Planning for your retirement is an important part of life, particularly in light of the uncertain times we live in. In addition, planning for the distribution of your property after you pass is equally important for both you and your loved ones. Our estate planning attorneys in Solana Beach will help you make the arrangements you need for your peace of mind.
Do not delay in laying the groundwork for your future. The skilled estate planning attorneys in Solana Beach at Mayfield Bustarde, LLP have the knowledge needed to draft effective will and trust instruments. Contact us online or call 858.793.8090 for a free consultation about wills and trusts in Solana Beach.
California Estate Planning Strategies and Instruments
The first step in developing an estate plan is to sit down and discuss your goals with regard to retirement and the support and care of your loved ones in the future. In addition, it is good to look at eventualities such as incapacitation or other serious medical complications.
The next step is creating a framework to support your goals with our estate planning attorneys in Solana Beach. The attorneys at Mayfield Bustarde, LLP, have the skill to draft the relevant estate planning documents for any situation. Some common examples of wills and trusts in Solana Beach include:
- Living trust: A living trust is like a will in that you can specify how you want your assets to be divided after your death. Where it differs is that you actually transfer your interest in the property and assets to the trust during your lifetime. Upon your death, they can pass directly to your beneficiaries without going through probate, saving your loved ones from the expense, time and hassle of probate. The ability to bypass probate is an extremely attractive option for some people.
- Last will and testament: A last will and testament contains instructions on how you want your property to be distributed upon your death. It can also state whom you wish to assume guardianship responsibility of any minor children in the event that there is not a surviving parent. Last wills are subjected to the probate process which, depending on the size of your estate, can take an extensive period of time to complete. Even if you already have a living trust in place, you still need a pour over will to transfer any property outside your trust to your trust to avoid probate nominate a guardian for any minor children.
- Codicil: A codicil is an addendum to an existing will. You should update your will every few years or whenever a major life change takes place. Events like a birth, death, marriage or divorce can greatly affect both the probate process as well as your own personal wishes. Reviewing your will ensures your wishes are accurately reflected in the document.
- Living will: A living will, also known as an advance healthcare directive, is a legal document used to specify your wishes for health care decisions. It appoints another person to make health care decisions for you if you are incapacitated. It also states what type of life-prolonging treatments you desire in a situation where you are unable to make your own medical decisions. Having an advance health care directive lets others know what your wishes are when you are unable to communicate them yourself.
- Durable power of attorney: A power of attorney allows someone to act with authority on your behalf, usually with respect to your financial affairs. A durable power of attorney remains in effect if you become incapacitated. In cases of terminal illness or permanent unconsciousness, you can set out financial arrangements and other instructions.
At Mayfield Bustarde, our lawyers provide our clients with effective, compassionate assistance in planning for the future. Discussing issues that touch on the mortality of our clients can be a sensitive area, and we treat them with the respect that such decisions deserve. We offer independent legal advice and analysis of your plans so that we can come to an agreement that allows you to meet your goals.
For Wills, Trusts and Asset Protection, Contact Our Attorneys Today
To start planning for the future, contact us online, or call 858.793.8090 for a free initial phone consultation with one of our experienced will and trust lawyers in Solana Beach.