Can I include clauses requiring the charity to publish an annual impact report?

Estate planning is a deeply personal process, ensuring your wishes are carried out and your loved ones are protected, and at The Law Firm of Steven F. Bliss ESQ. located at

we understand the importance of tailoring a plan to your specific values, including philanthropic goals.

What Happens if I Don’t Have a Will in California?

Many people assume that if they die without a will – known as dying “intestate” – their assets will automatically go to their spouse, and while this is often true for community property acquired during the marriage, the distribution of separate property can become complicated. In California, if you die without a will, the state’s intestate succession laws dictate how your assets are divided. This means your property may not go to the people you intended, potentially causing family disputes and unnecessary legal fees. For example, I once spoke with a woman named Carol, who believed her daughter would inherit everything; however, due to separate property ownership and the lack of a will, a significant portion would have gone to distant cousins. This highlights the critical need for a properly drafted will or trust to ensure your wishes are respected. Currently, formal probate is required for estates over $184,500, and those statutory fees for executors and attorneys can be quite expensive – often a percentage of the estate’s value.

Can I Leave Money to Charity in My Estate Plan?

Absolutely. Charitable giving is a wonderful way to leave a lasting legacy and support causes you care about. You can include provisions in your will or trust to donate a specific amount of money or a percentage of your estate to a qualified charity. However, simply naming a charity isn’t enough; careful planning is crucial. You can include clauses requiring the charity to publish an annual impact report detailing how the funds were used, ensuring accountability and transparency. These reports can provide beneficiaries – and even your family – with peace of mind knowing that your wishes are being fulfilled effectively. Moreover, you can specify performance metrics the charity must meet to receive the funds, further safeguarding your philanthropic goals.

What are the Benefits of a Trust for Charitable Giving?

Trusts offer more flexibility and control than simply including a charitable bequest in a will. A Charitable Remainder Trust, for instance, allows you to receive income during your lifetime while ultimately benefiting a charity of your choice. A Charitable Lead Trust allows the charity to receive income for a specified period, after which the remaining assets pass to your heirs. For example, a client named David wanted to support his alma mater but also provide for his grandchildren. We created a trust that made annual payments to the university for ten years, then distributed the remaining funds to his grandchildren. This allowed him to fulfill both his philanthropic and familial goals. As a trustee, remember to follow the “California Prudent Investor Act” when managing investments within the trust to ensure responsible stewardship of the funds. All assets acquired during a marriage are community property, owned 50/50, offering a significant tax benefit known as the “double step-up” in basis for the surviving spouse.

What About Digital Assets and Estate Planning?

In today’s digital age, it’s crucial to include provisions for managing your digital assets – email accounts, social media profiles, online photos, and digital currency – in your estate plan. Your will or trust should grant explicit authority to a fiduciary to access and manage these assets according to your wishes. Failure to do so can result in these valuable assets being lost or inaccessible. I recently worked with a client, Melissa, who had a substantial collection of digital photographs and a popular online blog. We included specific instructions in her estate plan granting her daughter access to these assets and outlining how she wanted them preserved or managed after her death. This ensured that Melissa’s digital legacy would continue to live on. Remember, no-contest clauses in trusts and wills are narrowly enforced and only apply if a beneficiary files a direct contest without “probable cause.”

At The Law Firm of Steven F. Bliss ESQ. we’re dedicated to providing comprehensive estate planning services tailored to your individual needs and values. If you die without a will, the surviving spouse automatically inherits all community property, but separate property is distributed between the spouse and other relatives based on a set formula.

Don’t leave your legacy to chance. Contact us today at (951) 223-7000 to schedule a consultation and let us help you create an estate plan that reflects your wishes and protects your loved ones.

Secure your future, honor your values, and leave a lasting legacy with The Law Firm of Steven F. Bliss ESQ. – where your peace of mind is our priority.