Estate Planning Q&A: Wills, Trusts, and Advanced Directives with Dr William Choctaw and Attorney Bernie Brown

100:00:01,890 --> 00:00:04,030Are there any questions for either of us?200:00:04,110 --> 00:00:04,490Oh, yes.300:00:04,490 --> 00:00:10,360Attorney Brown, my question is,on a deed of transfer, you don't400:00:10,620 --> 00:00:11,760leave it at a trust, right?500:00:11,760 --> 00:00:16,430You could just do the deed oftransfer and that's less expensive?600:00:16,430 --> 00:00:22,700Yes, a deed of transfer, the disadvantageis it only covers the specific property700:00:22,849 --> 00:00:27,700that's named in the deed, the deedupon death, okay, is what it's called.800:00:28,110 --> 00:00:33,830Generally you can go to Oneof your stores, or like Office900:00:33,830 --> 00:00:35,450Depot or someplace like that.1000:00:35,800 --> 00:00:39,340And a lot of times they have theforms available there, but yes you1100:00:39,340 --> 00:00:47,260would not need a trust if you do a,a deed deed deed upon death, sorry1200:00:47,600 --> 00:00:49,185then it will transfer automatically.1300:00:49,785 --> 00:00:53,445And so if you have more than oneproperty, then you need one that's a1400:00:53,445 --> 00:00:57,277deed of trust for each property, or youjust can't use this amount of money?1500:00:57,277 --> 00:01:00,674Now, I would do oneseparately for each property.1600:01:01,355 --> 00:01:07,784And basically, the interesting thing too,is you, you fill it out, but then you have1700:01:07,785 --> 00:01:09,964to go to the county recorder's office.1800:01:09,964 --> 00:01:14,438At some point, someone will need togo to the county recorder's office1900:01:14,438 --> 00:01:19,229and record it so that the transfer Ok.2000:01:19,229 --> 00:01:26,120Basically, it won't cost younot even a hundred dollars.2100:01:26,120 --> 00:01:26,809Yes.2200:01:27,949 --> 00:01:28,190Ok.2300:01:28,289 --> 00:01:28,679Thank you.2400:01:28,770 --> 00:01:29,270You're welcome.2500:01:32,570 --> 00:01:32,859Dr.2600:01:33,130 --> 00:01:33,449Chalko.2700:01:34,140 --> 00:01:38,129Did I understand you to say thatan arm of the Director here,2800:01:38,130 --> 00:01:42,269Director Bell is in there, andthey cannot be here in health care?2900:01:45,955 --> 00:01:50,995Are relatives, so you have totake two plans, is that correct?3000:01:51,215 --> 00:01:51,435Yes.3100:01:51,585 --> 00:01:51,875Yeah.3200:01:52,275 --> 00:01:52,835E exactly.3300:01:53,740 --> 00:01:57,910That, that they, they, they can, oneof them cannot be a family member3400:01:57,915 --> 00:02:00,280or, or someone who's related to you.3500:02:00,750 --> 00:02:03,540Which is one of the reasons why alot of people just do the notary3600:02:03,570 --> 00:02:07,200because you know, you have to doa lot of planning a lot of times3700:02:07,205 --> 00:02:08,760to get all these people together.3800:02:09,265 --> 00:02:14,185Ideal way I think to approach it is thatif you get an advanced directive, say at3900:02:14,185 --> 00:02:19,135your doctor's office or at the hospital,ask them what the most, the easiest way4000:02:19,345 --> 00:02:24,145to get the validation in terms of whetherit's witnesses or whether it's a notary4100:02:30,285 --> 00:02:30,975attorney brown.4200:02:31,205 --> 00:02:31,625Yes.4300:02:31,625 --> 00:02:34,415The transfer property, ifyou had it in a living trust.4400:02:34,445 --> 00:02:34,535Yes.4500:02:35,500 --> 00:02:43,360Does the trust take care of forwardingit to the Board of Registrar's Office?4600:02:45,310 --> 00:02:46,560The Board of Registrar's Office.4700:02:47,390 --> 00:02:54,100No, what happens is you name atrustee and a successor trustee.4800:02:54,680 --> 00:03:00,370Now, when the person dies,actually, the transfer to the4900:03:00,370 --> 00:03:02,680trust occurs while you're alive.5000:03:03,260 --> 00:03:07,870And somebody has to go down tothe county recorder's office.5100:03:08,580 --> 00:03:15,400And the recorder's office and recordthe transfer of the deed to the trust.5200:03:15,970 --> 00:03:21,210It's the, you fill out a form,you indicate that it's transferred5300:03:21,210 --> 00:03:25,080to the Bernie Brown Trust orwhatever the name of your trust.5400:03:25,420 --> 00:03:29,800And then it's on record thatit's transferred to the trust.5500:03:30,310 --> 00:03:34,000And then the trustees controlit control the property.5600:03:34,430 --> 00:03:36,780Which, like I saidearlier, it might be you.5700:03:37,500 --> 00:03:41,590So while you're alive, you control it,and while you're alive, it's revocable.5800:03:41,750 --> 00:03:48,350But once you die, then your successortrustee will go, will transfer5900:03:48,350 --> 00:03:52,780the property, and they will showthat it's owned by the trust, and6000:03:52,780 --> 00:03:56,150therefore that they are authorized todo whatever they want to do with it.6100:03:56,620 --> 00:04:04,440Keep it, hold it, trust it, or however youhave directed it to happen in the trust.6200:04:06,245 --> 00:04:09,195You see, these trusts are very,they can be very complex, and I6300:04:09,195 --> 00:04:12,525don't want to take up too muchtime, but you can put virtually6400:04:12,545 --> 00:04:14,315anything that you want in the trust.6500:04:14,965 --> 00:04:18,245You can put in there one of thethings my mother did, which was6600:04:18,245 --> 00:04:20,045really kind of, kind of cool.6700:04:20,535 --> 00:04:22,655It was my sister and my three brothers.6800:04:23,265 --> 00:04:29,755And she had the we put in her trustthat the property should remain6900:04:29,765 --> 00:04:32,625in the family during the lifetime.7000:04:33,085 --> 00:04:38,625And any of us should be entitledto live in that property.7100:04:39,130 --> 00:04:43,360While we're alive, unlessall of us agree to sell it.7200:04:44,290 --> 00:04:50,750So, thereby she created a situation whereall the kids would have a place to stay.7300:04:50,750 --> 00:04:51,950And that was what she wanted.7400:04:52,280 --> 00:04:55,750She wanted each child to have aplace where they could stay if7500:04:55,750 --> 00:04:58,070they needed a home to live in.7600:04:58,555 --> 00:05:01,565Sorry, I didn't want to,but anyway, that's good.7700:05:07,515 --> 00:05:08,175I have a question.7800:05:12,245 --> 00:05:14,005I have a set aside on,7900:05:18,065 --> 00:05:20,365and I told them that'splenty of money for my car.8000:05:21,275 --> 00:05:24,785However, I think you saidit's about a year and a half,8100:05:26,985 --> 00:05:27,715putting stuff in the garage.8200:05:29,355 --> 00:05:33,825How does he get money fromthere when I get a car?8300:05:33,925 --> 00:05:35,945Well, what happens isyou name an executor.8400:05:36,325 --> 00:05:41,825In your will, and the executor filesthe application with the court, and8500:05:41,835 --> 00:05:46,335they go into court, and if you'venamed a guardian in your will for your8600:05:46,345 --> 00:05:50,875minor child, they go into court, andthen the court approves everything.8700:05:51,345 --> 00:05:57,195Now, it can be, it can, Take time,but it can be pretty quickly too.8800:05:57,485 --> 00:06:00,855I mean, as soon as they file theapplication, your executor files the8900:06:00,855 --> 00:06:05,345application, the attorneys come in,they get a date, and then they get9000:06:05,345 --> 00:06:08,875approval from the court, they showthe