Probate in California - Pomona Probate Lawyer
If you think that your will is all you need to worry about, perhaps you should take a second look at your circumstances. A will is only one part of a full estate plan, and only relates to the disposition of your property after your death. Even with a will, your estate may be subject to probate laws that negate your intentions, and it will certainly be subject to inheritance taxes. A Pomona probate lawyer can help you arrange your estate to avoid excessive taxes - as high as 44% in some cases - and the inconvenience and expense of probate court for the beneficiaries of your will.
Thinking in terms of estate management rather than 'leaving a will' can also help your family and loved ones in other ways. Among the documents that fall under the rule of the probate court are living wills, living trusts, powers of attorney, medical proxies, guardianship and conservatorship papers. Each of those provides ways of ensuring that you are properly cared for and safe-guarded in the event that you are unable to make decisions for yourself.
A will is a written statement by a person that states how they want their property distributed after their death. A will allows you to select the person responsible for seeing to it that your wishes are carried out, explain how to pay your obligations and debts, make specific bequests and gifts of your property to specific people and organizations, name a guardian for your minor children and specify your preferred burial arrangements. A will is only acted upon after the death of its maker.
A trust is a legal instrument that puts the property of one person into the keeping of another for various purposes. The person who is in charge of the trust, called the trustee, can make all legal decisions regarding the property on behalf of the beneficiary, the person for whom the property is being held and managed. Living trusts are often used to avoid estate taxes by transferring property to its intended recipient while the grantor is still alive, while maintaining the right to manage and use the property until the grantor's death or another specific incident.
Power of attorney gives a person that you trust the legal right to make decisions for you in the event that you are incapacitated either physically or mentally and unable to make your own decisions. Powers of attorney may be very broad, or may have a narrower focus. A Health Care Power of Attorney, for instance, gives a person the right to make decisions about your health care. If you become incapacitated without having established a power of attorney, the probate court may appoint a guardian or conservator to manage your affairs and safeguard your interests.
Living wills and health care directives both allow you to deliver your decisions about your health care in the event that you are later incapacitated.
A Pomona Probate Attorney can explain the details of each of these options, as well as discuss other possible strategies that may be useful in event planning. If you're considering the different ways to protect your rights, your estate and your heirs, consult a Pomona probate lawyer for more information.
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