Riverside Estate Planning/Probate

Wills
Living Trusts
Conservatorships
Living Wills
Durable Powers of Attorney

Estate planning and probate law are areas of the law that can help you plan how your assets will be distributed, who will care for your children, and any other items that need to be planned before your death.  Estate planning is important because it allows you to make your own decisions and be confident that they will be carried out after you pass away.  There are many different components to estate planning and probate including wills, trusts, living wills, powers of attorney, and inheritance tax planning.  If you need help planning your estate, it is best that you contact a qualified estate planning attorney who will be able to guide you in your decision-making so you can minimize any tax obligations and ensure that your wishes are carried out. 

Wills

If you do only a little bit of estate planning, it should be by having a will drafted.  Your will allows you to designate how you want your property to be distributed after your death.  It also allows you to name a legal guardian for any minor children so you know that your children will be taken care of by someone you know and trust.  If you do not make a will, the state will determine how your property is distributed and it may not be in a way that you would like.  Because unexpected events such as auto accidents and sudden illnesses can occur, it is important that you don’t delay having your will drafted.  Even if you are young and may not need the will for many years, it is good to have one in place in the event of a sudden illness or injury.  Having a will already prepared is also important if you are ever on any medication that may reduce your capacity to make legal decisions.  Having a will in place is a good way to avoid the complications often brought on by having diminished capacity or being too ill to have your ill prepared when you are older.

Living Trusts

Living trusts are set up differently than wills, but they also determine how your finances will be managed if you die or become unable to manage your own affairs.  This can sometimes happen when someone becomes too ill to manage their own finances or when medication and medical treatments reduce the mental capacity of an individual.  Rather than having someone else decide how your affairs will be handled, a living trust allows you to set up your own plans for how everything will be managed.  This is more complicated than setting up a will, but there can also be benefits.  A living trust does not have to go through probate, which will help to avoid the long probate process.  This type of estate planning tool also helps you avoid estate taxes that can reduce the amount of money distributed to your heirs.  With a living trust, all of your debts are paid immediately following your death and all of your assets will be distributed as outlined in your living trust.

Conservatorships

Conservatorships are different than wills and living trusts because they provide for the care of people who are alive but unable to care for themselves.  A conservatorship means that someone has petitioned the court to care for the affairs of the incapacitated person.  If the court determines that the individual should have someone appointed to manage their affairs, someone is appointed to do so.  The appointed person will manage the financial affairs of the individual and will keep a record of all of the assets and other finances that are managed.  The conservatorship ends when the incapacitated individual passes away or regains the ability to manage his or her own affairs. 

Living Wills

Living wills are important documents that outline what kind of medical care you want to receive if you are ever unable to make your own care decisions due to serious injury or illness.  Some of the information contained in a living will may be whether or not you want to be kept on a respirator or a feeding tube.  Having a living will in place is very helpful in the case of very serious injuries and illnesses that render you unable to manage your own medical care because it will help you be sure that your own wishes are carried out.  If you do not have a living will in place and you become unable to make decisions about your medical care, someone else may make those decisions and they may not match what you would have wanted for yourself.  A living will puts your wishes in writing so there is no question of what you want to be done if you are in a critical medical situation.

Durable Powers of Attorney

Similar to a living will, a durable power of attorney has to do with the medical care you receive when you are unable to make your own treatment decisions.  Instead of specifying what your wishes are in a legal document, you designate someone to make decisions for you in the event that you are unable to make decisions about your own care.  This person should be someone you trust so you know that he or she will make decisions with your best interests in mind.  The best way to find out if a durable power of attorney is right for you is to speak to an estate planning attorney.  He or she can tell you about the options available for planning for your medical care.