Once an individual identifies their goals and beneficiaries, they can begin creating the documents that form an estate plan. For most people, this will include crafting a will. A will functions only after a person’s death to inform the probate court about the decedent’s wishes. Ensuring that a will contains the proper components under California Probate Code § 6110 is one way in which a lawyer could help.
Modern estate planning involves far more than having a will. It is also possible to transfer property to others through a trust. Unlike a will, a trust can go into effect at any time in the future. Additionally, forming a trust could bring significant tax benefits or allow for the care of a child or person with limited capacity.
Estate planning could also involve a business succession plan. For company owners or those with substantial stock holdings, these plans could arrange for a transfer to an heir, instruct a board of directors, or mandate the sale of a company. A Rosemead attorney could help someone determine what to include in their estate plan.
Contact a Rosemead Estate Planning Attorney Today
A comprehensive estate plan should leave no doubt as to your wishes for the future. This includes what will happen after your death but may also involve your company’s future as well as provide for the care of loved ones in the coming years. Forming a proper estate plan requires preparation. From day one, a Rosemead estate planning lawyer could identify your needs, locate your assets, explain your options, and draft the documents necessary to meet your goals. Reach out to a trust and estates attorney today to learn more.