Wills & Trusts
Ensure your estate will be executed according to your best interests
Wills, Trusts and Estates in California
Our San Diego Estate Planning Lawyers Are Here to Help
If you pass away unexpectedly or become incapacitated, do you know who will take care of your loved ones? In this day and age, it is critical to develop a comprehensive estate plan that is tailored to your unique financial situation. Every person should have legal documentation that outlines your final wishes and instructions for distributing your assets after death.
Wills and Trusts in Estate Planning
A will (also called a ‘last will and testament’) is one way to state your final wishes in a legal document. With a will you can leave instructions about what should happen to the assets you have accumulated. By creating a will, you can name an executor, designate guardians for your children, leave instructions for your funeral, paying taxes and debts, and even provide for your pets.
A trust is another document that outlines your final wishes, and provides several advantages over a will. Using a trust in your estate plan keeps your assets from passing through probate. In doing so, assets are kept off the public record which offers you protection from court challenges, and your assets are received by beneficiaries in a timelier manner.
A trust is a more complex document that is usually more expensive to create, but it provides a greater tool for passing on your wealth. Depending on your situation, it can reduce estate taxes when leaving your estate to your spouse. You are able to specify in greater detail how your assets are distributed, and add certain stipulations. It paints a clearer, legally binding picture about your final wishes for your estate, and serves to reduce the potential for conflict over the distribution of your assets.
Learn more about wills and trusts in Southern California
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