Passing It On: Estate Planning for Families

Hosted by Michael Pevney

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240

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Aug 2026

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EN-US

About the show

California estate planning lawyer Michael Pevney discusses various topics regarding the important world of estate planning. Living trusts. Revocable trusts. Wills. Durable power of attorney. Advance healthcare directives. Estate planning is extremely important for every family that wants to control what happens to their bodies and their property both while they're alive and after they pass away.

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August 19, 20266 min

How to Pick A Power of Attorney in California

Who Should Be Your Financial Power of Attorney in California? If you were suddenly hospitalized and unable to manage your own finances, who would pay your mortgage, handle your bills, deal with your bank, and sign financial documents on your behalf? That is one of the most important questions a Financial Power of Attorney is designed to answer. In this video, I explain what a Financial Power of Attorney does, who you may want to choose for that role, and why simply being a spouse or adult child does not automatically give someone authority to handle all of your financial affairs. I also discuss: • What a Financial Power of Attorney actually does • Why this document is an important part of a complete California estate plan • Why trustworthiness and financial responsibility matter when choosing an agent • Why I generally recommend naming at least one alternate • Why geography and availability can matter • The difference between a Power of Attorney that takes effect immediately and a "springing" Power of Attorney • Why a springing Power of Attorney may require proof of medical incapacity before it can be used • Why banks and other financial institutions may carefully review these documents before allowing someone to act • Why the person you choose must actually be willing to serve For many married couples, a spouse may be the first choice. For others, a responsible adult child, family member, or another trusted person may be appropriate. The important thing is to choose someone you trust to responsibly manage your financial life if you are unable to do it yourself. I also believe it is important to have backup choices. People pass away, become incapacitated themselves, move away, or simply decide they are not willing to take on the responsibility. My name is Michael Pevney, and I am an estate planning lawyer in California. I create estate plans for individuals and families that may include living trusts, wills, financial powers of attorney, advance healthcare directives, and other important estate planning documents. For more information about California estate planning, visit: https://www.ocestateplanlawyer.com/ Pevney Estate Planning, PC 25231 Paseo de Alicia, Suite 101 Laguna Hills, CA 92653 Please subscribe for more information about California estate planning, living trusts, powers of attorney, probate, wills, and protecting your family and assets. #CaliforniaEstatePlanning #PowerOfAttorney #FinancialPowerOfAttorney #EstatePlanning #LivingTrust #CaliforniaLivingTrust #OrangeCountyEstatePlanning #EstatePlanningAttorney

August 17, 20263 min

Will vs Trust in California: Which Estate Plan Is Best?

Should you have a will or a living trust in California? The answer depends on what you own, your family situation, and how you want your assets handled after you pass away. In this video, I explain some of the key differences between a will and a revocable living trust in California and why many California homeowners and parents may want to consider a trust as the centerpiece of their estate plan. I cover: • Why assets passing through a will may still have to go through California probate • How a properly funded living trust can help avoid probate • Why California real estate can make trust planning particularly important • How beneficiary designations can allow certain financial accounts to pass outside of a will • Why a simpler will-based estate plan may be appropriate for some people • How a living trust can give parents more control over when and how children receive an inheritance • Why I don't necessarily want my own young children receiving their entire inheritance at age 18 There isn't one estate plan that's right for every California family. The goal is to create a plan based on your assets, your family, and what you actually want to happen to your property. My name is Michael Pevney, and I create estate plans for families throughout California. For more information about California estate planning, living trusts, wills, powers of attorney, probate avoidance, and complete estate plans, visit my website: https://www.ocestateplanlawyer.com/ Pevney Estate Planning, PC 25231 Paseo de Alicia, Suite 101 Laguna Hills, CA 92653 #CaliforniaEstatePlanning #LivingTrust #CaliforniaLivingTrust #EstatePlanning #WillVsTrust #CaliforniaProbate #RevocableLivingTrust #OrangeCountyEstatePlanning

August 15, 20263 min

Dave Ramsey's WORST Estate Planning Advice EXPOSED!

