Los Angeles Estate Planning Lawyers
Ensuring Your Estate Is Safe for Those You Leave Behind
You may not realize it, but you have an estate. Estates are not only for the ultra-rich in the Hollywood Hills; if you have a car, house, furniture, or bank account, you have an estate. When you create an estate plan, you are ensuring your assets end up precisely where you want them after you’re gone. Whether that be with loved ones or charities, our Los Angeles attorneys can help you create a solid plan for the future.
If you aren’t sure which estate plan is right for you, we can walk you through each type and help you come to a decision.
Types of Estate Plans
A will can help you protect your family and property by ensuring:
- your property is left to the intended people or organizations;
- you name a trusted person as the manager of property left to minors;
- you name a guardian to care for minor children; and/or
- you name an executor to carry out the terms of your will.
A will is not ironclad; until you pass away, you can revoke or edit the terms of your will at any time. You can revoke your will by destroying it or making a new one stating you are revoking the old one.
A living trust is an arrangement where one person (trustee) holds a legal title to the property of another person (beneficiary). You can be your own trustee of your living trust, if you would like to maintain control of the property.
The document should specify how you would like your trust property divided when you pass away and who you would like to take the responsibility of trustee. These changes can occur without anyone stepping foot in a courtroom.
Durable Power of Attorney
A document of this type enables you to grant someone else the authority over your property and/or financial transactions. It can remain in effect, or only become effective, if you are incapacitated and unable to make those decisions for yourself. Because an estate plan of this type gives another person great responsibility over your affairs, you should think carefully as to who you would like to name.
Advance Healthcare Directive
Like a durable power of attorney, an advance healthcare directive allows you to appoint someone to take control of decisions. If you become incapacitated due to a medical issue, these decisions are exclusively related to medical directives.
Unlike a durable power of attorney, if you are not comfortable giving this power to a specific person, you can create instructions on how you would like your medical decisions handled.