Sound Estate Planning Advice From Our California Family To Yours
Regardless of your age, or the size of your family or estate, Morris & Morris, in Arcadia can help with creating an estate plan that is tailored to you and your family’s unique situation and goals.
People sometimes think they have nothing to plan for, but an estate plan serves your loved ones not only after you pass away, but also if you are incapacitated. Most people do not pass away peacefully in their sleep after living to a ripe old age. Unfortunately, physical disability and mental incapacity become more likely as we age, and we can prepare for that with a carefully crafted estate plan. In California, probate avoidance is a prime factor in estate planning. In Los Angeles County particularly, probate is an expensive and time-consuming process that can leave beneficiaries waiting for at least a year in simple probate cases. Planning will save your loved ones precious time and money after you are gone.
Sometimes planning includes life insurance as a means to support those who survive you. Planning could mean looking at your savings and investments to see if you are prepared for the future. Planning could mean getting a reverse mortgage to make life more comfortable on a fixed income. We have colleagues who are trusted advisors who can speak with you about insurance, accounting, real estate, and investing. When you work with us, we can provide access to other trusted professionals who can also assist you with your goals for the future. You can trust our office to address your needs with the utmost respect and care.
Which Tools Are Right For You?
There are a number of estate planning tools and related concerns that we can discuss and explain, including:
- Living wills
- “Pour over” wills
- Special needs trusts
- Charitable trusts
- Power of attorney
- Durable power of attorney for health care
- Tax consequences and considerations
- Conservatorship avoidance
- HIPAA authorization
We can help you compare the benefits of a trust-based estate plan with one that is will-based. We can advise and help you prepare a revocable living trust, and we can discuss how to handle estate taxes during the probate process. If you are a young head of household with small children, we are happy to lay out a basic estate plan and then help you update it as your family matures.
At the very least, a suitable estate plan should include some type of life insurance. We can help you determine what would be sufficient to fulfill your insurance needs. You should know from the outset how your investment in a wise estate plan can benefit your survivors. You can trust our full-service estate planning law office to address all of your needs, financial and emotional, with the utmost respect and care.