Our firm, The Law Office of Tony J. Tyre, Esq, APC, with Offices in Covina and Temple City, California always offers complementary estate planning consultations to educate our clients and our community about the benefits of estate planning. Estate planning is an essential part of preparing for the future, so a free estate planning consultation is the best way we can help you get started. During this session, our experienced attorneys will review your current estate plan or help you create one if you don’t have one already.
The four essential estate planning documents are:
Revocable Living Trust
We create the deed (or deeds) to transfer property (or properties) from your name as an individual to your trust’s name.A Living Trust is a document that allows your beneficiaries to avoid probate court, which can be both expensive and time-consuming. You choose the “successor trustee”, the person (or persons) you designate to be in charge of dispersing your assets among your beneficiaries.
Another benefit of this is that it can be amended or revoked. We transfer real property (e.g., your home), personal property (e.g., household belongings), and many of your other assets. We create the deed (or deeds) to transfer property (or properties) from your name as an individual to your trust’s name. More information on Revocable Trust can be found here.
Pourover Will
Essentially, a “catch all” document that works with the living trust to ensure that all your assets in Covina and Temple City, CA have been moved to the trust. Basically states, “Anything I accidentally left out of my trust, I leave to my trust.”
Durable Power of Attorney
A document that is important while you are living, but incapacitated (meaning, you cannot make decisions for yourself).
Applies to financial matters: Specifies who you appoint to make financial decisions on your behalf and what powers that person will have (e.g., power to sign checks, etc.). A power of Attorney in Covina, CA or Temple City, CA can be drafted in multiple ways in regards to “effect” and “power”. Check out more information on Power of Attorney.
Advanced Health Care Directive
Another document that is important while you are living, but incapacitated, but applies to healthcare matters by specifying who you appoint to make healthcare decisions on your behalf and what powers that person has (e.g., remaining or not remaining on life support, donating organs, etc.).
This free estate planning review can help ensure that your wishes are carried out and your assets are distributed according to your desires. Additionally, a well-crafted estate plan can help minimize taxes and avoid probate, saving your loved ones time and money. Don’t miss out on this opportunity to secure your legacy and provide peace of mind for yourself and
your family.
If you do have an estate plan, the most common documents we redraft are your Durable Power of Attorney and Advance Healthcare Directive documents. The reason for redrafting these documents is that financial and health institutions often do not like accepting these documents if they are over five years old since there is a higher likelihood of fraud or improper documents being submitted.
Further, if you already have a trust, you may want to consider adding extra protection for your minor children through a Kid’s Protection Plan or your adult beneficiaries through a Personal Asset Trust.
Please contact us if you would like to book a free estate planning consultation in one of these ways:
Telephone: 626-858-9378
Email: info@tyrelawgroup.com
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