answers to our frequently asked questions
Estate Planning FAQ
Most frequent questions and answers
Estate planning is the process and completion of who will be receiving all of your assets in case something may happen to you.
Estate planning allows you to take control of how your property will be distributed and who will take part in the distribution. It will also give your family and loved ones a peace of mind knowing that this was already rearranged to your liking.
Your estate plan will be customized to meet your unique needs. However, below are some of the things that you might consider putting into your estate plan:
-A will and a testament with specifics on your property
-Trust that you can manage while you’re still alive
-Remembrance document that can be shared with your family and friends
-Family members including those that are adopted, or stepchildren
-Retirement plans and IRA’s
A will is a part of your estate plan and it will go through your property reassignments and also your property related last wishes. You are also able to go back to your will and
Estate planning is going through a variety of documents to specify what happens with every asset under your name.
An Estate Plan can be beneficial to those that are married or had multiple marriages, have children, own a business, or would like to pass their assets on to someone else. It can also be helpful to those that want to make sure that their requests are being followed through.
In California, if you do not have an Estate Plan before your death then your family will have to go through probate court in order to have access to your property. The court will have to verify all of your estate and check if there is any debt that must be paid. They will specify the worth and credit of all of your assets and properly transfer them to your family or beneficiaries.
A probate is the process of authentically the will by locating the assets, beneficiaries and creditors. In order for the assets to get distributed any outstanding debts must be paid before they are given to any of the beneficiaries.
Estate Planning will assist with this process to make it quicker and less stressful.