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ESTATE PLANNING OVERVIEW living trust, revocable trust, will, trust
A People’s Choice can save you hundreds of dollars by preparing your estate planning documents instead of an expensive attorney!
Estate Planning Learning Center
Our online learning center provides quick access to valuable information contained in our web
site, California and Federal Codes, Court web sites and other legal sources of information.
Creating Your Estate Planning Documents Using our Self-help Services:
Before you actually start to prepare your estate planning documents, you need to know how they work and how each document fits in with your overall estate plan.
Keep in mind that creating your estate planning documents has long-term consequences for your family. There is no
“standard” living trust and therefore, it is not required that trusts be written in “legalese” (language that is peculiar to the
legal profession). Although no legalese is mandated, it is prudent to utilize forms that are sufficiently traditional and, if
necessary, comply with current statutes. You can easily create your estate planning documentation, in most cases, with
the assistance of a registered Legal Document Assistant, that utilizes the latest and most up-to-date self-help software.
Doing so, however, necessitates you educate yourself about your options so that you can make well-informed decisions.
Planning Your Estate: Estate planning is the process of considering all alternatives regarding:
- How to avoid probate
- How your assets will be managed for your benefit if you are unable to do so
- When certain assets will be transferred to others, either during your lifetime, at your death, or sometime after your death
- To whom those assets will pass
- Establishing arrangements that will meet your objectives if something happens to you or those you care about
Estate planning typically minimizes potential estate taxes and fees, establishes contingency plans regarding your healthcare
treatment and management of finances if you become incapacitated, itemizes how you want your property distributed
when you die as well as provides for the care of your minor or disabled children. You should have an estate plan if:
- You are the parent of a minor or disabled child.
- You have property that you care about.
- You care about your health care treatment.
A comprehensive estate plan is important to accomplish you estate planning goals. In starting to consider you estate plan,
you should ask yourself the following questions:
- What are my assets, and what is their approximate value?
- Whom do I want to receive those assets and when?
- Who should manage those assets if I cannot, either during my lifetime or after my death?
- Who should have responsibility for the care of my minor children if I become incapacitated or die?
- If I cannot take care of myself, who should make decisions on my behalf concerning my care and welfare?
Basic estate planning goals may be accomplished with an estate plan consisting of:
- Will
- Durable Power of Attorney for Finances
- Advance Health Care Directive
If your needs require more, your estate plan may also include a Revocable Living Trust.
Beware of Financial and Estate Planning Services:
There are many who call themselves “Trust Specialists,” or
“Certified Planners” or other titles which are intended to suggest that the person has received advanced training in estate
planning. California is experiencing an explosion of promotions by unqualified individuals and entities which have only one
real goal –- to gain access to your finances in order to sell insurance-based products such as annuities and other commission-based product. Here are some helpful hints and suggestions:
- Before considering a living trust or any other estate or financial planning document or service, consult with a
lawyer or other financial advisor who is knowledgeable in estate planning, and who is not trying to sell a product which may be unnecessary.
- Always ask for time to consider and reflect on your decision. Do not allow yourself to be pressured into purchasing any estate or financial planning product.
- Be wary of home solicitors who insist on receiving confidential and detailed information about your assets and finances.
- Report high-pressure tactics, misrepresentations or fraud to the police immediately.
- Know your cancellation rights. California law requires that sellers who come to your home to sell goods and
services (not including insurance and annuities) that cost more than $25 must give you two copies of a notice of
cancellation form to cancel your agreement. You, the buyer, may cancel this transaction at any time prior to midnight of the third business day after the date of the transaction.
A People’s Choice can save you hundreds of dollars by preparing your estate
planning documents instead of an expensive attorney!
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