CA CLS Estate Planning key terms

The default statutory scheme that distributes a decedent's property when no valid will governs it, prioritizing a surviving spouse, descendants, and other blood relatives in a fixed order.

The process by which property with no identifiable heirs passes to the State of California; the state takes only after diligent search fails to locate any statutory taker.

A distribution method dividing a deceased beneficiary's share among that beneficiary's own descendants, so each family branch receives an equal portion regardless of how many children it holds.

A taking by a descendant who steps into the shoes of an ancestor and receives the share the ancestor would have taken had the ancestor survived the decedent.

A simplified California procedure letting a successor collect personal property of modest value without formal probate by swearing to the decedent's date of death and the claimant's entitlement.

The court-supervised process for validating a will, appointing a personal representative, marshaling assets, paying debts and taxes, and distributing the remaining estate to beneficiaries.

The fiduciary appointed to administer an estate, whether named as executor in a will or serving as administrator when the decedent died intestate.

The court-issued document authorizing an executor to act on the estate's behalf, including accessing accounts, transferring title, and defending or bringing claims.

A California summary procedure confirming a surviving spouse's ownership of community property or property passing outright to the spouse, avoiding full probate administration.

A person who makes a will; capacity requires understanding the nature of the act, the property owned, and the natural objects of one's bounty.

The minimal mental standard for executing a valid will: knowing the act, the estate's nature, and one's heirs, absent delusion that distorts the disposition.

Pressure that overcomes a testator's free will and substitutes another's intent, often presumed where a confidential relationship and suspicious circumstances surround a bequest.

A separate instrument that amends, adds to, or revokes parts of an existing will while leaving the balance of the original document intact; it must be executed with will formalities.

A will written entirely in the testator's own handwriting and signed by the testator, requiring no witnesses under California law if its material terms are clear.

A will that directs leftover probate assets into an existing trust, ensuring property omitted from trust funding is still governed by the trust's terms.

A trust created during life that the settlor may amend or revoke, holding assets for management and passing them to beneficiaries without probate at death.

The act of retitling assets into a trust's name so the trustee controls them; unfunded assets bypass the trust and may require probate.

The person or institution named to serve as trustee after the original trustee dies, resigns, or becomes incapacitated, taking on all fiduciary duties.

The core obligations of loyalty, impartiality, prudent investment, accounting, and avoidance of self-dealing that a trustee owes to current and future beneficiaries.

An investment standard judging a trustee's portfolio decisions as a whole by risk and return appropriate to the trust's purposes, rather than asset by asset.

A fiduciary's transaction benefiting the fiduciary personally at the trust's expense, generally prohibited absent express authorization or informed consent.

A court proceeding requiring a trustee to report receipts, disbursements, and asset changes so beneficiaries may approve the account or object to misconduct.

Property acquired by a married couple during marriage through labor or earnings, in which each spouse holds an equal ownership interest under California law.

Property owned by one spouse alone, such as premarital assets, gifts, or inheritances received during marriage, and its rents and profits if kept traceable.

The accounting method identifying the source of commingled funds so that community and separate contributions to an asset can be allocated fairly.

The lifetime amount of transfers a decedent may make free of federal estate tax; it is portable to a surviving spouse with a timely filed election.

The ability of a surviving spouse to use a deceased spouse's unused federal exclusion amount, available only if a timely estate tax return is filed.

A federal tax imposed on transfers to grandchildren or others more than one generation below the transferor, layered on top of gift and estate tax.

The rule resetting an asset's income tax basis to fair market value at the owner's death, eliminating gain accrued during the decedent's lifetime.

Taxation of income earned by an estate or trust during administration, with the entity taxed on retained income and beneficiaries taxed on distributions.

The trust or estate's receipt-and-disbursement measure that determines how much income beneficiaries receive, distinct from taxable income reported to the IRS.

A California document naming an agent for health care decisions and stating treatment preferences, effective only when the principal lacks capacity.

A written authorization letting an agent manage property and financial affairs, which survives the principal's later incapacity if it contains the required durability language.

A situation where a lawyer's or fiduciary's personal or third-party interests could impair duties owed to the client or beneficiary, requiring disclosure and informed consent.

The coordinated process of arranging asset ownership, beneficiary designations, incapacity documents, and transfer mechanisms to meet a client's family and tax objectives.