Your Estate Plan Should Reflect Your Life And Those You Love

Estate planning involves putting the necessary legal documents in place to protect one’s assets and make sure they pass to loved ones in the manner you choose. Many people mistakenly believe estate plans are for people who have accumulated significant wealth. The truth is, if you have loved ones in your life and any amount of assets, you should have an estate plan in place.

At the Law Office of Alec Harshey in Hemet, California, we help individuals create estate plans that are tailored to their specific goals. We bring the same personal approach to our estate planning clients that we provide in all other areas of law that we practice. The result is a client-friendly atmosphere in which we will take the time to fully explain what different estate planning tools accomplish and why they may make sense for you.

The Estate Plan Essentials

In many ways, estate plans are as unique as each individual who creates one. However, there are basic components that every estate plan should feature. Our law firm provides clients with an estate planning package that includes:

• A will that spells out how to distribute your assets after your death
• Power of attorney for health care and financial matters, which designates a trusted person (or more than one person) to make decisions on your behalf if you are unable to do so
• A living trust that can avoid the hassles and delays of probate or help you accomplish specific goals for inheritance and your legacy

A Full-Service Approach To Wills And Trusts

We not only customize these documents for the individual but we follow through. This is something we believe sets us apart from other providers. Our attorney and staff assist clients with transferring property to the trust, recording the deed, reporting requirements and other important details.

Navigating Probate
Our estate law services also include assisting clients with probate, the court-supervised process of administering the estate of a loved one who has passed away. We guide personal representative through all the required duties.

Frequently Asked Questions About California Estate Planning

Estate planning can feel overwhelming at first, but many of the concerns people raise are common and can be addressed with careful planning. Our attorney is often asked the same questions by our California clients who want to preserve their wealth and protect their families.

What happens if I die without a will in California?

If you die without a will in California, you die intestate, which means your estate will be distributed according to California’s intestate succession laws. In this process, the law steps in to decide who inherits your property. The probate court will not examine your informal wishes, family expectations or verbal promises to relatives. Instead, it will apply a statutory formula that determines how your assets are divided based on your closest surviving family members.

For instance, if you are survived by a spouse, they may be entitled to all or part of your estate, depending on whether you also have children and whether the property is community property or separate property. If you have children, they may inherit a share of the estate either with your surviving spouse or, if there is no surviving spouse, on their own.

When should I create an estate plan, and what should be included in it?

The need for an estate plan becomes especially important if you own a home, have retirement accounts, have minor children, support dependents or want to maintain control over your medical and financial decisions in the event of incapacity.

Even if your estate is relatively modest, having a plan in place can help avoid confusion, reduce delays in administration and make the process smoother for your loved ones. For parents, an estate plan can effectively address who should care for their minor children if both of them pass away. For people with blended families or business interests, estate planning becomes even more vital because the risks of legal disputes or unintended outcomes also increase.

How often should I update my estate plan?

Major events affecting your family, finances, health or personal relationships can make an existing estate plan outdated or incomplete. As a general rule, it is wise to revisit your estate planning documents with a lawyer every three to five years to make sure they still reflect your wishes and remain effective under current law.

It is especially important to update your estate plan after events such as marriage, divorce, the birth or adoption of a child, or the death of a beneficiary or fiduciary. You should also review your estate plan if your financial situation changes substantially such as when you buy or sell a home, or experience an increase or decrease in assets. Changes in tax laws or a decline in your health may also require updates to ensure your documents still work as intended.

Time To Create Or Update Your Estate Plan?

We welcome the opportunity to meet with you to discuss your estate planning needs. Our lawyer serves clients throughout the Inland Empire, including Hemet, San Jacinto, Perris, Temecula, Murrieta, Lake Elsinore, Banning, Beaumont, Palm Springs and Palm Desert. Call 877-824-8147 or use our online contact form to schedule a meeting.