of property is a method to pass property, although this form does have serious potential drawbacks. Many financial accounts, investment accounts, life insurance policies, and other accounts allow to designate a transfer on death beneficiary that avoids probate and should be used where possible. The bottom line is that one size does not fit all. A good attorney will review your unique needs and make a comprehensive plan specific for you.