Every Adult Needs An Estate Plan
Without proper estate planning, the Probate Code dictates what happens to your property after your death. At the basic level, creating an estate plan can help you avoid probate and allow you to leave your assets to the people you choose.
Additionally, proper estate planning can minimize the tax liability of passing on your estate, which is especially crucial for estates valued at over $11 million. However, even small and medium-sized estates still benefit greatly from proper estate planning. The cost of preparing an estate plan is typically a fraction of the cost of probate.
Some people think that only the very rich need to think about an estate plan; however, there are certain documents that are important for every adult. Each of these documents serves a different purpose:
- Trusts, including “Special Needs Trusts” for family members with special needs
- Powers of attorney (financial)
- Advance health care directives (also called living wills)
We will discuss your situation together and determine which of these documents are right for you and your family. Combined, they can be a powerful tool in protecting your wishes and your loved ones in the future.
In order to make sure that your estate plan reflects your wishes and circumstances throughout your lifetime, it is important to review and update your plan at least once every five years. I can work with you to review and update all of your documents if you already have an estate plan in place. I routinely prepare trust amendments and other changes to existing estate plans for my clients, whether or not I prepared their original documents.
Schedule A Consultation Today
If you are looking for a knowledgeable, experienced lawyer who cares about offering excellent personal service, call my Simi Valley office at 805-624-4431 or contact me online to schedule a consultation. I have flexible office hours, and will work with you to find a time to meet that fits your schedule.