Trusts & Estate Planning
We are dedicated to providing you with quality, experienced, and compassionate representation in all your estate law matters.
Estate planning is the process of anticipating and arranging for the distribution of an estate after a person dies as well as taking care of the person and the person’s assets while they are unable to do so due to incapacity. Estate planning attempts to eliminate uncertainties over the administration of an estate, avoid the delays and costs of probate administration, and helps to maximize the value of the estate by reducing taxes and other expenses. Guardians can be designated for minor children and custodians can be designated for pets.
Estate planning typically involves creating powers of attorney, specifically the durable financial power of attorney and the advance health care directive, wills, and trusts. Through these documents you can designate beneficiaries, utilize powers of appointment, and give gifts. Estate planning also involves confirming ownership status, such as real property title, and funding your trust with appropriate property.
Our practice includes not only estate planning, but trust and probate administration as well as other probate matters, including conservatorship and guardianship. We serve clients in California and out-of-state with trusts and probate matters occurring in San Diego County. We provide tailored estate plans and use caring and compassionate advocacy to handle each of your unique legal needs. A properly executed California estate plan provides you with the tools to ensure your family is secure and ensures you the peace of mind that your family will not be burdened with an unnecessary probate of your estate.
Estate Planning Areas of Representation
Making The Best Decisions Possible For Your Family.
Making The Best Decisions Possible For Your Family.
Powers of Attorney
The Powers of Attorney (for Financials and Health Care) allows your designated agent, or “attorney-in-fact”, to manage non-trust assets if you, the “principal,” would become unable to do so due to incapacity while still alive. The Powers of Attorney are for contingency planning and terminate automatically when the principal dies. Besides taking care of the principal’s non-trust assets, the attorney-in-fact can have other powers such as to transfer assets to the principal’s trust, make gifts to reduce tax consequences, pay for medical expenses, and provide continued support to dependents.
Wills & “Pour-over Wills”
The Will is a traditional legal document designed to name individuals (or charitable organizations) to receive distributions of your assets after your death. When paired with a trust, a “Pour-over Will” is typically used to “pour over” the estate into a Revocable Living Trust for distribution. Though a Revocable Trust can replace the Will in some ways, the Will is still necessary to handle any assets left outside of the Trust and may also contain provisions nominating an executor of the estate and a guardian for any minor children. A Will, by itself, does not help avoid probate.
Revocable Living trusts
A Revocable Living Trust is designed for use by a settlor or settlors (the creators of the trust) who want to create a trust during their lifetime that is self-managed unless they become incapacitated. The Revocable Living Trust serves as a will substitute by allowing the settlors to transfer real property and other assets that would otherwise be subject to Probate. With a Revocable Living Trust, the settlors have the right to as much of the income and principal of the trust as requested during their lifetime. After the death of the settlors the trust assets may be held for the benefit of their beneficiaries or distributed immediately. Once all trust assets are distributed, the trust terminates.
Trust Administration
Trust administration is the process of utilizing the prepared estate plan, especially the trust, to carry out the wishes of the settlors (creators of the trust) when they have become incapacitated or pass way. Many lawyers fail to discuss trust administration with their clients when creating their estate plan, and many individuals with a trust mistakenly believe that avoiding probate means that everything will simply and automatically transfer according to their wishes. Having a good understanding of the trust administration procedure and having the future trustee who will be responsible for administering the trust well informed will prevent unrealistic expectations that many clients have when it comes to administering an estate.
Trust Funding
Although the trust document provides you with an orderly disposition of your estate, you will not avoid probate unless the trust obtains legal title to your property before your death. This procedure is called “funding” the trust and requires transferring title to you as the Trustee. To make the asset subject to the terms of the trust, you must transfer title to yourself as Trustees. Various assets will require different methods of “funding” your trust. Properly funding your trust is an extremely important part of the estate planning process which your attorney should assist you with in order to ensure its completion.
Beneficiary Designations
Beneficiary Designations are another essential piece of your estate plan. When it comes to designating beneficiaries, it is important to know who you designate and why. Your trust can be designated as a primary or contingent beneficiary for certain policies and plans so that your trustee can distribute your assets according to the terms of the trust. As part of preparing an estate plan with Naimish & Lewis, we will review all of your beneficiary designations, both inside and outside of your trust, making sure that you understand who to designate and why in order to ensure that your estate plan accurately reflects your wishes.
Every Estate Plan is Unique
Contact Naimish & Lewis Today for Guidance from an Experienced
Trust and Estate Planning Attorney.
There are countless variable methods to planning your estate. Every estate plan is different, whether you have a blended family, your own business, investment properties, or unique property, and requires a unique approach. It is recommended that you review your estate plan every couple of years and after any major life events such as marriage, divorce, birth, death, and large purchases such as a new home. We assist clients on a regular basis reviewing and revising their estate plan and providing guidance when it comes to the best way to make sure each new asset fits into their plan.
You may be in need of a little advice right now. We’d like to meet you. If you are struggling with a serious family law issue or you’re planning for the future, Naimish & Lewis can help. Connect with us now for guidance from one of our experienced attorneys. Contact Naimish & Lewis, APC today.
Your Trust and Estate Planning Team:
Mary J. Naimish, CFLS, and Sam Tari, Esq.
Take the First Steps
Contact Naimish & Lewis, APC Today.
Please consider meeting with one of our experienced family law attorneys or trusts and estates lawyers to learn how we can help you today. Please call (619) 523-9900 to request a consultation, or email us using the form.
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