Estate Planning

Plan For Your Family’s Future.

Why is it important to have an estate plan?

Having an estate plan guarantees that your family does not have to go through probate upon your death. Probate occurs when an individual, with assets over $150,000, dies without a trust. Probate can be a long, expensive and time consuming process, but by having a valid trust, probate can most often be avoided. It guarantees that your estate is left to whom you choose, not those designated by the court. It allows funds to be kept in trust and managed for your children and grandchildren. Estate planning also provides a plan to manage your assets if you become disabled and are not able to manage your own affairs.  -See Probate

What does an estate plan consist of?

A complete estate plan consists of a revocable living trust, will, durable powers of attorney, advanced health care directive, instructions on how to fund your trust, and other documents. We will also transfer the title of your house and other real property into the name of your trust.

I have a disabled family member who is currently on public benefits or will be in the future, how will the affect my estate planning documents?

For our clients who have family members with disabilities, we recommend you establish what is called a Third Party Special Needs Trust along with your other estate planning documents. For more information on Third Party Special Needs Trusts please visit Special Needs Trust.

When should I update my estate plan?

Our office recommends you review your estate plan any time there is a change in your family or financial circumstance or at least every three years to determine if there are any changes in estate taxation regulation.

Is it possible to amend an irrevocable trust?

It may be possible to amend an irrevocable trust after an individual has passed away with the approval of the court. The need for amending an irrevocable trust after death often occurs when a beneficiary of the trust is receiving public benefits. This may require that a Special Needs Trust be established so that an individual’s public benefits can be protected.

Are estate plans billed hourly or is there a set fee?

Our estate plans are billed as a set fee. However, amending and updating trusts are often billed at our hourly rate. Please call our office for more information regarding our estate planning fees.

Does your office do trust administration as well?

Yes we do!

For more information or to make an Estate Planning appointment please call our office at (858) 689-0613 or email us through our contact form.

* The information presented is general in nature and does not constitute legal advice. You should consult an attorney for advice on your specific situation.