Estate Planning FAQs
General:
Who needs estate planning?
Everyone over 18 should have an estate plan, regardless of wealth. It ensures your wishes are followed and avoids potential conflicts.
What happens if I die without a will?
California law dictates how your assets are distributed, which may not align with your desires
Is a will enough?
While a will is essential, it may not address all situations. An estate plan can include additional documents like trusts, powers of attorney, and healthcare directives.
Documents:
What is the difference between a will and a trust
A will dictates how assets are distributed after death, while a trust allows you to transfer ownership of assets during your lifetime and manage their distribution according to your wishes.
Do I need a living trust?
Living trusts can avoid probate, a lengthy court process, and offer more control over asset distribution. They can be beneficial for complex estates or those wanting privacy.
What is a power of attorney?
This document appoints someone to make financial decisions on your behalf if you become incapacitated.
What is a healthcare directive?
This document allows you to specify your medical wishes in case you cannot communicate them yourself.
Specific Situations:
I have minor children. What should I consider?
An estate plan can designate guardians for your children and manage assets for their care and upbringing.
I have a blended family. How can I ensure my wishes are followed?
An estate plan can be crucial to avoid unintended consequences and ensure your assets are distributed as you desire, considering all beneficiaries.
I am concerned about taxes. Can estate planning help?
Certain trusts and strategies can help minimize estate taxes. However, consulting a tax professional is recommended.
How often should I update my estate plan?
It’s essential to review and update your estate plan as your life circumstances change, such as marriage, birth of children, or significant asset changes.
This is not a substitute for professional legal advice. Consult with Deetman Law Office today to create a plan that meets your specific needs and goals.
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At Deetman Law Office, our goal is to provide our clients with personalized and comprehensive estate planning services tailored to their unique needs and goals.
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Deetman Law Office strives to empower our clients with knowledge and understanding of their estate planning options, fostering informed decision-making to achieve their goals today and tomorrow.
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At Deetman Law Office, we understand the importance of safeguarding your legacy and ensuring your loved ones are cared for after you're gone. We are dedicated to providing compassionate, comprehensive, and personalized estate planning services tailored to your unique needs and goals. This is our mission.
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