Wills and Trusts

Chico Wills and Trusts Attorney Nicole Reimer
Chico Wills & Trusts Attorney Nicole Reimer

Call Today 530-898-1111

Having the proper estate planning documents, whether a will, a trust, or both, will prevent an individual from dying intestate. If an individual dies intestate, then their possessions will be inherited according to how the law states their items will be inherited. By creating a will, trust, or both, an individual can determine how their possessions will be inherited and by whom after they die.

Estate Planning: Wills

There are several types of wills that can be drafted for an individual, from a testamentary will that will stand alone and state how an individual’s possessions will be inherited after their death, to a pour over will that will place their possessions into a trust for inheritance. When an individual has a will, their property will be inherited by their loved ones through a probate process.

Estate Planning: Trusts

An individual’s property can be inherited absent a probate process if their possessions are properly placed into a trust. This is desirable to many individuals, because probate can be a lengthy and costly process, whereas trust administration is often much faster and cheaper. A trust can be set up in many different ways and can be either revocable or irrevocable during an individual’s lifetime. For a married couple, a trust can even be set up as revocable while both spouses are living, but become irrevocable after the death of either spouse.

Updating And Revoking Your Will Or Trust

An individual will want to review their estate plan regularly to determine if their will or trust needs to be updated and amended. Many life events will trigger the need to update an individual’s will or trust, including marriage, divorce, birth of a family member, death of a family member, or the purchase of a new home among other major life events.

Advanced Health Care Directives and Powers of Attorney

As a part of a complete estate plan, an individual should have both an advanced health care directive and a durable power of attorney. These two documents, working together, will ensure that your loved ones know what you would like to happen in the event you are unable to make your own decisions due to incapacity. An advanced health care directive allows you to nominate an individual to carry out your desires related to your health care needs. A durable power of attorney allows you to nominate an individual to carry out your desires related to your finances.

If you would like to decide how and where your property and possessions go when the time comes, call Chico Wills and Trusts Attorney Nicole Reimer today (530) 898-1111 and schedule a free consultation.

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(530) 898-1111