Five Goals You Can Accomplish With An Estate Plan

Estate Planning Goals for San Diego, CA Residents

What is the purpose of your estate plan? Is it to protect your assets from the estate tax or leave your children an inheritance? Or is it something more — providing for your personal financial security throughout your life, allowing you to leave a lifelong legacy for your family?

Casiano Law Firm in San Diego, CA can help you design an estate plan that aligns your intentions with available government long-term-care benefits. Estate planning is the best strategy! Contact estate planning attorney Vinny Casiano now for a no-charge phone consult!

What are the Five Goals You Can Accomplish with an Estate Plan in San Diego, CA?

Estate planning fulfills five primary goals, at least one of which will undoubtedly apply to you. You can do the following with a solid estate plan:

You Can Decide Who Gets Your Property in California

When there is no will in California, who inherits what? A basic estate plan prepared by a professional can spare you from the problems that come with inadequate planning.

Are you dying intestate? You should probably give it some serious consideration. The state will decide how your assets are distributed if you die without a will or other estate plan. This will typically be per whatever laws are in effect in your state at the time of your death. This implies that your heirs will get your property and assets upon death.

However, you will have no say in who receives what or how the distribution is made. This may be a brother you haven’t talked to in 10 years, an ex-spouse amid a divorce or a parent who has neglected you. Also, if you and your unmarried partner share a home and die, your unmarried partner may get nothing.

Schedule an appointment now if you’re ready to create the best estate plan for your family. You can trust Casiano Law Firm to provide you with all the facts you need to make sound choices about your future.

You Can Avoid Probate in California

The legal process known as “probate” (transferring a deceased person’s assets to their heirs) can be time-consuming, expensive, and difficult to understand. It’s no surprise that a large number of people take precautions to save their families the trouble. However, various states provide different means to escape probate. In California, these are your options.

  • Living Trusts
  • Joint Ownership
  • Payable on Death Bank Account Designations
  • Transfer-on-Death Registrations for Securities
  • Real Estate Transfer-on-Death Deeds
  • Vehicle Transfer-on-Death Registration

Do you have probate or trust concerns? Get Help from the probate and trust litigation attorney at Casiano Law Firm RIGHT NOW!

You Can Choose A Guardian for Your Child in California

Regarding estate planning, living Trusts, powers of attorney, and will get the most attention. However, it is as vital to think about guardianship designation. Whether married or single, individuals and couples should consider this aspect before addressing property-related concerns.

It may also help the court decide who will have custody of the minor and serve as guardians for any other children.
If you need assistance in naming a guardian for your young children in California, seek the advice of a San Diego estate planning attorney. Preparing for your child’s future and knowing they will be in excellent hands makes sense and will give you peace of mind.

Contact us immediately to schedule a no-charge phone consult on California estate planning!

You Can Provide for Your Incapacity

What will happen to your finances if you become incapacitated? Who will make important healthcare decisions for you when you cannot communicate? How will your financial commitments, from salary to debt repayment, be addressed when you are in a coma?

In the majority of these cases, a court will decide the matter for you, either indirectly or directly (by appointing a conservator), unless you choose to make that decision first.

Incapacity planning entails preparing and notarizing various documents that record your decisions on critical issues (such as life-saving medical treatments and exceptional measures) and naming particular people to represent you in specific scenarios (your sudden incapacity, for example).

Estate and incapacity planning tools may help you plan for the worst-case scenario, including unfathomable and unanticipated events. The two are inextricably linked: incapacity is always a possible forerunner to death, and both need contingencies. Whereas a will reflects your instructions after death, incapacity planning must address what you want to be done while you are still alive. Contact California estate planning law firm, Casiano Law Firm, immediately to discuss your specific situation and options!

You Can Minimize Estate Taxes

Casiano Law Firm in San Diego, California can help you explore strategies to minimize or eliminate federal estate taxes if your estate is substantial enough. One alternative is to leave a significant percentage of your estate to your spouse in your will or trust since distributions to a surviving spouse are exempt from estate taxes. If you do not have a surviving spouse or wish to leave more of your assets to your children and other beneficiaries, you must explore various strategies.

Establishing an irrevocable trust is one of the most effective strategies. When you create an irrevocable trust, the assets you use to finance it are no longer considered part of your estate, which can help you avoid exceeding the federal estate tax threshold.

You may choose anybody you want as a beneficiary of your irrevocable trust, and you can specify how and when the assets will be distributed. When compared with simply gifting the assets, this usually delivers tax savings. When the trust is effectively structured, you may also reduce taxes on the trust’s revenue. However, once the trust is created, you can no longer access the assets, and you will be unable to cancel or change the trust without the beneficiaries’ consent.

Although reducing your tax burden through your estate plan may be complex, competent legal counsel can help you accomplish your goals. Book a no-charge phone consult now so Attorney Vinny can help you understand your legal options.

Talk to a Reliable San Diego Estate Planning Attorney Now!

San Diego probate and trust litigation attorney Vincent Casiano can help you with any issues you may be having with will or trust disputes, fiduciaries, or complex estate planning. Today is the day to act on the high-quality and individualized legal services you need! Call us now!

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