McCunn Law — Your Placer County, CA Estate Planning Experts
The benefits of a quality estate plan are many. Here are some of the ways an estate plan from the expert estate planning and probate team at McCunn Law can help you and your loved ones:
- Peace of mind.
Your family deserves to mourn in comfort and to do so at their own pace. A comprehensive estate plan ensures this is possible. Your loved ones get the assets you have bequeathed them in a timely fashion instead of being forced to put their time, energy, and focus into settling your affairs and managing a tedious probate process during an already-difficult transition.
- Lower costs.
While the services of a qualified estate planning attorney can represent a significant investment, it’s one that often pays for itself. The probate process can be a long, drawn-out ordeal that accumulates steep court costs and attorney fees. Furthermore, if your assets are not distributed according to your wishes, you and your family have gained nothing (and potentially lost much) by avoiding estate planning fees.
- Protect your own rights and desires.
Sometimes people have a limited view of estate planning and believe the phrase is synonymous with a last will and testament. In reality, your will may only represent one aspect of your comprehensive estate plan. A complete estate plan can consist of multiple different legal tools, including trusts and powers of attorney that may come into effect during your lifetime rather than only being enacted upon your death. For example, you can establish guidelines and funding for your long-term care or file a legally-binding record of your wishes regarding critical emergency medical decisions.
How to Know When You Need Estate Planning Services in Placer County, CA
Even with fairly simple situations, working with the qualified estate planning team at McCunn Law gives you the peace of mind that comes with knowing your last wishes are legally enforceable. It also gives your heirs the gift of avoiding a lengthy, costly probate process— or dramatic legal battles among themselves — to obtain the assets you’ve left to them.
If any of the following situations apply to you or your Placer County estate, you want to seek expert legal advice from a qualified California estate planning attorney:
- High-value assets, such as businesses, homes and real estate, or major investments
- Unique assets, like valuable collections, intellectual property, trusts, or accounts shared with a business partner
- Complex estates with many different types of assets
- Complex family/inheritance situations, such as multiple children with multiple partners
- Complex debts, such as if you hold accounts with many different creditors
- Setting aside a portion of your estate for a charity or special fund, or the establishment thereof
- Specific needs or desires pertaining to end-of-life medical care
- Chronic medical condition making temporary or permanent incapacitation likely in the future
- Reaching advanced age and have not yet prepared a will
- Concerns that third parties, such as business partners or disinherited family members, might wrongly attempt to insinuate themselves in the probate process
- Desire to protect assets with a trust for future disbursement
- Inadequacies or outdated information in a previous estate plan
Estate planning services from McCunn Law are truly comprehensive and completely personalized. Whether you are planning for the succession of a multi-million-dollar company, divvying up a classic car collection among your friends and family, leaving it all to charity, or arranging care for a beloved pet, our client-focused, detail-oriented estate planning experts can guide you through drafting and filing all of the necessary documents.
Legal Instruments Used for Placer County, CA Estate Planning
Your estate plan may look vastly different from someone else’s, depending on the things you own, the relationships in your life, and your personal wishes. Because needs and goals can vary so widely from person to person, there are a number of legal documents that may be employed in creating your estate plan beyond the well-known last will and testament. They include:
While wills are not the “one size fits all” estate planning document some laypeople take them for, they are nonetheless a crucial part of estate planning. Wills come in several varieties, including some that have implications while you’re still alive, but a last will and testament is a powerful, legally-binding guideline for the handling of your finances and property upon your death. While you may find downloadable last will and testament templates for a fee, these are often too generic to truly protect your assets, your wishes, and your family’s needs. A proper will functions by designating an executor — a trusted party who sees that the will is carried out to the letter. The executor usually receives some predetermined portion of the proceeds for performing this duty. The executor could be a trusted friend of the deceased, but it’s likely to be a licensed attorney in the case of larger, more complex estates.
There are several different kinds of trusts available, and each type works a bit differently. The trust that best covers your individual needs depends on various circumstances, such as what assets you’re placing in the trust and for what purpose. Living trusts, revocable trusts, irrevocable trusts, and charitable trusts are just a few of the more common tools available to you when establishing a trust. Specialized trusts can also be used to set aside funding for special circumstances, future generations or to help restructure the tax burden involved with transferring your estate to your heirs. Your estate planning attorney can help you determine the best strategy for putting your assets in trust.