The estate planning process in Rosemead begins long before a person puts pen to paper. While the creation of testamentary documents is a key part of this process, understanding one’s needs, as well as the impact of these plans on others, is also vitally important.

The plain fact is that estate planning begins whenever an individual decides it does. This can include situations where a person obtains valuable property, acknowledges that they need to name their heirs or beneficiaries, or decides that they need to make a plan for the future. As a result, it is never a bad time to begin the estate planning process. An estate planning attorney from our team could help you no matter where you are in this process.

Taking Preliminary Steps in the Estate Planning Process

In Rosemead, the estate planning process often begins with an evaluation of an individual’s needs and wishes. These can include what a person wants to happen to their assets after their death, as well as ways in which an estate plan can provide immediate benefits.

For example, a will was the traditional way to leave property to heirs. However, this only comes into effect upon a testator’s death. In addition, the value of an estate may drop if creditors have claims on a decedent’s estate, and heirs may need to pay taxes on their new property. By contrast, a trust can see the transfer of property at any point in the future. These documents can also lessen an individual’s tax burden and provide a steady source of income for children or those with physical or mental limitations. Talking with an attorney could help someone identify their estate planning goals and better understand the options available to them.

Drafting Estate Planning Documents

Once an individual can identify their personal goals and wishes for their heirs, they are ready to begin drafting the necessary documents. One key part of this process is ensuring that the documents take on the proper form. For example, California Probate Code § 6110 requires that a valid will be in writing, contains the testator’s signature, and that two witnesses who observed the signing also add their signatures. An estate planning attorney in Rosemead could help with this process by making sure that there is compliance with all state law requirements.

The other essential part involved in drafting estate plan documents is including as much detail as possible. Clearly identifying beneficiaries as well as the property contained in an estate or trust is necessary for effective administration. This can also help avoid any legal conflict that may arise that could call into question the legitimacy of documents or the rights of potential heirs. An attorney could draft testamentary documents that leave no doubt as to a person’s intent.

When to Begin Estate Planning?

Generally speaking, a family should consider beginning the estate planning process once their assets reach a certain net worth. In most cases, an individual could get started once they acquire around $150,000 in possessions and property. Someone could certainly begin before they reach this milestone, but courts will require probate of assets once this threshold is reached.

Acting at this moment and being proactive could help a family understand the process and know what to expect ahead of time. Thinking in advance makes each stage more efficient, palpable, and streamlined. A diligent lawyer in Rosemead could help a family recognize when their estate reaches a value of $150,000, to prepare them for the rest of the estate planning process.

How Could Our Firm Help?

Meeting with legal representation is a crucial part of the estate planning process, as a team member could explain. Someone could begin crafting their framework by scheduling their free 20-minute consultation. During this meeting, our attorney will advise and discuss the different types of estate planning that are applicable to a client’s scenario.

Once we receive all the necessary information regarding your family and assets, our team will begin drafting an estate planning document, which takes about two weeks depending on complexity of each plan. The documents are not finalized until you understand what it means and how to use it. After all the documents are finalized and officially notarized, we will help prepare for the transfer of real property, using the county recorder’s office to document any exchanges. This entire process of drafting and executing a plan usually takes about a month to complete.

If a family or individual has any further questions about how our firm tackles the estate planning process, a seasoned lawyer in Rosemead could address concerns.

Call a Rosemead Attorney to Learn More about the Estate Planning Process

It is never too early to consider forming an estate plan. Even relatively young adults may want to name their children or their parents to protect the future of their property. Effective estate planning requires you to take stock of your assets, identify what you want to happen to those assets, and determine your heirs and beneficiaries. Only then can the resulting legal documents have the intended impact.

One of our experienced lawyers could help you with the estate planning process in Rosemead. We could work to understand your needs as well as make suggestions as to how to craft an effective estate plan. Give us a call today to schedule a consultation.

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Covina Office

800 S Barranca Ave #260,

Covina, CA 91723

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Rosemead Office

3733 Rosemead Blvd., Ste. 201
Rosemead, CA 91770

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(626) 307-2800
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Diamond Bar Office

1930 S. Brea Canyon Rd. #120
Diamond Bar,  CA 91765

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Tustin Office

511 E 1st St., Suite H
Tustin,  CA 92780

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Amity Law Group, LLP

Amity Law Group, LLP