Why is estate planning important?

Whether you are a young parent or a retiree, and whether you are wealthy or not, estate planning is important if you want to:

• Control your own property while you're alive
• Take care of your loved ones if you become disabled or pass away
• Protect your loved ones as much as possible from the emotional stress and legal complications associated with incapacity and death
• Help save unnecessary taxes, court costs and professional fees
• Pass on your values, goals and desires to the next generation

What are estate planning benefits?

• Protect you during incapacity
• Avoid expensive probate
• Avoid unnecessary court costs
• Avoid or reduce taxes

Why a Living Trust?

A living trust is the best estate planning tool to meet your estate planning needs and avoid probate, conservatorships, and eliminate or reduce taxes.

Isn't a will enough?

·         A will has several limitations when compared to a living trust.  A will does not avoid probate, can be easily challenged, and is not effective during incapacity.

What is so bad about probate?

·         Probate takes time and effort close to a year to complete

·         Probate can be expensive.  Legal fees, executor fees and other costs must be paid before your assets can be fully distributed to your heirs.  Probate fees are based on the gross of your estate without any debt reductions.  If your home is worth $400,000 your probate fees will be near $20,000.

·         Your family has no control during the probate process.  Assets are usually frozen so an accurate inventory can be taken, and nothing can be distributed or sold without court approval.

·         Your family will have no privacy, it's a open public process.

What is a living trust?

·         A living trust is a legal way of holding title in your property that allows you to better manage your assets, avoid probate and save on estate taxes.  Upon your death or incapacity the living trust will operate automatically without the high costs associated with probate, time delays and any public disclosure.  Further you can better plan for estate taxes, avoiding unnecessary payment to the government.