Probate Avoidance

For an individual with property valuing more than $185,000, a living trust that places your property in the hands of an individual or entity of your choosing might be the path for you. The trustee will be in charge of managing your estate during and after your passing. The beginning of any good estate plan includes a “revocable living trust,” which allows you to change or revoke it at any time and as often as you’d like.

TRUST AND BENEFICIARIES

A typical trust involves three parties: a trustor, the trustee, and the beneficiary. The trustee is the individual or company responsible for looking after the property listed in the trust until the appointed time when the beneficiary may come into their inheritance. This is often the case for children or young adults who are not capable for handling the property to the best of their ability until a later date.

POWER OF ATTORNEY

Power of attorney is a legal document that gives another person the legal power to act on your behalf when you aren’t able to do so. The power can either be ongoing or applied only to certain actions and dates. A power of attorney is usually designed for financial matters during or after your passing, family issues such as caring for children, and healthcare orders regarding your medical care if you become unable to care for yourself.

MEDICAL DIRECTIVES

Medical directives, usually listed in a person’s living trust, list an individual’s desires on how they want to be treated in the event of a serious illness or accident; this includes designating a power of attorney. By putting a medical directive together, your loved ones will not have to go through the emotional stress of guessing what you would want them to do in the event you become seriously ill or injured and unable to speak for yourself. N•M Law, APC understands that this is a trying time for people to approach, and we will take the time needed to sit and explain all that goes into deciding what to do in regards to aligning it with your personal wishes. No one wishes that a need for medical directives will become, but it is in your best interest to ensure that your desires are established in case of an unexpected situation in the future.

LET AN ESTATE PLANNING LAWYER HELP YOU

NM Law, APC has helped many Orange County residents through the process of estate planning. We have detailed knowledge of each element and can provide the counsel and skilled guidance that you will need in order to get your property aligned. Noelle Minto understands that each person’s situation is unique and approaches each case with an open mind so that she can achieve the best possible outcome. Contact NM Law, APC today to get started.

Disclaimer: This information is intended to provide a general summary of laws in the State of California and should not be construed as a legal opinion nor a communication which forms an attorney-client relationship with the reader.

Most individuals think that they are too young or healthy to start planning their estate. At NM Law, APC, we strongly encourage you to learn exactly why estate planning is such a valuable process. Your loved ones and you can all benefit financially and emotionally if you are prepared with a detailed estate plan before your passing.

FINANCIAL BENEFITS

There are many benefits to estate planning. It saves you and your loved ones from having to pay loads of attorney’s fees on top of court fees by avoiding the probate process. All of your last wishes will be overseen by a trustee that you choose to be in charge of your living trust instead of a judge. In addition, your loved ones will avoid the high taxation that comes from probate. Instead of having to pay thousands of dollars out of their inheritance for estate taxes, they will be able to keep the bulk of their inheritance for their own use as you had intended.

DOCUMENT YOUR LAST WISHES

Estate planning ensures that your last wishes are followed and documented in detail. If you decide to establish a living trust, you will be able to place a responsible individual or adult as the trustee of the trust, allowing them to handle all of your property and wishes after you pass away. You might choose to draft a simple will, but keep in mind that this option still requires probate.

PROVIDE FOR YOUR LOVED ONES

Estate planning, most importantly, provides for the ones you love by allowing them to distribute your estate in a manner of weeks instead of the months it would take in the probate process. With estate planning you will be able to ensure your loved ones are properly taken care of after you pass. You may also provide documentation of how you would like to be cared for, should you become unable to act or care for yourself.

FIND AN ESTATE PLANNING ATTORNEY IN ORANGE COUNTY

Contact NM Law, APC to speak about how we can help you through the process of estate planning. The idea may seem a little unnerving but we are willing to guide you through each step of the process. With more than 20 years experience, Noelle Minto is skilled in these legal areas so you are guaranteed only the highest quality of counsel and legal representation. Contact NM Law, APC today to find out what we can do for you through a case evaluation.

Disclaimer: This information is intended to provide a general summary of laws in the State of California and should not be construed as a legal opinion nor a communication which forms an attorney-client relationship with the reader.