Set Your Final Wishes in Stone
Ask About Our Will Preparation Services In Santa Clarita, CA
In order to keep the courts from making decisions about your estate, you need legal documents that spell out your final wishes. The most important estate planning tools are wills and trusts. Attorney Andrew Cohen of the Law Offices of Andrew Cohen has decades of trust and will preparation experience in the Santa Clarita, CA area. You can count on him to guide you through the process with the utmost care.
Reach out to the Law Offices of Andrew Cohen today to learn more about our trust and will preparation services. Attorney Cohen will be glad to answer your questions.
Understanding The Need For A Will
Most people have heard of The last will and testament, and just about everybody should have one. Regardless of how wealthy you may be, it will is an important way to ensure that you, not anybody else or the courts in California, get to decide what happens to your assets after you pass away. The last will and testament can specifically spell out any inheritance rights, name guardians for minor children, forgive any debts, and more.
Please understand how important it is to keep your will updated regularly. This is particularly true if you or your family undergoes any major life changes, if you see a significant reduction or increase in assets, become ill, etc. Additionally, in the absence of any major life-changing events, you should still review your will every few years to ensure the language lines up with your current wishes.
Is A Trust The Best Estate Planning Tool For Your Family
While you’re most likely familiar with wills, you might not know as much about trusts. A trust is another way to pass your assets down to your loved ones, often allowing them to skip the probate process. Do not underestimate how complicated the probate process can be on your loved ones after you pass. Unfortunately, the probate courts in California often make decisions that would likely go against the wishes of the person who passed away. There are various types of trusts that can help a person and ensure their assets end up exactly where a person wants them after they pass away. The major benefit of us trust is that a person is allowed to retain control of and use their assets while they are alive and able to do so.
Attorney Cohen has the knowledge and skills needed to prepare a wide range of trusts, including:
- Living trusts – A revocable living trust is a common tool used in estate planning in California. These trusts are called revocable because they allow the individual who makes them make changes throughout their lifetime as life circumstances change over time. Similar to a traditional trust, assets within a revocable trust typically do not go through the probate process after the principal passes away.
- Special needs trusts – A special needs trust is specifically designed to ensure that individuals with various disabilities have someone in place to manage their assets while also being able to retain their SSI and Medicaid benefits. These trusts are often established for those who are considered disabled and unable to work during their lifetimes.
- Spendthrift trusts – A spendthrift trust is established for a person who, for various reasons, may not have the temperament to adequately control their assets. This could be due to various mental health or mild developmental disabilities.