"Estate Planning" is the process of getting one's affairs in order, so that personal, investment and business assets can be efficiently managed during life and passed on after death. Without an estate plan, the affairs of an incapacitated or deceased individual would be subject to expensive and lengthy court proceedings, and his or her assets would pass on without optimizing tax savings. Therefore, estate planning can help you (1) retain control over your person and your assets, (2) maximize the value of the assets that pass on to your beneficiaries, (3) protect those assets for your beneficiaries, (4) maintain your privacy, and (5) eliminate the hassle of dealing with the court system.
Due to state laws and real estate values, the essential estate plan for most California residents consists of (1) a living trust, (2) a pour-over will, (3) a power of attorney for asset management, (4) a health care directive and (5) a Health Insurance Portability and Accountability Act of 1996 ("HIPAA") Authorization. Those who don't own real property in California may not need a living trust to avoid probate, but they would likely still benefit from the ease of management that a trust provides.
Our estate planning process helps clients to understand the legal tools available and keeps them from "getting stuck" in making decisions. The essential estate planning process begins with an introductory call, email or meeting to get acquainted with our services. Once we are engaged to prepare the estate plan, we review the asset and personal information provided to us and present the client with the options best suited for the client's situation. After the client confirms that the plan design meets his, her or the family's objectives, we finalize the documents and put the plan into action at a formal signing conference. We make the entire process as easy and convenient as possible.
Please read on for more information about the essential estate planning documents that each individual and family must have.
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The Law Offices of Jacqueline Real-Salas is a full service Estate Planning & Tax Planning law firm. They provide comprehensive planning in the areas of wills, trusts, powers of attorney, medical directives, advanced estate planning, income tax planning, probate & trust administration, probate avoidance planning, special needs trusts, disability planning and asset protection. Jacqueline Real-Salas serves clients and their families all throughout the Los Angeles Area, including Temecula, Pasadena, Murrieta, French Valley, North San Diego County, and the surrounding areas, cities and towns.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.