Dave Ramsey recently said that unless you have a net worth in excess of $100 million, you probably don't have a need for trusts. As a California estate planning attorney, I have a very different perspective. One of the biggest misconceptions about living trusts is that they're only for extremely wealthy families. Estate tax planning and probate planning are two very different things. While sophisticated irrevocable trusts may be used by families with significant wealth for tax and asset-planning purposes, a revocable living trust can serve much more ordinary estate-planning goals. In California, whether a living trust makes sense isn't simply a question of whether you're worth $1 million, $10 million, or $100 million. Among other things, I look at what someone owns, how those assets are titled, whether they own real estate, who they want to inherit their property, how they want assets managed in the event of incapacity, and what would happen to those assets at death. I'm Michael Pevney, a California estate planning attorney and founder of Pevney Estate Planning. On this channel, I discuss wills, living trusts, probate, powers of attorney, advance health care directives, trust administration, and other California estate-planning issues in plain English. Topics covered in this video: Dave Ramsey and living trusts • Revocable living trusts • California probate • Wills vs. trusts • Probate avoidance • California estate planning #EstatePlanning #LivingTrust #FillThatBucket #Pevney #financialfreedom #orangecounty

June 10, 20266 min

Estate Planning Nightmare Scenario #2: The Family That Waited

What happens when someone receives a serious medical diagnosis, speaks with an estate planning attorney, and then decides to wait? In this video, I share another real-world estate planning story that almost ended very differently. A family contacted me after receiving a serious health diagnosis. We had a full consultation, discussed their options, reviewed how a living trust could protect their family, and talked about avoiding probate. Everything was ready to move forward. But they waited. Months later, I received another call. The diagnosis had progressed. The client was now hospitalized, and what could have been a straightforward estate planning process became a race against the clock. In this video, I discuss: ✔️ Why families often delay estate planning after a diagnosis ✔️ How quickly a health situation can change ✔️ The challenges of creating a trust during a medical crisis ✔️ Capacity requirements and physician certifications ✔️ Coordinating hospital signings and notaries ✔️ How we were ultimately able to avoid probate ✔️ Why planning from a position of strength is always better Thankfully, we were able to complete the estate plan, transfer the real estate into the trust, and avoid what could have been a lengthy and expensive California probate proceeding. But it did not have to be that stressful. One of the biggest misconceptions I see is that people believe they have more time than they actually do. Even after receiving a diagnosis, many families become overwhelmed with treatment decisions, appointments, and emotional stress. Estate planning gets pushed to the side until suddenly it becomes urgent. The lesson from this story is simple: Don't wait until you're in a hospital bed to start planning. The best estate plans are created when you have time to think, time to ask questions, and time to make thoughtful decisions about your family, your finances, and your legacy. Whether you create a trust with an attorney, update an old plan, or simply begin the conversation, doing something is almost always better than doing nothing. If you have an estate planning question, leave it in the comments. I try to answer as many as I can. 📍 California Estate Planning Attorney Pevney Estate Planning, PC 25201 Paseo de Alicia, Suite 140 Laguna Hills, CA 92653 🌐 Visit my website: https://www.ocestateplanlawyer.com/ Schedule a Free Strategy Session: https://www.ocestateplanlawyer.com/ I help families throughout California create living trusts, wills, powers of attorney, healthcare directives, and complete estate plans designed to avoid probate and protect loved ones.

March 25, 202612 min

I'm the Trustee Now — What Happens Next?

What happens when the people who created a living trust pass away and I am now the one in charge as trustee? In this episode, I walk through what a successor trustee actually does after death, what trust administration looks like, and why a properly funded living trust can help a family avoid probate in California. I explain why trust administration does not happen automatically, even when there is a trust in place. I also cover the practical steps a trustee may need to take, including locating the trust documents, identifying assets, protecting property, getting death certificates, notifying banks and beneficiaries, obtaining a tax ID number, opening a trust bank account, keeping records, and handling distributions properly. I also talk about the difference between a simple trust administration and a more complex long-term trust administration . In some situations, a trustee may be able to handle things personally. In more complicated cases, especially those involving special needs trusts , rental properties, ongoing management, or annual tax filings, it may make sense to bring in an attorney, accountant, or financial advisor. In this episode, I discuss: What happens after the creators of a trust pass away What a successor trustee is responsible for Why a living trust can help avoid probate Why trust administration is still real work What it means to be a fiduciary How trustees protect beneficiaries and protect themselves Simple trust administration versus more complicated trust situations When professional help may be a smart idea If you have questions about estate planning , living trusts , probate , trust administration , or powers of attorney , visit my website. Pevney Estate Planning, PC 25201 Paseo de Alicia Suite 140 Laguna Hills, CA 92653 https://www.ocestateplanlawyer.com/

