Revocable Living Trust Planning for Tiburon Residents

Start with what has changed

When an existing plan no longer fits, begin by identifying the change and which parts of the plan it may affect. A change in property ownership, family circumstances or the person you expect to take over management can make it important to revisit how the trust, assets and successor arrangements fit together.

For example, if you acquired property after creating your trust, ask whether its current ownership aligns with the plan. The practical concern is that a trust can address property held in the trust, while other ownership arrangements may not follow that same path.

• List significant changes since the plan was prepared.
• Identify property acquired, sold or retitled, and note how each asset is currently owned.
• Record any changed beneficiary arrangements or concerns about who may manage the trust if you cannot.

Coordinate the trust with asset ownership

A living trust can help transfer property held in it without the ordinary probate distribution process. That outcome depends on coordination: the trust plan needs to match how relevant assets are owned. Signing a trust document alone does not establish that every asset is held in the trust.

Review ownership asset by asset rather than assuming a general instruction applies to everything. If an account or property has a beneficiary arrangement, include it in the review and ask how it fits with the trust plan. Where the ownership or beneficiary arrangement is unclear, get guidance before making changes so the plan is considered as a whole.

• Gather the current trust and any amendments you can locate.
• Prepare a list of major assets with the current owner or title and any beneficiary arrangement you know about.
• Mark information you are uncertain about rather than guessing or changing ownership based on assumptions.

Review successor planning and the limits of a trust

Consider whether the person named to take over trust management remains an appropriate choice, and whether your instructions still express your intentions. This is a planning conversation about who you want to serve in that role and how the trust should operate; a successor arrangement does not eliminate the need to review the document alongside current ownership.

A trust can help transfer property held in it outside the ordinary probate distribution process, but that is not a guarantee that every asset avoids probate or that no court matter will arise. A trust may become involved in court proceedings concerning interpretation or trustee conduct. It also does not, by itself, promise tax savings or protect assets from creditors.

Prepare for a focused review

Bring the documents and questions that make it possible to compare your current plan with your present circumstances. Useful preparation includes the trust and amendments, a current asset and ownership list, known beneficiary arrangements, and notes about changes in family circumstances or successor preferences. This is preparation, not a legal requirement.

Codi M. Dada Law Office P.C. has one in-person office at 802 Grant Ave, Novato, and provides virtual services throughout California. A practical next step is to organize the materials you have and identify the changes or uncertainties you want to discuss.