ANSWERS TO COMMON ESTATE PLANNING INQUIRIES

Wrong! You definitely need an estate plan. If you are single with no children, California probate law will pass your assets to your closest blood relatives when you die. Your assets will be distributed to more distant relatives if your immediate family members are not alive at the time of your death. But most people have friends, specific relatives and/or charities to which they want to leave their estates. A comprehensive estate plan can make sure that the right people or charities receive your assets and continue your legacy.

The benefits of a revocable living trust include the following:

• You gain peace of mind knowing that your loved ones and your legacy are protected.

• Your family and your estate bypass the long and expensive California probate process.

• You retain control. You determine how your estate is managed and what happens to your assets after your death. The money in a trust can be distributed in many ways, including paying it to minors on an annual basis or using it to pay tuition.

• Your estate remains private. By eliminating the need for probate, your personal and private affairs do not become a matter of public record upon your death.

• You can protect your assets from creditors. Depending on how your trust is set up and administered, it can also protect assets that you have set aside for your children or grandchildren from creditors.

Probate is the process of gathering all your assets, settling your debts and distributing your estate to your heirs under the supervision of the probate court. Assets passed via a will are still subject to probate. Consider executing a revocable living trust instead.

Unlike many lawyers, we don’t ask you to fill out a lengthy, impersonal questionnaire before we meet. Your initial, free consultation is to discuss your intentions, your vision and how we can create it. Expect to meet for 30 minutes.

• A revocable living trust and related documents

• A “pour-over” will

• A power of attorney

• An advance health care directive

• A Health Insurance Portability and Accountability Act (HIPAA) waiver

• A nomination of guardianship for minor children

• Real estate property deeds transferring ownership to the trust

• Asset titling documents

• We offer a flat-fee structure, which varies depending on your specific wishes, so you will know exactly what to expect in terms of cost. Once you’re our client, we will remain available to you whenever you have a question. We offer unlimited support via telephone, email, Zoom or in person. Ask us a question at any time.