Everyone needs the same 5 Basic Estate Planning Documents:
Trusts provide for management of your assets if you become incapacitated and allow your estate and your loved ones to avoid the expense, delay and public nature of Probate after you die. The minimum cost of Probate in California is over $7,000. Trusts enable and instruct your successor trustees to manage your assets for your benefit and the benefit of others if you become disabled and after you’re gone, without the need, expense, public exposure or delay of going to court.
Once the trust is signed is must be funded, re-titling real estate and investments into the name of the trust, so successor trustees have the ability to manage them per the instruction once they are put in charge.
POUR OVER WILLS:
The Will you get with your trust addresses guardianship and allows your executors to easily move any omitted assets into your trust after you die so they can be distributed according to your instructions.
GENERAL DURABLE POWERS OF ATTORNEY:
If you become mentally or physically incapacitated your Power of Attorney allows your agents to exercise rights on your behalf such as filing insurance claims, filing lawsuits, paying taxes, applying for public benefits and getting money from retirement accounts.
ADVANCE HEALTH CARE DIRECTIVES:
Advance Directives are where you state exactly the kind of medical care and life support you want if you can no longer speak for yourself and it is where your instructions for your disposition and memorial are expressed.
HIPAA allows your healthcare agents, trustees and other people you name to access information from doctors, nurses, insurance companies and other providers if you are unable to communicate or passed away.
Together we design your documents then I draft and execute them for you and assist you with funding, all for a flat fee which I quote after a complimentary initial consultation.