Why Do I Need to Plan My Estate?

Planning your estate requires much more than just figuring out your will. The purpose of an estate plan is to help you understand your financial needs and ensure your heirs are provided for in the best possible way. An estate plan not only makes the process of distributing assets and legacy wishes easier, but can also help you and your heirs pay significantly less in taxes, fees, and court costs.

No matter where you reside, it’s important to have access to estate planning documents like your will, power of attorney for your finances, and a medical directive. California law dictates who will take responsibility for your personal care and assets in the event you are deceased or incapacitated. This is why estate planning is so important; it ensures your directives are followed and legally protected after your death or incapacitation.

For those of us living in California, it’s a good idea to think about how to avoid probate after death. Probate is the process of authenticating a person’s last will and testament. This includes locating and determining the value of the deceased or incapacitated individual’s assets, paying their final bills and taxes, and distributing the rest of the estate to the rightful heirs or beneficiaries. In California, probate lawyers can charge a percentage of the gross value of assets that go through probate. These percentages are usually:

  • 4% of the first $100,000 of the gross value of the probate estate
  • 3% of the next $100,000
  • 2% of the next $800,000
  • 1% of the next $9 million
  • .5% of the next $15 million

Call (714)-908-4230 to learn more about our competitive probate rates!

Do I Need a Lawyer to Plan My Estate?

While you do not technically need an attorney to plan your estate, it is highly recommended that you get legal advice. Estate planning law can be complex, and the deadlines for filing can sometimes be confusing. At P. Arnsen Blakely, our probate & estate lawyer has been practicing since 1971 and has intimate knowledge of estate planning law and the procedures involved in administrating your estate.

Contact our Orange County estate planning attorney to find out how we can serve you!