By Heather Katzenstein, MBA, CTFA
Trust Services Director | October 16, 2025
At Parallel Advisors, we have always believed that true wealth management extends beyond investments; it's about protecting what matters most to you and your family. Today we're proud to introduce Parallel Trust Company of California, our newly launched trust company designed to provide seamless estate planning, trust administration, and legacy protection – all within one trusted partnership.
With over 20 years' experience in trust administration, I have been privileged to guide families through some of their most personal and complex transitions. I am happy to share my unique perspective on successful estate planning and common pitfalls to avoid.
One of the most common misconceptions I encounter is that wills and trusts are only for the wealthy. In reality, these tools offer critical protection and clarity for individuals and families at every stage of life and wealth. Whether you're just starting your career, raising a family, or planning for retirement, having the right estate planning documents in place ensures your wishes are honored and your loved ones are protected.
A will is a legal document that specifies how you wish your assets to be distributed upon your death. It allows you to name beneficiaries, designate guardians for minor children, and appoint an executor to manage your estate. However, it's important to understand that a will must go through probate—a public, costly, and time-consuming court process.
A revocable living trust, on the other hand, is administered by a trustee and allows you to transfer assets privately and efficiently during your lifetime, avoiding probate and ensuring continuity if you become incapacitated. Using a corporate trustee, like Parallel Trust Company of California, provides professional, impartial administration throughout the process.
| Feature | Will | Trust |
|---|---|---|
| Effective Date | At Death | Immediately |
| Avoids Probate Court | No | Yes |
| Provides Incapacity Plan | No | Yes |
| Requires Funding | No | Yes |
| Privacy | Public Record | Private |
| Maximum Control to Creator | No | Yes |
| Names Guardian for Minors | Yes | No |
| Immediate Asset Transfer | No | Yes |
While a living trust is a powerful tool for managing and transferring assets, it doesn't cover everything. That's why most comprehensive estate plans include both a living trust and a "pour-over" will. The will acts as a safety net, ensuring that any assets not transferred to the trust during your lifetime are "poured over" into the trust upon your death. Additionally, a will is essential for naming guardians for minor children—something a trust cannot do.
Together, these documents provide comprehensive protection for your financial legacy and your family's future.
Estate planning is not a one-time event—it requires proactive discussion and regular review with your wealth advisor and qualified estate planning attorney. Life changes, laws evolve, and your plan should evolve with them.
At Parallel Advisors, we're here to help you navigate these important decisions. With the launch of Parallel Trust Company of California, we're better equipped than ever to provide the comprehensive, coordinated support you and your family deserve.
Don't leave your assets—or your loved ones—unprotected. Contact us today to start or review your estate plan and ensure your estate plan reflects your wishes.
This material is provided for informational purposes only and should not be construed as investment advice. Different types of investments involve varying degrees of risk. Discussion or information contained in this presentation does not constitute personalized investment advice from Parallel or another professional advisor of your choosing. Any opinions or forecasts contained herein reflect the subjective judgments and assumptions of Parallel Advisors, LLC ("Parallel"). Parallel cannot and does not provide warranties nor representations as to the reliability or accuracy of the content it shares.