Estate Planning Attorneys
Our estate planning attorneys believe that a solid planning vehicle not only gives peace of mind to the client who is undergoing the process, but ultimately provides their loved ones with a guide map to help them in the most difficult time of their lives. Estate Planning is essential not just for deciding who will inherit one’s assets, but also in providing crucial guidance to loved ones left to when someone becomes too ill to make those decisions for themselves. We use multiple planning vehicle to achieve each client’s unique estate plan including Living Trusts, Wills, Powers of Attorney, and Advance Health Care Directives.
The Best Time Create an Estate Plan For The Future
Life is busy, and it often seems like end of life decisions are something far off in the future, until one day it is not. Since none of us really ever know what the future holds it is important to make plans any time you have a major change in your life, It is important to create or changing your living trust when you move, have a new child, get married or divorced. Each of these life events impact your estate plans and you want to make sure they reflect your wishes.
It is also very important to draft a living trust and a will if you have a life threatening illness. Remember, estate planning is not just about assets, but also about your personal wishes for your medical care and treatment if you become too ill to make those decisions for yourself.
Our estate planning attorneys are experienced in helping clients at all stages and phases of life with drafting and advising on their individual estate plans.
Estate Planning Is Not Just For the Rich
Many individuals and families may be under the impression that an estate plan is for the very wealthy – as a vehicle to pass down their wealth to their future generations. Several years ago, the federal government changed the tax exemption for estate taxes so that couples with assets under 10 million dollars would not be subject to tax. However, even if you don’t have $10 million dollars laying around, you and your family can still benefit from an estate plan. In California, anyone who has assets over $150,000 must have their estate go through the court process of probate if their assets are not in a trust. This means that an heir to an estate that includes an asset like a house in the state of california, must go to court and pay statutory attorneys fees (which can be tens of thousands of dollars).
In addition to avoiding the expense and time consuming process of probate, individuals and families should create an estate plan to set out who would be the guardian of their children, to provide for the care of a beloved pet, to set aside and direct certain funds to be used for a child’s college education, and even to create a charitable trust so that certain assets go to a favorite charity. These are decisions that can be made by anyone, not just the rich and famous!
Finally, a good estate plan includes an advance directive which provides a roadmap in the event that you become to ill to make medical decisions for yourself. This is an extremely personal document. In those crucial moments, you want the right person making decisions for you, and you want to be able to have the peace of mind that care will be carried out in accordance with your own personal beliefs and needs. For example, some individuals want all measures taken to save their life, others do not. Some individuals want their spouse, others want their sister to be the one to care for them in their time of need. Every person deserves to have their wishes carried out, and an advanced directive helps loved ones do so.