The law states that all people have the right to say what happens to their property and estate planning is a way to give these rights a concrete legal impact. For many people, this will involve drafting a will that declares their wishes for after their death. For others, it can include creating a trust to transfer property at a date in the future. The trust and estates process can also make provisions for the future of a company or contemplate a future illness or injury.
Whatever your goals and wishes are, a Tustin estate planning lawyer may be able to help. Our experienced team of legal professionals could work with you to explain the purpose of estate planning, listen to your needs, and draft the documents that will have the intended legal effect.
What Are the Benefits of Creating an Estate Plan?
For many people, estate planning can be as simple as having an up-to-date will that determines what will happen to their property after they die. The need to create an estate plan becomes far more essential when a person buys real estate, starts a business, or has children.
If a person dies and does not have a will, the probate court will apply the state’s intestacy statute. According to California Probate Code §6401 & 6402, in these situations, the probate court will automatically distribute a decedent’s estate between a surviving spouse and any children. The purpose of having a will is to override this statute and dictate who may receive which assets.
An estate plan can also provide benefits for the immediate future. Placing property in a trust can ensure its proper distribution at any time in the future. A Tustin attorney could help someone with the estate planning process and create a plan that provides greater control over the future.
Working with People to Identify Their Estate Planning Goals
In general, an estate plan functions as a way to retain control over certain assets. Yet, every estate plan is unique. As a result, the first way in which a lawyer in Tustin could help with the estate planning process is by identifying the property that may be included in these plans.
Every estate plan should contemplate what will happen to every asset. As a result, the first step is often identifying and locating this property. Especially when people have non-liquid assets such as life insurance policies or pensions. It is also vital to ensure that an estate plan receives proper administration. This can involve nominating a competent executor to serve as a personal representative during probate or naming a trustee to oversee the proper distribution of assets. A trust and estates attorney could help parties to properly select these individuals or organizations.
Finally, a lawyer could explain the laws that govern these documents and ensure that they meet the required regulations. This may include obtaining the proper signatures and notary seals.
Contact a Tustin Estate Planning Attorney Today
Having a proper estate plan is part of preparing for the inevitable. A Tustin estate planning lawyer is ready to assist with this process. Our trusted team could identify your goals, locate all assets, suggest effective legal documents, and draft these plans so they meet legal regulations and your goals. Reach out to our trust and estates attorneys today and schedule an initial consultation.