Legal Question in Wills and Trusts in California
If you have only CD's and IRA's showing 50/50% to 2 adult children, plus no other assets other than old car, jewelry what will would you use and why?
1 Answer from Attorneys
Even assuming that the CDs and IRAs have the proper beneficiary designations, you need some way to transfer title to your other property. If you don't your children would not, for example, be able to sell your car. The easiest way to to have a simple revocable trust and assign everything into the trust. When you pass away the trustee, who can be one of your children, will be able to easily deal with everything.
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