court the will, the court looks at9100:06:08,875 --> 00:06:13,985it, it directs that certain funds bedistributed in a certain way, and then9200:06:13,985 --> 00:06:19,675they immediately begin that process ofdistributing those funds as you indicated.9300:06:20,030 --> 00:06:20,630In the will.9400:06:21,650 --> 00:06:21,740Mm-Hmm.9500:06:29,895 --> 00:06:31,235Can you do addendum?9600:06:32,595 --> 00:06:34,095It's not recommended.9700:06:34,155 --> 00:06:40,015You can generally most lawyerswould say just do another trust.9800:06:40,015 --> 00:06:42,205Revoke the old winner and do another one.9900:06:42,525 --> 00:06:45,725But it, it, it is, it, it can be done.10000:06:45,815 --> 00:06:46,175Yes.10100:06:51,110 --> 00:06:51,670Attorney miles.10200:06:56,690 --> 00:06:58,625And the time that I viewed the.10300:07:11,855 --> 00:07:16,234It just made me stop thinking about kids.10400:07:18,475 --> 00:07:24,391I did do a wheel, and I still have it.10500:07:24,391 --> 00:07:26,044So, I still see it as so10600:07:31,505 --> 00:07:31,965unrecognizable.10700:07:35,395 --> 00:07:36,265And it's not10800:07:41,065 --> 00:07:43,695kids just to get everything.10900:07:47,005 --> 00:07:52,405Your will is revoked automaticallyby operation of law with11000:07:52,405 --> 00:07:55,215regard to your prior spouse.11100:07:55,915 --> 00:07:59,765So that portion of the willis automatically revoked.11200:08:00,025 --> 00:08:03,985If you get remarried, theentire will is revoked.11300:08:04,405 --> 00:08:08,600You can always like I said, mentionedearlier, you can just destroy11400:08:08,600 --> 00:08:13,290the will, throw it away and writea new one or write a new trust.11500:08:13,650 --> 00:08:18,820You can all so it is flexible asto exactly how you want to do it.11600:08:18,820 --> 00:08:20,960There are several ways to do it.11700:08:21,490 --> 00:08:24,090But I wasn't sure.11800:08:24,490 --> 00:08:24,890I'm sorry.11900:08:24,890 --> 00:08:25,190Go ahead.12000:08:28,300 --> 00:08:28,810Okay.12100:08:29,580 --> 00:08:30,070Okay.12200:08:30,070 --> 00:08:36,240Well then, then he's not going to, yeah,and you said you're divorced from him.12300:08:36,945 --> 00:08:38,825Right, so he's not going toget anything out of the way.12400:08:38,825 --> 00:08:42,835Don't worry, he won't get a bag.12500:08:48,045 --> 00:08:50,355I can't hear you now.12600:09:01,405 --> 00:09:03,675Well, that's what a living trust does.12700:09:04,495 --> 00:09:06,765A living trust makes it possible.12800:09:07,055 --> 00:09:11,835So that everything can go directly to thechildren without going through probate.12900:09:21,595 --> 00:09:23,565Another price for the probate, right?13000:09:23,565 --> 00:09:24,475To do that.13100:09:24,535 --> 00:09:26,824I mean, to do that over and over.13200:09:27,105 --> 00:09:30,395You wouldn't go through probate, soyou wouldn't have to pay for probate.13300:09:30,395 --> 00:09:32,035But yes, you would have to.13400:09:33,555 --> 00:09:39,685Prepare, pay a lawyer to preparea new living trust, or huh.13500:09:40,105 --> 00:09:45,515There is another one other alternativeand in this modern space age we live in13600:09:46,965 --> 00:09:50,485You can go online and there are services.13700:09:50,485 --> 00:09:55,645One of the services is called Nolo Nolow press, but you go online and type13800:09:55,645 --> 00:10:01,585in Revocable Trust or, you know, LivingTrust and you type it in there and it'll13900:10:01,605 --> 00:10:08,445come up and it'll say we'll charge you 75and what will happen is, it's a question14000:10:08,445 --> 00:10:14,005and answer and it's an interactivetype thing and then you go page by