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Murrieta Estate Planning attorneys

You can’t predict the future, so it’s important to plan today. You must decide what happens to your property after you pass, and you need an emergency plan should you become injured or otherwise incapacitated.

Estate planning is the process of making these decisions. When people hear the word “estate,” they often imagine huge mansions with acres of land. You can certainly use the word that way, but legally, “estate” has a different meaning. Technically, an estate is the totality of your property. Any person who owns anything has an estate.

Regardless of its size, your estate has value, and your loved ones can benefit from it. Our firm is here to help create a solid plan for your property and your health. With over 25 years of combined experience, our lawyers can help guide your plan and ensure that your wishes are carried out properly.

For estate planning services in Murrieta, trust the attorneys at Singleton Smith Law Offices, Inc.. Call us today at (951) 779-1610 for a free consultation.

Wills

Using a will, you can pass your property to a loved one after death. Your will can be as specific or as broad as you choose. You could simply hand your entire estate over to your spouse, or you could give a sentimental item to your best friend.

Wills must go through a process called probate, a court action. It can be a very expensive process, which is why it is so critical to consult with one of our attorneys to determine the proper estate plan for your needs while also keeping the plan cost effective. During probate, someone manages the estate. This person is called the executor. You should name this executor in your will. Otherwise, the court could appoint a stranger who isn’t invested in the outcome.

After probate, a will hands all your property over at once. Depending on the size of your estate and the needs of your beneficiaries, this may be the best option. Some families may require an immediate influx of cash or property to stay stable, and a will is useful in that situation.

Trusts

A trust is a living financial entity and can be imperative to keeping your estate plan cost effective. Essentially, it allows your estate to grow and prosper in your absence. A trust can continue to buy and sell property for your estate. It can make investments as well.

A trust allows you to control how and when your beneficiaries receive their property. You can, for instance, allow someone to have the car when they turn 16. You can also put your recipients on an allowance, helping them grow wealth on their own.

You can also appoint a trustee to increase and manage your estate. If someone squanders their allowance, the trustee can cut them off or put them on a plan. They could, for instance, demand that this recipient maintains a steady job to keep their allowance. If your estate is large enough, the trustee can work for it full time, or you can have a board of trustees that runs your estate like a company.

Essentially, the trust owns the estate’s property until it signs that property over to recipients. This allows everyone to avoid probate, keeps cost down and makes the transition much smoother.

Our team can help you establish a stable, functioning trust. We want to help protect your wealth and allow your estate to support your family long into the future.

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Power of Attorney

Estate planning is not just about planning for death. Sometimes, you must protect your assets while you are still here. If age or injury makes it difficult to care for yourself, you need someone to manage your finances.

Power of attorney gives someone power over your estate. This person can pay your bills, buy and sell property for you, file lawsuits on your behalf, and so on.

Your power of attorney plan will specifically outline the level of authority someone has over your money. You can keep them from your savings, real estate, or any other part of your overall wealth.

You can also change your power of attorney plan when needed. This can help protect you from someone taking advantage of you or free you from a relationship that isn’t working out.

Our team is here to help create a power of attorney plan that works for you. You should feel comfortable with the authority you relinquish, and you should trust the person who receives that authority. We can help you vet potential recipients of that power, and we can continue to oversee their actions for your security.

Advanced Healthcare Directives

Incapacitation is as much a health concern as it is a financial one. In this situation, you need someone who can manage your healthcare. An advanced healthcare directive can do this for you.

Advanced healthcare directives allow someone to oversee your medical treatment. They can confer with your doctors and work with them. This person can advocate for you, requesting different prescriptions or changing your doctors as needed. They can consent to surgery on your behalf and be there for you as you recover.

Like a power of attorney, healthcare powers should go only to someone you trust. In this case, you must trust them with your life. Luckily, you can alter your plan as needed, even if it is already in effect.

Our firm is there for you. Your healthcare is important, and we understand how sensitive this subject is for many people. We will approach your advanced healthcare directive plan with compassion and vigilance. Our goal is to make sure your wishes are carried out by someone you can trust.

Our lawyers can help Murrieta residents create a sound estate plan. Don’t delay. Start working on this plan with us now to protect yourself and your family. You can schedule time with us online or call us now at (951) 779-1610.

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