Law Offices Of Connie Yi, PC
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate


Wills and trusts complementary, not at cross-purposes

| Sep 6, 2019 | Uncategorized |

So, what’s it going to be, a will or a trust?

Or maybe both.

Financial writer and researcher Bob Carlson recently wrote an article for Forbes on that specific question.

His bottom line is this: Both of those tools are centrally important in estate planning and often – as well as easily – work together in concert rather than in opposition.

We heartily agree with that at the established California estate planning Law Offices of Connie Yi in Pleasanton. We do understand of course that many individuals and families automatically focus on wills when they contemplate their planning needs. We stress on our website, though that, “Contrary to what many people believe, estate planning isn’t just about drafting a will.”

Indeed, timely and tailored planning in most instances is a comprehensive and integrated effort that that closely focuses upon multiple tools that can work in concert to promote key goals and legacies. Wills are of paramount importance in virtually any mix, of course, but their scope and utility is often enhanced when they comprise part of a larger and seamless strategy.

That is where a trust comes in (sometimes more than one trust in a given case), with the benefits a trust offers being myriad and distinct. We fundamentally note on our website that many reasons underscore why trusts are “an integral piece of estate planning for many individuals, couples and families in the Bay Area.”

Forbes contributor Carlson couldn’t agree more. We will spotlight his trust-linked analysis in on our next blog post.



FindLaw Network

Recent Blog Post

What are reasonable fees to charge as a trustee in California?

When implementing an estate plan in California, it is essential to ensure that you receive the proper compensation for the amount of time and work you are putting in. The probate court will look through the amount you charge to see if it is reasonable, especially if...

What to know about life insurance trusts

California families have an exemption for their estate that keeps it from being subject to income taxes. However, above that $11.7 million, the estate tax bill could get large. This is why they need to take measures to reduce the size of their taxable estate. Life...

Are estate taxes headed for changes?

Not every inheritance involves paying estate taxes, but some estates rise above the federal exclusion amount. California residents that feel familiar with state and federal tax rules might not realize changes could happen. Namely, proposals intended to raise tax...

View More Blog Posts