Estate Planning
PRESERVE YOUR WEALTH LEAVE A LEGACY
Estate Planning protects your assets
(everything you own)
in the best possible way during your lifetime and that of your "beneficiaries" after your death. The primary
purpose of an Estate Plan is to help you examine your financial needs and assets in order to pass your
wealth on to your beneficiaries efficiently and privately. If the estate plan has been well planned, your
assets should be distributed according to your wishes in a minimum of time and expense. Poor planning may
lead to lengthy probate, probate fees, and taxes.
Unfortunately, most people do not take the time to become aware of the differences between good estate
planning and poor estate planning.
Many people believe that if they have a valid will, their estate will not have to go through probate.
This is simply not true. Wills by their very nature must go through probate. If you do not have
an estate plan, the State of California will direct distribution of your assets according
to law, known as "intestate succession."
The typical intestate succession in California will give
your assets to your issue (children, grandchildren, great-grandchildren, etc.), then to your parents, or
to your siblings if you have no children and your parents are deceased. The safest and best way to avoid
probate is the Revocable Living Trust, which is settled privately, quickly and without the major expense
of probate court.