Wills and Trusts
A Will sometimes called a “last will and testament,” is a legal document that determines who will receive your property upon your death and nominate guardians of any minor children that you have. It is read by a county court and the court makes sure that your final wishes are carried out.
In California, it is important to note that Wills may be subject to probate and the costly fees that are associated with probate. In 2020, California increased the small estate exclusion from $150,000 to $ 166,250. This means that if your gross assets are over $166,250 your estate will have to go through probate unless you also have a Living Trust in place.
My office prepares stand-alone Wills, Will packages which include a Will, Power of Attorney and Advance Healthcare Directive and we prepare Pour-Over Wills which work hand in hand with a Living Trust.
A Living Trust on the other hand has many advantages over a Will. A Living Trust is at the core of your estate plan and it is much more powerful than a Will. One of the biggest advantages is a Trust avoids probate proceedings and it provides for privacy since it does not have to be filed with the court.
A Living Trust takes effect as soon as it is created. It states the arrangements and terms for taking care of your assets and wishes during your lifetime, at your death and in the future.
There are many different types of Trusts that can be drafted to meet each unique situation. A Trust can be Revocable or Irrevocable. They can be drafted to help minimize tax burdens, manage property during temporary or permanent incapacity, manage property for minor children, appoint guardians for minors, protect beneficiaries who have disabilities or special needs and even provide for your pets and animals.
During our free consultation we can discuss your unique situation and come up with a plan that is best suited for you and your family.
Codicils and Amendments
Often times circumstances change which will require a Codicil to your Will or an Amendment to your Living Trust. It is important to know that almost all Estate Planning documents can be amended and are easily able to be changed over one’s lifetime as circumstances change.
The Law Office of Kim White is here to guide you with choosing an appropriate Estate Plan. Having a plan in place for tomorrow and the unknown can give you peace of mind.
Call today for a free 1-hour consultation to discuss all of the Will and Trust options available.
“Kim White is the ultimate professional. She is extremely knowledgeable and dedicated to providing superior service, information and in depth details on your legal needs. I highly recommend her and know her history of honesty and integrity.”
Broker/Owner Network Real Estate
Grass Valley / Nevada City, CA.