At the Law Office of Catherine Chukwueke, we believe that informed decisions are the best decisions when it comes to your estate. Below, we've compiled answers to some of the most common questions we receive from clients. If you have specific questions or need further clarification, contact us today at 310-213-7711 to schedule a consultation.
Q: What is estate planning?
A: Estate planning is the process of arranging how your assets will be managed and distributed upon your death. The complexity of the plan depends on the size of your estate, the number of beneficiaries, and the instructions for asset distribution. Estate planning includes both legal and non-legal elements, and we guide you in creating a comprehensive plan tailored to your needs.
Q: What goes into an estate plan in California?
A: An estate plan can include a variety of documents based on your specific needs, such as:
-
Last Will and Testament
-
Living Trust
-
Irrevocable Trusts (e.g., life insurance trusts, special needs trusts)
-
Conservatorship or Guardianships
-
Asset Protection
-
Healthcare Directives (e.g., medical powers of attorney, living wills, DNR, DNI)
-
Business Succession Plans
-
Charitable Planning
Q: What is probate?
A: Probate is the legal process in which the court oversees the distribution of a deceased person's estate, ensuring that debts are paid and remaining assets are transferred to the rightful heirs or beneficiaries.
Q: What happens if I die without a will in California?
A: If you die without a will (intestate), California's intestacy laws will determine how your estate is distributed, which may not align with your wishes. It's important to have a will to ensure your assets go to the people or organizations you want.
Q: What happens to my will if I move to a new state?
A: In most cases, your will remains valid in a new state, but you should review and possibly update it to reflect state-specific laws and your current situation, especially regarding marital property laws.
Q: Do I need a lawyer to write my will?
A: While it's not required to hire a lawyer, it's highly recommended. A lawyer ensures your will is legally valid, comprehensive, and free of ambiguities that could lead to disputes among heirs.
Q: Can I write a will if I have Alzheimer's or dementia?
A: To write a valid will, you must have testamentary capacity. People with Alzheimer's or dementia may struggle with this, so it's important to consult an attorney to ensure the will is properly executed while the person still has the capacity to do so.
Q: Do I need a will if I have no children?
A: Yes, even if you don't have children, you need a will to specify how you want your assets distributed. Without a will, California's intestacy laws will determine who inherits your estate, which might not align with your wishes.
Q: Does my will automatically change if I divorce?
A: No, your will does not automatically change after a divorce. It's important to update your will to reflect your new wishes post-divorce.
Q: What is the difference between a will and a living will?
A: A will comes into effect after your death and directs the distribution of your assets. A living will, however, outlines your medical treatment preferences if you become incapacitated.
Q: What is a trust?
A: A trust is a legal arrangement where assets are held by a trustee for the benefit of a beneficiary. Trusts can help you avoid probate, protect your assets, and ensure that your wishes are carried out.
Q: What is the purpose of a trust in California?
A: The purpose of a trust in California is to hold assets outside of probate, making the transfer of assets more efficient and private. A trust also allows for specific instructions on how assets should be managed or distributed.
Q: Can I have both a will and a trust in California?
A: Yes, many people use both. A living trust allows assets to pass without probate, while a will ensures any remaining assets are distributed according to your wishes.
Q: Are trusts only for wealthy people in California?
A: No, trusts are not just for the wealthy. They can be useful for anyone who wants to control how their assets are distributed, protect their assets, or ensure that a minor or incapacitated person manages their inheritance responsibly.
Q: What happens to jointly owned property when one spouse dies?
A: If property is jointly owned, it typically passes automatically to the surviving spouse, depending on the type of ownership (e.g., community property, joint tenancy).
Q: What is a guardian?
A: A guardian is someone who has legal responsibility for the care of another person, usually a child. Parents often appoint a guardian for their minor children in their will.
Q: How can I designate a guardian for my children?
A: You can designate a guardian for your children in your will. It's crucial to specify a guardian to ensure the court does not make this decision for you.
Q: How can I make sure my pet is cared for after I die?
A: You can designate a pet caregiver in your will and create a pet trust to ensure your pet is financially supported after your passing.
Q: How much will an estate planning attorney in California cost?
A: The cost of hiring an estate planning attorney depends on the complexity of your plan and the attorney's fee structure. Some attorneys charge a flat fee for estate planning services, while others charge by the hour. Be sure to discuss fees upfront.
Q: When do I need a power of attorney in California?
A: A power of attorney is essential if you are unable to make decisions for yourself due to incapacity. There are several types, including:
-
Durable Power of Attorney (for financial decisions)
-
Medical Power of Attorney (for healthcare decisions)
-
General Power of Attorney
-
Limited Power of Attorney
-
Springing Power of Attorney
Contact an Estate Planning Lawyer in California Today
At the Law Office of Catherine Chukwueke, we know you have lots of questions about estate planning. Our estate planning lawyer in California is here to answer your specific questions. Contact us either by using our online form or calling us directly at 310-213-7711 to schedule a consultation.
