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We currently have a Living Trust which seems convoluted to me. Can I just have a notarized statement stating that all of our assets (about $3mil) shall be divided equally amongst our 3 nephews upon our demise. We live in California.
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In my experience, those who believe they are "simplifying" their estate plan often make it very difficult for the very people who are intended to receive the estate. The "convoluted" living trust provides for all types of possible contingencies that your notarized statement won't cover.
Answered on Jan 23rd, 2015 at 3:44 PM
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