March 5, 202612 min

Why Estate Planning Is Really About Control

Control over your assets, your healthcare decisions, and your legacy — both while you are alive and after you pass away. In this episode, I explain why estate planning is not just about what happens when you die. A proper estate plan actually gives you control during your lifetime if you become unable to make financial or healthcare decisions.I also walk through the key documents that make up a complete estate plan, including: Revocable living trusts Financial powers of attorney (durable power of attorney) Advanced healthcare directives in California Choosing trustees and successor trustees Naming alternate decision-makers Why flexibility is essential in estate planning One of the biggest benefits of a revocable living trust is that it allows you to change your plan over time. Life changes — marriages, divorces, births, deaths, and changes in family relationships — and your estate plan should be able to change with it. I also discuss how estate planning allows you to control how and when beneficiaries inherit assets , including situations where distributions might be unequal or structured to protect assets from divorce, lawsuits, or poor financial decisions. If you want to protect your family, maintain control over your decisions, and ensure your legacy is handled the way you intend, this episode will give you a clear overview of how estate planning works. My name is Michael Pevney , and I am an estate planning lawyer in California. I help families create estate plans that protect their assets and avoid probate. Ask an estate planning question in the comments , and follow the podcast for more estate planning information. There's a good chance I've already answered your question in another episode. If you live in California and want to learn more about creating a complete estate plan, visit my website: 👉 https://www.ocestateplanlawyer.com/ Pevney Estate Planning, PC 25201 Paseo de Alicia Suite 140 Laguna Hills, CA 92653

February 26, 202611 min

How to Shield an Inheritance from Divorce and Lawsuits

If I left my child a million dollars tomorrow, would it actually be protected from divorce? In this episode, I walk through how inheritance works in California — especially in a community property state like ours — and why simply leaving assets outright to your kids can create serious risk. As an estate planning attorney here in California, I see this mistake all the time. Parents assume that because inheritances are considered separate property, their child's inheritance is automatically safe. But that's only true if the money is handled correctly. If inherited funds are deposited into a joint account, used to pay down a mortgage, or commingled with marital assets, that "separate property" can quickly become community property. And once that happens, it can be exposed in a divorce. In this episode, I explain: • Why inheritances are separate property in California — but only if kept separate • How commingling can unintentionally convert inheritance into community property • Why paying off real estate with inherited funds can create exposure • Why simply telling your kids to "keep it separate" isn't enough • How I use properly drafted revocable living trusts to build protection • When I recommend a third-party trustee • How lifetime asset protection trusts can preserve generational wealth • When prenuptial or postnuptial agreements make sense This planning is especially important in Orange County and throughout Southern California, where real estate appreciation can be substantial. I've seen inherited property grow dramatically in value — and without proper structure, both the original inheritance and the growth can be at risk. If I want to protect my child's inheritance from divorce, bankruptcy, lawsuits, substance abuse issues, or even just poor financial decisions, the key is simple: I do not leave assets outright. I use a properly structured trust. For most California homeowners, a revocable living trust is the foundation. It allows me to avoid probate, control how assets are distributed, and build meaningful protection for the next generation. If you live in Orange County or anywhere in California and it's time to create or update your estate plan, I invite you to schedule a free estate planning strategy session. Visit: https://www.ocestateplanlawyer.com/ Pevney Estate Planning, PC 25201 Paseo de Alicia Suite 140 Laguna Hills, CA 92653

February 23, 202611 min

How to Leave an Inheritance to a Child with Addiction Issues (Without Making It Worse)