page14100:10:14,005 --> 00:10:18,405by page and you create it and then itit'll make your answer a little shorter.14200:10:18,890 --> 00:10:21,360And I'm just making apoint that I feel awful.14300:10:21,360 --> 00:10:23,413Ha ha ha ha ha!14400:10:23,413 --> 00:10:25,466Ha ha ha ha ha!14500:10:25,466 --> 00:10:27,518Ha ha ha ha ha!14600:10:27,518 --> 00:10:29,571Ha ha ha ha ha!14700:10:29,571 --> 00:10:31,624Ha ha ha ha ha!14800:10:31,624 --> 00:10:33,677Ha ha ha ha ha!14900:10:33,677 --> 00:10:35,729Ha ha ha ha ha!15000:10:36,070 --> 00:10:36,770Ha ha ha ha ha!15100:10:36,770 --> 00:10:41,690Is that it?15200:10:46,290 --> 00:10:47,410Hello, Dr.15300:10:47,410 --> 00:10:47,720Chalk!15400:10:48,550 --> 00:10:48,860Yes.15500:10:49,045 --> 00:10:53,205Oh, sorry.15600:10:54,385 --> 00:10:57,105I have a question regardingthe advance directive.15700:10:57,265 --> 00:10:57,525Yes.15800:10:57,535 --> 00:11:00,525When you officially fillout the advance directive.15900:11:01,515 --> 00:11:03,415After you fill out everything.16000:11:04,120 --> 00:11:09,480Is it a particular paper that justgoes with you wherever you go?16100:11:09,480 --> 00:11:14,530So if you're admitted in thehospital or you have a procedure or16200:11:14,530 --> 00:11:18,870whatever, do you just have that onhand and you just bring it with you16300:11:18,870 --> 00:11:20,710from home after you have it done?16400:11:20,830 --> 00:11:23,549Or does it expire and you have to redo it?16500:11:23,550 --> 00:11:24,800That's an excellent question.16600:11:24,810 --> 00:11:28,914Your question is, once I've done myadvanced directive, what do I do with it?16700:11:29,495 --> 00:11:31,465And that, that's, that's,that's an excellent question.16800:11:31,675 --> 00:11:33,885One, you should keep a copy for yourself.16900:11:34,295 --> 00:11:38,925It is a good idea that you keep a copyat home, you know, where, where you17000:11:38,925 --> 00:11:41,485normally keep important documents.17100:11:41,705 --> 00:11:44,735And I would certainly recommendthat you give it to your doctor.17200:11:44,735 --> 00:11:47,515Like, if you have a GP orregular doctor that you go to,17300:11:47,805 --> 00:11:49,435that, that you give them a copy.17400:11:49,815 --> 00:11:53,125If you are admitted to thehospital, say an elective admission,17500:11:53,405 --> 00:11:56,525That you take a copy with youdoing your elective admission.17600:11:56,855 --> 00:12:00,575I didn't mention it, but youjust reminded me, all hospitals17700:12:00,585 --> 00:12:05,955now must ask you on admission ifyou have an advanced directive.17800:12:06,295 --> 00:12:07,385It's a requirement.17900:12:07,775 --> 00:12:10,555And when I worked with the JointCommission and we were accredited18000:12:10,565 --> 00:12:13,805hospitals, we would go through therecord and make sure they have to18100:12:13,815 --> 00:12:15,445ask that of every single patient.18200:12:15,715 --> 00:12:18,345But at least you should keepit in a safe place at home.18300:12:18,605 --> 00:12:21,035I would keep it like inyour car or whatever.18400:12:21,245 --> 00:12:23,505And you do want to giveit to your health care.18500:12:24,200 --> 00:12:27,380Individuals, your doctor orthe hospital that you go to.18600:12:28,790 --> 00:12:29,170Thank you.18700:12:31,430 --> 00:12:32,800Could I add one thing?18800:12:33,040 --> 00:12:36,610With regard to your wills, trusts,and all your documents, you18900:12:36,610 --> 00:12:40,690want to tell some trusted personwhere they can find the document.19000:12:41,330 --> 00:12:43,870Because if you don't tellsomebody where to find it, then,19100:12:44,530 --> 00:12:46,070you know, you, you, you