Wills and Trusts Attorney

Estate planning protects your legacy for future generations and ensures that your wishes are honored after your death or incapacitation. A will is the cornerstone of an estate plan. Even if you have one or more trusts that hold most of your assets, you need a pour-over will for any assets not held by a trust.

At Horizon Elder Law & Estate Planning, Inc., our legal team works with you to prepare a comprehensive estate plan tailored to your priorities and needs. Our founding attorney has over 22 years of experience in estate planning, wills, and trusts. With her experience and knowledge of insurance and estate law, you can trust your estate plan will

Contact Horizon Elder Law & Estate Planning, Inc. to schedule a consultation with an experienced Contra Costa County wills and trust attorney.

How Horizon Elder Law & Estate Planning, Inc. Can Help You With Creating Wills and Trusts in California

Our attorney is a recognized leader in elder law and estate planning. We help you with all aspects of an estate plan, including reducing estate taxes, charitable giving, incapacity planning, trusts, long-term planning, Medi-Cal planning, and much more.

When you hire our top-rated Contra Costa County estate planning attorney, you can:

• Work with you to determine your needs, goals, and priorities for estate planning
• Identify various estate planning tools that can be useful in accomplishing your goals, including trusts, powers of attorney, health care directives, etc.
• Discuss your desires for guardians and trustees for your minor children
• Engage in effective estate planning strategies for asset protection, gifting, and tax planning
• Prepare all documents and review them with you to answer questions and address changes
• Conduct period reviews of your estate plan to ensure it continues to address your needs and desires, including drafting new documents to make necessary changes

Attorney Julie M. Fiedler is a Certified Elder Law Attorney by the National Elder Law Foundation. She is also a member of the National Academy of Elder Law Attorneys, Inc. and is accredited by the Department of Veterans Affairs to assist individuals with VA matters. Her considerable experience allows our legal team to provide a wide range of estate planning services we tailor to each client.

Call Horizon Elder Law & Estate Planning, Inc. to schedule a consultation with our Contra Costa County wills and trust attorney.

Why Do I Need a Will in Contra Costa County, CA?

A Last Will and Testament (i.e., will) tells your heirs and the court how you want to distribute your property upon your death. However, wills can do much more than distribute property. The reasons you need a will include:

• You can include a testamentary trust for your children. You can name a trustee to manage your child’s inheritance until they reach an age you state in your will.
• You can also choose a guardian for your minor children. Without a will, the court decides who should raise your children after your death.
• Your will names the persona you want to administer your estate. Your personal representative is someone you trust to carry out the terms of your will and protect your estate.
• You can include gifts and charitable donations in your will. You may also leave property to friends and others. Without a will, these entities and individuals would not be able to inherit from your estate.
• You can nominate someone to care for your pets and wishes for your funeral and burial.
• A will can reduce the chance of disagreements and disputes between family members.
• You can choose to disinherit individuals in your will who might inherit from your estate if you did not have a will.
• A will makes probate easier for your family.
• You can change your will whenever you want or evoke it entirely.

Everyone should have a will, regardless of their financial status. You need a will, even if you are single and do not have any children. When someone dies without a will in California, their property is distributed according to the state’s intestate laws.

Intestate laws determine who receives your property upon your death. Typically, the intestate succession begins with your spouse and children. Your parents and relatives will be next in line if you do not have a spouse or children. In addition to determining who receives your assets, intestate laws determine how the assets are divided among your heirs.

The only way to avoid intestate succession is to have a valid will when you die. At a minimum, it is in your best interest to speak with an estate planning lawyer to draft a will to protect your right to decide how your estate is distributed after your death.

What Types of Trusts Are Beneficial in a California Estate Plan?

A trust is a legal contract that creates a fiduciary arrangement between a third party (i.e., trustee) to hold and manage assets for the benefit of the trust beneficiaries. The person who sets up the trust is called the grantor or settlor. The settlor develops the terms of the trust and transfers property into the trust name.

Trusts are governed by state law. California Probate Code Trust Law states that common law applies to trust except when the laws are modified by statute.

Some trusts can avoid probate. The assets in the trust are not subject to estate taxes or the person’s will. Instead, the trust dictates how the assets are used and distributed.

In addition to avoiding probate, some trusts provide a high level of asset protection. Because the trust holds title to the assets, the property is protected from the settlor’s creditors and beneficiaries. However, there are exceptions. Trusts also offer privacy because they are not public records like a probate estate.

The type of trust you use depends on your goals. Our attorney can help you with trusts including, but not limited to:

• Revocable Living Trust – You can change the terms of the trust or terminate the trust. You can also serve as the trustee. The trust becomes an irrevocable trust when you die. Revocable trusts may not offer the same asset protection as irrevocable trusts.
• Irrevocable Trusts – You cannot modify or terminate an irrevocable trust once you establish the trust. Irrevocable trusts have more tax benefits and offer greater asset protection. However, you give up control over the assets because you are not the trustee.
• Charitable Trusts – These trusts benefit a charitable organization or purpose. Charitable trusts can provide significant tax benefits while allowing you to support various charities.
• Special Needs Trust – A special needs trust holds assets for the benefit of a person with a disability or impairment. The trust’s purpose is to provide for the person without jeopardizing their eligibility for government benefits.
• Life Insurance Trust – The trust owns a life insurance policy on your life. When you die, the life insurance proceeds are paid to the trust. The money is managed according to the terms of the trust for the benefit of the beneficiaries.
• Spendthrift Trusts – This type of trust restricts a beneficiary from accessing the assets in the trust directly. Therefore, the trust assets are protected from the beneficiary’s creditors. It also protects the assets from the beneficiary’s poor decisions and impulsive spending.
• Qualified Personal Residence Trust (QPRT) – The trust holds title to your residence. You can live in the residence for a specific period. The trust removes the property from your taxable estate, which could provide tax savings. The trust can ensure the home remains in the “family” instead of being sold with the proceeds divided.

In addition to estate planning, trusts can be useful in incapacity planning. You can set up a trust to hold your assets and name yourself the trustee. If you become incapacitated, the replacement trustee you name in the trust assumes the trustee’s responsibilities. The trust can continue to provide income for your family and could prevent the necessity for a conservator to manage your money.

There are other trusts you can explore with an estate planning attorney to determine if the trusts meet a specific goal or need you have for your estate plan.

Schedule a Consultation With Our Contra Costa County Wills and Trust Attorney

Estate planning is an essential tool used by individuals and families to protect their assets and loved ones. With estate planning tools, you can accomplish your goals and wishes if you become incapacitated or once you pass away. Call Horizon Elder Law & Estate Planning, Inc. to discuss an estate plan with our Contra Costa County estate planning attorney.