Unlike any other estate planning attorney in Orange County we encourage our client to educate themselves on the very basic principals of estate planning and discover other options to proceed with their estate planning before stepping into an attorney’s office. If a client made the decision to proceed with an attorney, we will provide comprehensive and cost-effective solution to their estate planning needs.
If you wish to protect your family from costly probate, you first need to prepare some estate planning documents. For this, you need to know about various documents required for good estate planning, and how each document plays its role in achieving your estate goals.
Estate Planning documents consist of more than just a Revocable Living Trust.
There are several documents that all act together complementing each other which will be offered and discussed with our estate planning attorney. Such as Revocable Living Trust Agreement, Certification of Trust, Declaration of Trust, Assignment of Personal Property, Assignment of Business Interest, Trust Marital Property Agreements (if a couple is married and wish to keep separate property), Last Will and Testament (“Pour Over Will”), Powers of Attorney, and Advance Healthcare Directives and others.
The important point you need to understand here is that these estate planning documents can have long-term effects on your family, and therefore, you better be highly careful while handling them.
Although it is not necessary, you may need an attorney. If you are in Orange County, there you can chose estate planning attorney Orange County based on his/her availability, affordability and experience.
If you are preparing an estate planning document, it is not always necessary to use a language that is particular for professionals (also known as legalese). Using legalese or traditional terms might be a wise step if you seek help from a estate planning attorney in Orange County.
Before you can attempt to prepare your documents without the help of a professional estate planning attorney, educate yourself about
What Actually Estate Planning Is?
· How can you avoid probate?
· If, somehow, you are unable to manage your assets, how they will be managed for your profit?
· When do you want to transfer some assets to others? Whether during your lifetime, when you die or after your death.
· To whom your assets will pass?
· Establish some arrangement that will help you meet you meet your goals, in case something ever happens to you or to someone you care about.
There are many purposes of estate planning.
· It can help you
in lowering potential taxes and fees;
making some arrangements about your health care and financial management, if you ever become incapacitated;
identify how you want to distribute your property. With the help of proper estate planning, you can provide for
your minor or disabled children.
In fact, estate planning becomes necessary regardless how much cost your assts if:
· You have a disabled or minor child.
· You care about your health care treatment and management.
What to Consider While Estate Planning of your assets:
· What are my assets? What is the total approximate value of these assets?
· Who are the people or charities I want to receive these assets? And when do I want them to receive these?
· Who do I want to manage my assets if I am unable to manage myself during my lifetime or after my death?
Only you can answer these questions, an estate planning
attorney Orange County can help you figure out the possible
consequences of your choices.
What Documents Do You Need?
You can achieve your basic estate planning goal with the help of a plan that consists of:
· You will
· Power of Attorney for finances
· An advanced health care directive
If you own real property or the value of your property is more than $150,000, you may also want a Revocable Living Trust for your estate
Choose Estate and Financial Planning Services Wisely: You will find many people who call themselves ‘Trust Specialist’, ‘Certified Planners’, and many other titles that suggest they have attained some advanced training in estate planning. Unfortunately, we are observing too much self-promotion of unqualified individuals. The purpose of most of these people is to get an access to your finances and sell them – just for a mere commission. Do not give your confidential details to anyone and never share detailed information about your finances and assets.
In a nutshell, keeping the importance of estate planning in mind, be very careful while choosing an estate planning attorney in Orange County.