As you create your estate plan, your attorney will walk you through the various options for how to structure your trust. A common pot is one technique for holding, dividing, and distributing the assets of a living trust in California. The common pot is a planning perspective that holds all assets in one lump share until a pre-determined point. Distributions are made based upon need, using guidelines that you choose when you draft the trust. This technique, however, is not right for everyone.

Who might benefit from the use of a common pot trust when creating an estate plan in California? The following are examples:

  • People with children who are several years apart in age.
  • People who have a child that is ill or who has special needs.
  • People who place a priority on all of their children receiving an opportunity for education over a numerically equitable division of their assets.
  • People who have successor trustees that are fair, responsible, and will avoid favoritism among the beneficiaries. 
  • People who want their children to receive assets based on need rather than equality.

Unless you are experienced in the area of estate planning, it is not always easy to understand the options that are available to you as you create your plan. Fortunately, the knowledgeable Orange County trust attorneys at the Law Office of James F. Roberts & Associates, APC, are here to help. We will guide you through the process of considering the various factors that affect your specific plan. Call our office today at (714) 459-5481 for a consultation.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm
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