California Estate Planning Attorneys
Providing Skilled Legal Representation for Your Estate Planning Needs in CA
When many Californians hear “estate planning,” they think of someone with significant wealth or abundant assets. In other instances, individuals may not realize the importance of estate planning because they may assume that their assets will automatically be given to their spouse, children, or other heirs. However, depending on the size of your estate and other factors, your family may be forced to wait while the court sorts out probate-related legal issues.
Estate planning is a valuable legal tool that most individuals can utilize to ensure their loved ones have the financial resources they need after their death. Baron Family Law, PC has attorneys who understand the legal intricacies of California estate planning and will work with you to help you achieve your goals and objectives.
If you have questions about estate planning, contact Baron Family Law, PC, at one of our California law offices today. We will happily schedule a meeting with a knowledgeable attorney, answer your questions, and evaluate your needs.
Who Can Benefit From Estate Planning?
One of the public’s most prominent misconceptions is that estate planning is only for the very wealthy or older adults. In truth, everyone can benefit from creating a comprehensive estate plan that ensures your assets are distributed to your heirs and beneficiaries.
For example, suppose you die without leaving a will. In that case, your assets must go through probate and be distributed according to California’s intestate succession laws. Generally, surviving spouses are entitled to 100% of the property if they have no children. Property is divided based on state intestate laws in cases with a surviving spouse and children.
In cases involving a surviving spouse and one child, each is awarded 50% of the decedent’s estate. However, in cases involving a surviving spouse and two or more children, the spouse would receive one-third of the separate property, with the children receiving a two-thirds share.
It is crucial to remember that if you die without leaving a will, your estate will have to go through California’s probate process. Probate can be costly and time-consuming, and your assets may not be distributed as you would have, had you drafted a will.
Creating a well-crafted estate plan is best to ensure that your family is spared the time and expense involved with probate. At Baron Family Law, PC, we will review your case and explain what legal options will provide maximum benefits for your heirs and other beneficiaries.
Contact Baron Family Law, PC, to schedule an appointment with one of our estate attorneys, who will help you plan for the future.
What Should Be Included in a Comprehensive Estate Plan?
The goal of any comprehensive estate plan is to ensure that family members and other beneficiaries do not have to wait to receive financial resources or assets. Legal documents that should be included in a comprehensive estate plan include:
- Last will and testament
- Durable power of attorney
- Advanced healthcare directive
- HIPAA authorization
It is even more crucial for business owners to have an extensive estate plan that guides how their business assets should be allocated and to name a successor.
Other legal practice areas covered by estate planning should include trust administration and guardianship designations for minor or special-needs children. You should never assume that if something were to happen, your children would be placed with other family members. Although this is a common practice, if no surviving parent exists or the other parent cannot care for a child, the court could order that the child be placed in foster care until the issue is resolved.
One of the best ways to prevent your children from having to endure unnecessary trauma is to create a will or other legal documents that dictate your final wishes.
Why Would I Need to Update an Existing Estate Plan?
Reviewing an existing estate plan every three to five years is always a good idea to ensure it aligns with your wishes. Over the years, situations may necessitate updating an existing estate plan.
Some of the most common events that call for an estate plan to be updated include:
- A significant life event: Events such as divorce, marriage, birth, adoption, or death are all good reasons to review your estate plan. For example, in divorce cases, you want to be sure that you update beneficiary designations and change the power of attorney if it was your former spouse. Depending on the circumstances, you may also need to add or remove beneficiaries.
- Changes to your financial situation: With the ever-changing economic markets, you may experience economic shifts such as an increase or decrease in the value of your investments, receive a substantial inheritance, or experience financial losses be grounds for amending your estate plan.
Other reasons that may facilitate a review of an existing estate plan include changes to state and federal tax laws that could increase the tax burden on your heirs, or if you move out of state. An estate plan should stay current to avoid potential estate litigation after your death.
If you would like to review your current estate plan or make changes, contact our Northern California law offices today to schedule an appointment with one of our California attorneys.
Why Should I Choose Your California Law Firm to Help Me With My Estate Planning Matters?
At Baron Family Law, PC, we realize that it can be challenging to contemplate life for your family after your death. Nevertheless, creating a comprehensive estate plan is one of the easiest ways to ensure your family does not have to wait to receive their rightful assets and begin the next phase of their lives.
When you come to us for help, a California estate planning attorney can meet with you to discuss how to provide for your family and heirs. We have extensive experience creating custom estate planning legal documents that hold up to legal scrutiny.
Our dedicated legal team can also assist you with other legal services, such as probate law or trust administration. Our primary goal is to help clients protect their assets and ensure they are distributed according to their wishes after their deaths.
If you are looking for a law firm that will give you the personal attention you deserve, contact Baron Family Law, PC in California, to schedule a consultation so we may evaluate your case professionally.