What happens if you leave a large inheritance to a child who is struggling with substance abuse, gambling, or serious financial irresponsibility? In this episode, I explain why leaving money outright to a vulnerable beneficiary can unintentionally cause real harm — and what I do instead when I design estate plans for families here in California. When you leave money outright, it goes directly into someone's name with no strings attached. That lump sum can: • Accelerate addiction • Attract the wrong people • Become vulnerable to divorce, bankruptcy, or lawsuits • Disappear very quickly I've seen how a well-intentioned inheritance can actually make a difficult situation worse. That's why I often use properly structured revocable living trusts to protect beneficiaries — while still supporting them. In this episode, I walk through: • Why outright inheritances can be dangerous • How I structure trusts to keep assets protected • Paying rent, tuition, medical care, and rehab directly from the trust • Using drug testing or sobriety milestones when appropriate • Giving trustees discretion to pause distributions if necessary • Protecting assets from divorce, creditors, and financial predators • How a living trust avoids the expensive and public California probate process This isn't about punishment. It's about protection. It's about preserving your legacy while protecting someone during a vulnerable time in their life. If you live in Orange County or anywhere in California and you haven't set up a full estate plan — including a living trust, power of attorney, and advance healthcare directive — I encourage you to take that step. You can learn more or schedule a free strategy session at: 👉 https://www.ocestateplanlawyer.com/ Pevney Estate Planning, PC 25201 Paseo de Alicia Suite 140 Laguna Hills, CA 92653 Subscribe for more California estate planning education, and feel free to reach out if you're serious about protecting your family and your legacy.

February 4, 20267 min

What Happens to Your Pets When You Die?

What Happens to Your Pets When You Die? What actually happens to your pets when you die? In this podcast, I walk you through the 4 main ways you can make sure your animals—dogs, cats, birds, snakes, tortoises, even horses—are properly cared for after you're gone. As an estate planning lawyer here in California, I've helped clients set up everything from informal pet plans to formal pet trusts with thousands set aside for care. Here's how to do it right. 👇 Click below to jump to a section: 0:00 - Introduction 1:32 - What happens without an estate plan 3:15 - Informal agreements with friends or family 4:42 - Leaving pets to someone in a will or trust 6:10 - Pet trusts: setting money aside & naming guardians 8:00 - Long-lived pets you must plan for 10:02 - How to get started with your estate plan ⸻ 💡 Key takeaway: If you don't make a plan, your pets could end up at the shelter—or worse. But with a trust, you can name pet guardians, leave money, and even name a rescue organization as a backup. 📍 I'm located in Orange County but I serve clients throughout California. If you're ready to set up your estate plan—or revise one to include pet provisions—I'm here to help. 📍 Pevney Estate Planning, PC 25201 Paseo de Alicia Suite 140 Laguna Hills, CA 92653 🔗 Schedule your FREE strategy session here: https://www.ocestateplanlawyer.com ⸻ 👍 Like this podcast if it helped you 📲 Follow me for more estate planning info 📝 Drop a question in the comments—I might answer it in a future video! #EstatePlanning #PetTrust #LivingTrust #CaliforniaLawyer #OrangeCountyEstatePlanning #PetEstatePlanning #PevneyEstatePlanning

January 12, 202614 min

When Is a Will Enough — And When Do You Really Need a Trust?

In this episode, I dive into one of the most common estate planning questions I get: Is a will enough? Or do I need a trust? I break down when a will might be appropriate — and why, in most cases here in California, it falls short. Especially if you own real estate or have young kids, relying on just a will could cost your family tens of thousands of dollars and years of court time. You'll learn: What a will actually does (and doesn't do) Why a will does NOT avoid probate in California The types of people who might be okay with a will When a living trust becomes essential How probate works — and why we want to avoid it at all costs Why control matters when passing assets to kids or beneficiaries The 2 other must-have documents: Power of Attorney and Advance Healthcare Directive Whether you're starting your estate plan or just trying to figure out the difference between a will and a trust, this episode will give you a solid foundation. 👋 I'm Michael Pevney, an estate planning lawyer based in Orange County. I help families all over California set up custom estate plans that protect what they've built and avoid court. 🔗 Book a free strategy session with me at https://www.ocestateplanlawyer.com 📍 Pevney Estate Planning, PC 25201 Paseo de Alicia, Suite 140 Laguna Hills, CA 92653 #EstatePlanning #LivingTrust #WillsVsTrusts #ProbateCalifornia #CaliforniaLawyer #OrangeCountyEstatePlanning #TrustLawyer #PevneyEstatePlanning