Estate Planning

Everyone can benefit from an estate plan, no matter their level of wealth. Even a high school graduate about to go off to college or people with minimal assets can benefit from a simple Will, power of attorney, and health care directive. A Will allows the person to clarify whom he wishes to receive his possessions if he were to die, and the power of attorney and health care directive allow him to select the people he trusts to manage his finances and medical decisions if he is unable to do so for any reason.

Anyone owning a home, anyone with assets valued over $150,000, and married couples should have a complete estate plan that includes a trust. Having a complete estate plan will allow your assets to pass without probate. While a probate is expensive, time consuming, and public, a trust administration is relatively inexpensive, requires far less time than a probate, and is completely private. Married couples should have a property agreement that clarifies what is community property and separate property in the marriage, and their estate plan should articulate what will happen to a deceased spouse’s property after death. If you have children, you can nominate your children’s guardian in your estate plan, and you can create optional sub-trusts for them if both parents were to die while a child is still young.

If you need assistance with estate planning, contact us at (925) 266-3449 or info@fidelitaslaw.com, or you may complete our contact form. Somebody will reach out to you within 24 hours.