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Estate Planning in California
Estate planning is the process of organizing your estate in a way that will ensure your wishes are carried out after you die. This includes creating a will, setting up trusts, establishing an advanced healthcare directive, and appointing a power of attorney. By doing this in advance, you can avoid confusion and conflict among your loved ones after you’re gone.
Proper estate planning is of paramount importance to all Californians. It is something that, unfortunately, is commonly put off and not completed until it is too late.
Estate Planning in Sacramento CA
A proper estate plan consists of a trust, a will, a power of attorney, and an advanced healthcare directive. A trust is a legal document that specifies who gets what upon your death. It is the core estate planning document and the most important one in a proper estate plan because it avoids probate, which is a long and expensive process that involves the courts and government intervention before your loved ones can receive any of your property.
A will is another estate planning document that also specifies who gets what upon your death. However, a standalone will–unlike a trust–does not avoid the long and expensive process of probate. That said, a will can be useful if you want to save money or if you would prefer government oversight of the distributions of your assets upon your death.
A power of attorney specifies who you want to control your assets upon your incapacity. For example, if you are in an automobile accident and in a medical coma (and cannot make decisions for yourself), a power of attorney can grant the power to another person to take care of your financial matters–.e.g, paying your credit card bills or medical bills.
An advanced healthcare directive is also an important part of an estate plan. This document specifies who you want to be in charge of your medical decisions if you are incapacitated and cannot make them yourself. Click here to learn more about advanced healthcare directives.
What Happens if I Die Without a Will or Trust?
If you do not have a proper estate plan, the Government of California will determine how your estate is divided. The laws of intestate succession would take effect and determine the order in which your heirs receive your property. This is a complicated process, but essentially the state will determine who gets the property based on the relationship with you. This will likely not be what you would have wanted and could lead to conflict among your loved ones. Having a properly drafted estate plan will eliminate these risks.
By taking the steps outlined above, you can ensure that your estate is handled according to your wishes. Contact us for assistance in setting up your estate plan.
What Is the Estate Planning Process?
The estate planning process typically involves the following steps:
- Determine what you own and how it’s titled. Draft a personal inventory of your assets and debts. Use this as a reference when drafting your estate planning documents.
- Decide who you want to inherit your estate. Carefully chose those whom you wish to receive your property upon your death.
- Create a trust specifying how you want your estate divided among your heirs and to protect your estate from expensive probate fees and costs. Select an appropriate trustee to manage the trust assets upon your death or incapacity.
- Set up a pour-over will to ensure that whatever remains of your property is put into your trust upon your death
- Appoint a power of attorney in case you become incapacitated and create an advanced healthcare directive to make provisions for your medical care when you cannot make healthcare decisions on your own.
- Review your estate plan regularly and make updates as needed.
The estate planning process can be complex, so it’s important to consult with an attorney who has experience in this area, such as James L. Arrasmith. By taking these steps, you can ensure that your estate is handled according to your wishes. This will help to avoid conflict and ensure that your loved ones are taken care of after you’re gone. Contact us today for a consultation.
What Is a “Power of Attorney”
A power of attorney is a legal document that allows someone whom you trust to make decisions on your behalf in the event that you cannot make those decisions on your own. This can be a great way to ensure that your wishes are carried out even if you cannot make decisions for yourself. If desired, you can also create a power of attorney that assigns rights and delegates responsibilities to others even if you are not incapacitated. You should consult with an attorney before making any decisions about appointing a power of attorney.
If you have any questions about estate planning, please don’t hesitate to contact us today. We can help you create a plan that’s right for you and your loved ones. Call us or text us today for fast and reasonably priced service at (916) 704-3009.
Probate Lawyer Sacramento
What Is Probate?
Probate means that there is a court case that deals with:
- Deciding if a will exists and is valid;
- Figuring out who is the decedent’s heirs or beneficiaries;
- Figuring out how much the decedent’s property is worth;
- Taking care of the decedent’s financial responsibilities; and
- Transferring the decedent’s property to the heirs or beneficiaries.
In a probate case, an executor (if there is a will) or an administrator (if there is no will) is appointed by the court as personal representative to collect the assets, pay the debts and expenses, and then distribute the remainder of the estate to the beneficiaries (those who have the legal right to inherit), all under the supervision of the court.
The entire case can take between 9 months to 1 ½ years, maybe even longer. It is important to have legal counsel to assist you in this difficult process. James L. Arrasmith is a probate lawyer based in Sacramento who serves all of California. Contact us today for a consultation! Call or text us at (916) 704-3009.
At the Law Firm of James L. Arrasmith, we practice in a multitude of areas of estate planning.
An Estate Planning Attorney in Sacramento – how can an estate planning attorney in Sacramento help me with my estate planning needs? Regardless of your estate planning needs, James L. Arrasmith is here to offer a consultation to see if he can assist you with your legal matters.
Are you in need of a probate attorney? Contact our office if you need help in your probate law matter. Probate law can be complicated, and having a probate attorney can help you with your current and future legal needs.
Are You Looking for Sacramento Estate Planning Attorneys?
What does an estate planning lawyer in Sacramento do? An estate planning attorney such as James L. Arrasmith helps clients by giving sound legal advice for estate planning issues. An estate planning lawyer also drafts important documents such as wills, trusts, powers of attorney, and advanced healthcare directives. James L. Arrasmith’s law office is located in Sacramento, California and he serves all of California.
Sacramento estate planning attorney such as James L. Arrasmith helps their client’s estate planning and estate litigation issues at their law offices. James L. Arrasmith assists clients in their estate planning needs. He meets their estate planning needs by offering legal services to those who need an estate attorney. These legal services include trust and estate law, California estate planning, probate law, and estate administration.
Our Sacramento office offers sound advice such as navigation through the court process. We also offer legal representation to the surrounding communities such as Roseville, Citrus Heights, Fair Oaks, Gold River, Natomas, West Sacramento, Elk Grove, and other Sacramento areas, as well as remotely throughout all of California. Estate planning is just one of the many practice areas that we offer as a Sacramento law firm. For example, we also offer Landlord-Tenant Services, Family Law Services, and Personal Injury, amongst many others.
Call or text us today for a consultation at (916) 704-3009.