No Matter Your Wishes, We’ll Help You Create The Right Estate Plan
The most difficult element of an estate plan is getting started. No one wants to consider the possibility of their own death. Our lives are so busy that it always seems that there is something more pressing to do.
Many also believe their estate is so modest that an estate plan would not be necessary. However, in California, all estates exceeding $166,250.00 in value must go through probate, unless the assets are held in trust.
Everyone should have the basics of estate planning completed. You may think you have many years before it is necessary to worry about these issues, but accidents, illness and incapacity can afflict anyone at any age.
For your family, having all the necessary documents in place will come as a huge relief. Estate planning is best done when you can sit down and reflect on goals for you and your family. Having the proper documents ready when your family needs them is a great gift. Our attorneys at R.S.C. Law Group, Inc., can help you. We represent clients throughout Monterey and Orange County.
Helping You Create Wills, Trusts And Powers Of Attorney
A will details your intentions for the property of your estate. It also names your personal representative, the person responsible for:
- Setting your final affairs in order
- Filing your final income tax
- Paying other taxes and bills
- Distributing your property
You may have one trust or multiple trusts within an estate plan, depending on the size and complexity of your estate, property and goals. The trusts may be revocable or irrevocable, and can be used for tax planning, protecting children from a first marriage, maintaining privacy or avoiding probate.
Important elements of any plan include:
- Irrevocable and revocable trusts
- Wills or pour-over wills for you and your spouse
- Powers of attorney
- Advanced health care directives
What Happens If I Don’t Have A Will?
You may have wondered what happens if you die without a will. Without a will, your property will pass intestate. Intestate succession follows the rules created by the legislature and may not provide an optimal result for your family.