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Estate Planning – Trust Litigation – Inheritance Disputes – Product Liability – Probate & Business – Trust Administration – Tax Planning
Are you looking for an estate planning attorney San Clemente, CA, residents trust? Our top industry-leading attorneys are experienced in the area of estate planning. We are dedicated to helping our clients realize their financial objectives. Whether you need to establish a basic will or require more sophisticated planning involving living trusts, we are here to provide the best advice.
Who Will Inherit Your Estate?
Estate planning in San Clemente, CA, is arranging who will inherit the estate after its owner is gone. The goal of an estate plan is to designate the heirs of assets. Regardless of the size of the estate, all estates need a plan to protect the future beneficiaries.
Benefits of Estate Planning
If a proper estate plan is not intact, the court will decide estate affairs. An estate plan ensures that you’re in charge of where your assets go instead of the court. Planning allows you to choose who will inherit everything you’ve worked so hard for in your life.
Your loved ones will have to settle your affairs after you are gone. An estate plan makes this process much less difficult for them. Furthermore, settling assets in probate can become costly. Unfortunately, it can also lead to strife in your family. This is especially true if family members disagree on specific terms. During an already difficult time, family members mustn’t be pitted against one other while settling affairs. Having everything preemptively planned for them will keep things straightforward and peaceful.
Estate planning also reduces taxes on what you leave behind. A qualified estate plan professional can advise you on utilizing giving tactics and setting up trusts. Furthermore, experienced estate planning services provide a host of knowledgeable tips to help you decrease the tax burden your loved ones will have to face otherwise. Even just a bit of planning can significantly reduce inheritance tax.
When Should I Start Estate Planning?
The sooner you start estate planning, the better. It’s far better to estate plan when you have time to explore options and make rational decisions. The result of a clear estate plan is less confusion and disputes among family members and heirs.
And just because you start early does not mean your estate plan has to be set in stone. They can change. In fact, you should review your estate plan regularly. They should be updated during times of significant change, such as marriages, births, divorces, and deaths. In some circumstances, even shifts in financial circumstances warrant an update to your estate plan.
Did You Know?
Under intestacy laws, when a person dies without a will, what they leave behind goes to their family. However, if no eligible relatives are found, the assets typically pass to the government, referred to as “escheat.” Therefore, estate planning is essential even for those who do not have a family to pass down their assets to. Estate planning will allow these individuals to pass on their assets to the people, charities, or organizations of their choice. Estate planning ensures the planner decides exactly where their wealth goes after passing on, not leaving it up to the court to make that decision.
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SOUTHERN CALIFORNIA ATTORNEYS
We are an industry-leading estate, trust, and probate attorney serving clients with estate planning in San Clemente, CA, and surrounding communities within Orange County, including Irvine and Laguna Beach.
We are an industry-leading estate, trust, and probate attorney serving clients in Irvine, CA, and surrounding communities within Orange County, including Laguna Niguel and Dana Point.