California: Living Trust Question
Location: California
My wife and I are recent empty nesters and a little more than halfway through our 30 year mortgage on our home.
Our youngest recently turned 18 and we finally set up a living trust. We went through one of those online services where we answered the questions provided.
We are planning to leave everything equally to our two adult children. The only assets we have are our house, a couple of cars, a couple of insurance policies, a couple of savings plans, and some personal effects. Nothing complicated. The online service combed through all our responses, gave us the paperwork which we sign, got witness signatures, and got notarized. Everything has been filed with the county.
For peace of mind, I wanted to double check that I have everything right in case anything happened to my wife and i, there will not be any complications in order for our kids to take care of whatever is needed.
I am unsure of how my kids should proceed in the case of the deaths of my wife and I. Do they need to approach the lien holders and creditors with the signed documentation upon our death?
I want to be able to verbally tell them how to proceed once that time comes. Thank you.
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