die.19200:12:46,260 --> 00:12:48,950And then they're trying to findthe documents and where is it?19300:12:48,950 --> 00:12:54,280And so if there's someone you trust, justtell them where to find it and maybe give19400:12:54,280 --> 00:12:55,969them a lock if it's under lock and key.19500:12:56,300 --> 00:13:00,030Key tell 'em where to find the key orhow, or give them a key so that they19600:13:00,030 --> 00:13:02,570can quickly locate your documents.19700:13:05,130 --> 00:13:06,960Attorney Brown, I have a quickquestion that my read some19800:13:06,960 --> 00:13:12,750information that says, in the stateof California, when a spouse dies.19900:13:13,170 --> 00:13:19,440If there's a will, the wife doesn'tautomatically get all of the property20000:13:19,500 --> 00:13:23,610the wife may get, or the survivspouse may get half of the property,20100:13:23,760 --> 00:13:28,660especially in consideration withchildren and possibly other relatives.20200:13:28,665 --> 00:13:29,500Could you clarify?20300:13:29,620 --> 00:13:32,500Generally speaking, the wifedoes get all of the property20400:13:32,500 --> 00:13:34,360except for separate property.20500:13:35,160 --> 00:13:37,230There are two categories,basically of property.20600:13:37,895 --> 00:13:41,675There's community property,which is all property that you20700:13:41,675 --> 00:13:43,385acquire during the marriage.20800:13:43,765 --> 00:13:50,085And generally speaking, thatgoes directly to the surviving20900:13:50,095 --> 00:13:53,125spouse when one spouse dies.21000:13:53,715 --> 00:13:55,975Now there's what's knownas separate property.21100:13:56,335 --> 00:13:58,545A spouse can have separate property.21200:13:58,555 --> 00:14:05,145Separate property is property that youeither inherited or was gifted to you.21300:14:05,445 --> 00:14:07,805It can be during the, the marriage.21400:14:07,805 --> 00:14:12,385So let's say there's husband andwife and let's say the wife's21500:14:12,745 --> 00:14:17,955parent Gave her property during,as part of a will, and she received21600:14:17,955 --> 00:14:19,905that property during the marriage.21700:14:19,945 --> 00:14:23,835That's her own separate property,even though it's during the marriage.21800:14:23,835 --> 00:14:27,915So that would not transferautomatically to the husband.21900:14:28,245 --> 00:14:33,985It depends on whether you have a will, ora trust, or whether you don't have a will,22000:14:34,235 --> 00:14:37,145as to how that property would transfer.22100:14:37,195 --> 00:14:38,585But it's not automatic.22200:14:39,090 --> 00:14:40,760to all of it to the husband.22300:14:41,140 --> 00:14:45,210If it's separate, the wife's,the spouse's separate property.22400:14:45,210 --> 00:14:52,301Okay, I inherently I stay insideand I die in the sitting inside.22500:14:52,301 --> 00:14:53,139Well, the22600:15:00,739 --> 00:15:06,759law, that can be a real interestingthing because you may have to22700:15:07,129 --> 00:15:13,374initiate, the children may haveto initiate a probate In the other22800:15:13,374 --> 00:15:16,554state where the property is located.22900:15:16,734 --> 00:15:21,394If the property is located in anotherstate there's some complicated rules.23000:15:21,824 --> 00:15:25,484With regard to that, but it ispossible that you could have23100:15:25,664 --> 00:15:28,654simultaneous probate proceedings.23200:15:29,054 --> 00:15:34,014One in one state where certain property islocated and another proceeding in another23300:15:34,014 --> 00:15:36,124state where other property is located.23400:15:36,644 --> 00:15:41,244So, we could discuss thatfurther in the breakout session.23500:15:46,974 --> 00:15:47,104Thank you.