Estate planning allows you to take control of how, upon your death, your assets will be given to the people and/or organizations you care most about. To ensure your wishes are carried out, you need to provide instructions stating whom you want to receive something of yours, what you want them to receive, and when they are to receive it. And of course, most people want all of this to happen with the least amount paid in taxes, legal fees, and court costs.
There are many legal strategies involved in estate planning, including wills and trusts, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care documents.
New clients often believe they have no estate plan but are then surprised to learn that they actually do have a plan. You see, when you don’t create your own plan, the California laws of intestacy will be the plan and your estate will be distributed accordingly. California law is very specific for distributions to a surviving spouse, children, parents, grandparents, brothers, sisters and then community property, separate property.
To avoid having the estate plan the State of California has already created for you, we encourage you to contact our office to discuss the best estate planning strategies to insure your wishes about who manages your estate and receives distributions of your assets upon your death are in place. The choices are many; we are here to help you understand your options and put in place your estate plan. Please email or call our office for an appointment.