Passing It On: Estate Planning for Families

Hosted by Michael Pevney

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238

Latest episode

Jun 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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60 recent

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

December 31, 202513 min

Why I Won't Be Your Trustee — And Who You Should Choose Instead

In this episode, I'm diving into one of the most important — and often misunderstood — parts of estate planning: choosing the right successor trustee. This isn't about who gets your assets. It's about who gives them out, and whether they're equipped to do it properly, fairly, and without conflict. I explain: What a trustee is actually responsible for after you pass Why I don't serve as a trustee for my clients — and why your lawyer probably shouldn't either A real story from a client who realized too late that naming their attorney as trustee didn't feel right Better options to consider: adult children, trusted friends, professional fiduciaries, or banks How separating the roles of legal advisor and trust administrator helps your family avoid conflict If you've already set up a trust, this is a great reminder to check who you've listed as trustee. If you haven't, this is the kind of thing that can make or break your estate plan. 📍 I'm Michael Pevney, an estate planning attorney in Orange County, California. I help families across the state protect their assets, avoid probate, and create peace of mind through clear, customized estate plans. 💻 Need help reviewing or updating your plan? Book a free strategy session at: https://www.ocestateplanlawyer.com 📍 Pevney Estate Planning, PC 25201 Paseo de Alicia, Suite 140, Laguna Hills, CA 92653

December 24, 20257 min

Why Brides Don't Wear Their Mom's Wedding Dress — And What That Has to Do with Estate Planning in Ca

Most brides don't wear their mom's wedding dress. Why not? It's sentimental, meaningful… and yet, rarely used. In this episode, I'll explain what this has to do with estate planning, family homes, and why passing down property the wrong way can create major conflict between siblings when a parent passes away. 👋 I'm Michael Pevney, estate planning attorney and founder of Pevney Estate Planning, PC, based in Orange County, California. I help California families protect their legacy through wills, living trusts, powers of attorney, and full estate plans—so that their families stay out of court and out of conflict. Just like most brides want a wedding that feels uniquely theirs, your kids may not want your home—even if it holds decades of memories. So what happens when you leave it to multiple children? One might want to live there, one wants to sell, and another wants to rent it out. That's where the fights begin. 💡 In this episode, I cover: • Why emotions play such a big role in estate planning • The hidden danger of leaving your house to multiple kids • How to avoid probate and forced home sales • The best way to pass down real estate in a trust while preserving family harmony 💬 Got a story or a question? Did you or someone you know wear a parent's wedding dress? Planning to pass one down? Share in the comments—and drop your estate planning questions too 📌 Need help with estate planning in California? Schedule a free strategy session today: 👉 https://www.ocestateplanlawyer.com 📍 Pevney Estate Planning, PC 25201 Paseo de Alicia, Suite 140 Laguna Hills, CA 92653

December 11, 202511 min

Protect Your Child's Inheritance with a Spendthrift Trust

Would your child make wise choices if they inherited $1 million tomorrow? If you're not sure—or if the answer is "definitely not"—this video is for you. I'm Michael Pevney, an estate planning lawyer based in Orange County, California, and today we're talking about spendthrift trusts—one of the most powerful tools in estate planning. A spendthrift trust allows you to leave assets like real estate, life insurance, and financial accounts to your children or loved ones—without giving them total control. That means your legacy stays protected from: • Substance abuse or addiction issues • Gambling or impulsive financial behavior • Divorce settlements • Bankruptcy or lawsuits • And most importantly, from your child's own bad decisions 🧠 With a properly designed spendthrift trust, your child can benefit from your legacy, without putting it at risk. You can set: • Age-based distributions (like 25, 30, 35) • Milestones (graduation, job, sobriety) • Limits on how and when money is accessed • A third-party trustee (your child should not be in control of their own inheritance) Whether your child is financially inexperienced, in a rocky relationship, or facing personal challenges, this type of trust provides control, protection, and peace of mind. ✅ Who should watch this video: • California parents with adult or young adult children • Anyone concerned about a child with addiction, financial irresponsibility, or an unstable partner • Families with real estate, life insurance policies, or other sizable assets 📍 Want to protect your children and your legacy? 🔗 Schedule 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 💬 Have questions? Leave a comment below — I respond to most estate planning questions, and I've made over 1,000 videos covering common issues. Yours might be next. 📲 Don't forget to like, subscribe, and follow for more estate planning tips!