Unlike the vast majority of estate planning lawyers who charge their services on an hourly basis, we charge flat fees for our services. Learn more in your free initial consultation. Contact us today.
A will is a traditional estate planning document. It allows you to direct your assets to any individual or entity when you pass away, however, it does nothing to avoid probate. If you own real property worth more than $50,000.00 or have assets totaling $150,000.00 or more, then your will shall be directed to probate. A will also does not serve you during your lifetime.
A will is still an important part of most estate plans because it is used to direct any assets remaining in your estate to your living trust if you forget to title assets into your trust during your lifetime. It is also where parents nominate a guardian for their minor children.
Unlike the vast majority of estate planning lawyers who charge their services on an hourly basis, we charge flat fees for our services. Learn more in your free initial consultation. Contact us today.
A major part of our firm’s practice involves developing trusts, wills and powers of attorney. A brief description of each follows.
Trusts: In a trust, a person gives a trustee the ability to manage assets and property. These assets are managed by the trustee on behalf of the beneficiaries. Assets held in a trust are not subject to the probate process. For these and other reasons, trusts are an attractive estate planning option for many.
There are many different types of trusts designed to achieve different goals. For example, there are charitable trusts, property trusts, life insurance trusts, among others. In California, a popular option is the living trust. With a living trust, you have the ability to place your assets in a trust and serve as the trustee until your death or incapacity. You can also appoint a trustee, or a successor trustee in the event you become incapacitated. Upon your death, your assets will be distributed to your intended beneficiaries. If a trust is right for you and your family, you can count on us to meet your needs.
Wills: A will determines how your assets will be distributed upon your death. While assets in a trust bypass probate, assets in a will are subject to the probate process. While a trust is the right choice for many, people with straightforward estates may only require a will. In other cases, a will and a trust together may be the right choice. We will take all appropriate measures to create a will that meets all legal requirements.
Power of attorney: In California, a durable power of attorney will give another person the legal authority to make decisions for you if you become incapacitated. With a power of attorney in place, your family will avoid having to ask a court to appoint a conservator/representative if you cannot manage your affairs. Along with your power of attorney, our law firm can prepare other documents as necessary, including your advance health care directive (living will) and HIPAA release.
Copyright 2021 Bryant Elder Law. All Rights Reserved