Don’t be like one gentleman who passed away at age 94. After the gentleman died, his brother found a note on the kitchen table at his brother’s home: “Make a will . . . not yet.”
An estate plan is a set of documents that allows you to plan for the future. Everyone should consider and plan for the time when age or illness will require that you have some amount of assistance with decision-making. You also need to plan for the time when you are no longer alive. What will happen to your property? Who will wrap up your final affairs? The standard set of documents to address these decisions includes the following.
- Advance Health Care Directive
- Power of Attorney for Financial Decisions
- Last Will and Testament
- Revocable Trust
- Additional Documents to Fund Your Revocable Trust
Put your estate planning affairs in order while there is time to make sound decisions.
Estate Planning for Incapacity
Aging is not for the weak at heart. As a society, we are living longer and longer. More than 2 million Americans are over 90 years of age, and the number will multiply dramatically in the coming years. Age brings many challenges, and rare is the person who does not need assistance over the years. Bonnie has helped hundreds of clients to consider the difficult issues of incapacity and create the documents that can address these issues.
An Advance Health Care Directive, for medical decisions, and a Power of Attorney for Financial Decisions have become essential documents in California to allow a trusted friend or family member to help you when you cannot make decisions on your own.
A Revocable Trust also allows another person to act on your behalf if you cannot act for yourself due to incapacity.
Estate Planning For When You Pass Away
Whether you use a Will or a Revocable Trust, eventually you need to think about your final wishes. This topic is easier for some people than for others. Whether you have children you want to benefit, you want to leave your estate to charity, or something in between, Bonnie can create the necessary documents so that your final intentions are carried out in accordance with your wishes. She can advise you on transfer of wealth to the next generation; who to name as Executor or Trustee of your estate; how to establish a revocable trust to avoid probate administration, and the many other issues that an estate plan covers.
An Estate Plan That Will Last
A well-crafted estate plan will work for your benefit and for the benefit of those you name to receive your estate in the future. Bonnie has prepared estate plans for hundreds of clients since becoming an attorney in 1988. She knows that her clients’ documents must stand the test of time over a span of many years and she endeavors to give her clients the best estate plan possible.