Estate Planning2018-03-24T15:58:49+00:00

Do I Need An Attorney For Estate Planning?

Before you actually start to prepare your California estate planning documents, you need to learn about the different documents involved in good estate planning and how each document fits in with your overall estate goals. Keep in mind that creating your estate planning documents has long-term consequences for your family. More importantly,  there is no “standard” living trust and, therefore, it is not required that trusts be written in “legalese” (language that is peculiar to the legal profession).

Remember, although no legalese is mandated, it is wise to use forms which are sufficiently traditional and, if necessary, comply with current statutes. For ecample, don’t fall into the trap of a being “a dollar wise and a penny foolish” by preparing documents without any professional help. After all, you can inexpensively create your estate planning documentation, in most cases, with the assistance of a registered Legal Document Assistant, that utilizes the latest and most up-to-date self-help software. Doing so, however, requires that you educate yourself about your options so that you can make wise, well-informed decisions.

California Estate Planning

What is Estate Planning?

California estate planning is the process of considering the following:

  • How to avoid probate.
  • How your assets will be managed for your benefit if you are unable to do so.
  • When certain assets will be transferred to others, either during your lifetime, at your death, or sometime after your death.
  • To whom those assets will pass.
  • Establishing arrangements that will meet your goals if something happens to you or those you care about.

Estate planning has many purposes. First, estate planning can lower potential estate taxes and fees. Secondly, estate planning can set up contingency plans about your health care treatment and management of finances if you become incapacitated. Lastly, estate planning can identify how you want your property distributed when you die, as well as provide for the care of your minor or disabled children. You should have an estate plan if:

  1. You are the parent of a minor or disabled child.
  2. You have property that you care about.
  3. You care about your health care treatment.

Estate Planning Considerations

A comprehensive estate plan is important to carry out your estate planning goals. While considering your estate plan, ask yourself the following questions:

  • What are my assets, and what is their approximate value?
  • What people or charities do I want to receive those assets and when?
  • What person do I want to be responsible for the care of my minor children if I become incapacitated or die?
  • Who do I want to manage those assets if I cannot, either during my lifetime or after my death?
  • If I cannot take care of myself, who do I want to make decisions on my behalf about my care and welfare?

Basic estate planning goals may be accomplished with an estate plan consisting of:

  1. Will
  2. Durable Power of Attorney for Finances
  3. Advance Health Care Directive

If you own real property or your assets exceed $150,000 in gross value, your estate plan may also include a Revocable Living Trust. You may want to check our list of common terms used in wills and trusts in estate planning documents or watch our video on California Estate Planning.

There are many people who call themselves “Trust Specialists” or “Certified Planners” or other titles intended to “suggest” that the person has received advanced training in estate planning. California is experiencing an explosion of promotions by unqualified people and entities which have only one real goal –- to gain access to your finances to sell you insurance-based products such as annuities and other commission-based product. Here are some helpful hints and suggestions:

  • Before considering establishing a living trust or any other estate or financial planning document or service, consult with a lawyer or other financial advisor who is knowledgeable in estate planning. Most importantly, this discussion should be with a person who is not trying to sell you a financial product which may be unnecessary.
  • Always ask for time to consider your options before you make a decision. More importantly, do not allow yourself to be pressured into purchasing any estate or financial planning product.
  • Be wary of home solicitors who insist on you giving them confidential and detailed information about your assets and finances.
  • Report high-pressure tactics, misrepresentations or fraud to the police immediately.
  • Know your cancellation rights. California law requires that sellers who come to your home to sell goods and services (not including insurance and annuities) that cost more than $25 must give you two copies of a notice of cancellation form to cancel your agreement. You, the buyer, may cancel this transaction at any time before midnight of the third business day after the date of the transaction.

Get help with California estate planning today!

A People’s Choice can save you hundreds of dollars by preparing your estate planning documents instead of an expensive attorney!

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Description of Will Documents (Notary fees additional)Price
Will (individual)$200
Codicil to Will$125
Will package (individual) includes Will, Healthcare Directive and Financial Power of Attorney$250
Will package (couple) includes 2 Wills, 2 Healthcare Directives and 2 Financial Powers of Attorney$399
Other ServicesCall for Quote
Description of Trust Documents (Notary fees additional)Price
Revocable Trust or Restatement of Revocable Trust (Individual) Trust or Trust Restatement only (you must have an existing revocable trust)$300
Revocable Trust or Restatement of Revocable Trust (Couple) Trust or Trust Restatement only (you must have an existing trust)$400
Revocable Trust or Restatement of Revocable Trust Package (Individual) Includes Trust, Pour-over Will, Certificate of Trust, Healthcare Directive, Financial Power of Attorney and estate folder$499
Revocable Trust or Restatement of Revocable Trust Package (Couple) Includes joint trust, 2 Pour-over Wills, Certificate of Trust, 2 Healthcare Directives, 2 Financial Powers of Attorney and estate folder$650
Revocable Trust or Restatement of Revocable Trust (Couple) Trust or Trust Restatement only (you must have an existing trust)$375
Special Needs Trust Designed for beneficiaries with physical or mental disabilities.$700
Irrevocable Medi-Cal and/or VA Planning Trust$700
Trust Transfer Deed and Preliminary Change of Ownership (California property)$200 ($100 discount w/trust pkg)
Trust Transfer Deed (Out-of-State property)$275 ($150 discount w/trust pkg)
Trust Transfer Deed (Timeshare)$275 ($150 discount w/trust pkg)
Description of Individual Documents (Notary fees additional)Price
Will$200
Healthcare Directive$125
Financial Power of Attorney$125
Codicil to Will$125
Trust Amendment$200 and up
Trust Transfer Deed and Preliminary Change of Ownership (California property)$200
Trust Transfer Deed (Out-of-State property)$275
Trust Transfer Deed (Timeshare)$275
Other ServicesCall for Quote
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