The possibility of a couple or close family members passing away at or near the same time, while thankfully rare, is a genuine concern that estate planning attorneys like Steve Bliss address with careful foresight. Planning for such “simultaneous death” scenarios isn’t about predicting the unpredictable, but about minimizing confusion, delays, and potential financial loss in the event the unexpected happens. Approximately 1-3% of deaths are considered “sudden unexplained death” and can occur in groups, highlighting the need for proactive planning, even if the odds seem low. Effective planning involves specific provisions within your estate plan, like trusts and carefully worded wills, that account for the possibility that beneficiaries may not survive you.
What happens if both parents die together with a will?
When both parents die simultaneously with a will, it can trigger a complex legal process called “concurrent death.” Historically, this meant significant delays and legal battles to determine who inherited what, particularly if the wills didn’t anticipate this scenario. The Uniform Simultaneous Death Act, adopted in most states, including California, provides a framework, but doesn’t solve every problem. The Act generally presumes that each person is considered to have survived the other for a very brief period, enough to execute their will, but it can still lead to complications if assets are jointly owned or if beneficiary designations are unclear. “We often recommend a ‘shared contingency plan’ within the will or trust, designating alternate beneficiaries if primary beneficiaries don’t survive,” Steve Bliss explains. This ensures that assets don’t get tied up in probate for extended periods.
How do trusts help in a simultaneous death situation?
Trusts, particularly revocable living trusts, offer a more streamlined approach to handling simultaneous death scenarios. Unlike wills, which require court probate, a trust allows assets to pass directly to beneficiaries according to the trust’s instructions, bypassing the often lengthy and costly probate process. A well-drafted trust can specify exactly how assets should be distributed if multiple beneficiaries pass away around the same time. This could involve distributing their share to alternate beneficiaries, or to their descendants, as the grantor (the person creating the trust) desires. “We recently helped a family where a couple was tragically lost in a car accident. Because they had a carefully crafted trust, their children received their inheritance within weeks, instead of potentially years had they relied solely on a will.” That’s a testament to the power of proactive estate planning.
What about assets held jointly with right of survivorship?
Jointly held assets with right of survivorship automatically pass to the surviving owner, regardless of what’s stated in a will or trust. While seemingly simple, this can become problematic in a simultaneous death scenario. If both owners die at the same time, the asset may have to go through probate as if it were individually owned. Consider the story of old Mr. Henderson. He and his wife owned their home jointly with right of survivorship, along with substantial investment accounts. Tragically, they were both caught in a flash flood while hiking. Without a contingency plan in their will or trust, the home and investments became embroiled in a probate battle lasting over a year. Had they included a provision specifying how these assets should be divided among their children if they both died simultaneously, the process would have been much smoother. This is why it is vital to make sure that all the pieces are in alignment.
Can beneficiary designations on accounts override a will in a simultaneous death?
Absolutely. Beneficiary designations on accounts like life insurance policies, retirement accounts (401(k), IRA), and brokerage accounts generally supersede the instructions in a will. This is why it’s crucial to coordinate these designations with your overall estate plan. I recall working with a client, a successful doctor, who had a beautifully crafted will and trust. However, he hadn’t updated the beneficiary designation on his $2 million life insurance policy after his divorce. When he passed away unexpectedly, the ex-wife received the entire death benefit, despite his clear intentions for his current spouse and children to receive it. It was a painful lesson about the importance of regularly reviewing and updating all aspects of your estate plan. Steve Bliss emphasizes, “Estate planning is not a one-time event; it’s an ongoing process that needs to be revisited as your life changes. Regular reviews of beneficiary designations and your overall plan are essential.”
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About Steve Bliss at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Estate Planning Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Services Offered:
| estate planning | revocable living trust | wills |
| living trust | family trust | irrevocable trust |
Map To Steve Bliss Law in Temecula:
https://maps.app.goo.gl/oKQi5hQwZ26gkzpe9
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Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760)884-4044
Feel free to ask Attorney Steve Bliss about: “Can I disinherit someone in my will?” Or “What happens to jointly owned property during probate?” or “Is a living trust private or does it become public like a will? and even: “What is a bankruptcy trustee and what do they do?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.