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Estate Planning Attorney Los Angeles

A common myth in dealing with estate planning is that people think that they do not need an estate plan, such as a will or a trust, because they are single or do not have enough assets. But having a well-drafted estate plan can mean all the difference in the world. It will ensure that your estate is passed to who you want, when you want, so that your loved ones will not have to deal with the long probate process, which can be costly and time-consuming.

A person as young as 18 can have a will, and it is especially important for persons who are married (with or without children) or in the armed forces to have a will or a trust so that loved ones can be properly cared for in the future.

A will or trust will give you the peace of mind that your wishes are being carried out as you planned. A will can provide for and designate specifically what you want for your spouse and your children, or even disinherit someone

Problems arise when there is no will or trust, or if there is a will or trust that has not been executed properly.

Some grounds for contest are:

• Certain legal formalities were not followed during execution;
• The deceased lacked the mental capacity to properly execute the document;
• The deceased was unduly influenced or coerced when executing the document;
• There is a recent document that distributed the assets differently or to different people

It is important that there is a plan in place that will take care of any real property, royalties, bank and brokerage accounts, CDs, stocks and bonds, IRA’s, automobiles, and certain personal property. A will or trust can also provide tax advantages for both the giver and the receiver.

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