Estate Planning FAQs

Fox, Shjeflo, Hartley & Babu LLP assists clients in San Mateo County, Silicon Valley, and the San Francisco Peninsula with a range of trust, estate and probate matters. The firm provides the following answers to frequently asked questions as a resource for clients and others seeking general information about estate planning and California probate administration. For further information, visit our estate planning page. To consult with an experienced and knowledgeable attorney, contact the firm today.

What are the advantages of a revocable living trust over a simple will?

A revocable "living" trust provides a plan for the management of the assets held in the trust. In the event you become incapacitated, the person(s) specified in your trust as successor trustee(s) will assume the management of the trust assets on your behalf. Upon your death, the assets held in the living trust will be distributed to the beneficiaries of your trust, in the manner set forth in the trust, without requiring probate administration.

How does a revocable "living" trust work?

A revocable "living" trust is a document which you create during your lifetime which allows you to specify who will manage the assets of the trust (the "successor trustee") and who will receive the assets of the trust (the trust "beneficiaries") after your death. During your lifetime, you are generally both the trustee and the beneficiary of the trust, ensuring that you still have complete use and control over your assets. As the name implies, you can revoke the trust or make changes to the provisions of the trust during your lifetime.

In order to effectively avoid probate, title to your assets must be properly transferred to the trust. This important but often overlooked step in the estate planning process is referred to as "funding" the trust.

What other documents should I consider including in my estate plan?

As part of a comprehensive estate plan, the attorneys at Fox, Shjeflo, Hartley & Babu LLP may recommend a durable power of attorney for financial matters, which allows you to designate a person or persons to manage your financial affairs if you become incapacitated. Our estate planning lawyers may also recommend an advance health care directive, which will allow you to specify your wishes regarding your health care and end-of-life decisions, and appoint someone to carry out your wishes.

For answers to your questions regarding estate planning, contact Fox, Shjeflo, Hartley & Babu LLP to schedule a complimentary consultation with one of our experienced estate planning attorneys.