Estate Planning

Everyone Needs - and Deserves - an Estate Plan!

Many people think that they do not need to bother with an estate plan because they do not have a large "estate."  This is not true!  Everyone, whether their estate is low in value or worth millions of dollars, needs to have a plan for the future, and that plan should be personally tailored for that person's circumstances.  

Whether your estate is large or small, and whether you create a trust or not, your should have a plan for your future and the future of your family.  You deserve it and you need it!

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What an Estate Plan Typically Includes

A complete estate plan usually includes the following:

- Trust (commonly used to avoid Probate)

- Will

- Advance Health Care Directive

(everyone needs this!)

- Power of Attorney (financial, for non-trust assets)

- Funding documents (for the trust)

- Nomination of Guardian (for minor children)

- Nomination of Conservator (in the event

of incapacity)

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Special Needs Planning

 

In addition to the above, if there is an heir or beneficiary with special needs who is or may be receiving needs-based government benefits, the estate plan might also include a Special Needs Trust (SNT) to enhance the quality of life for the special needs person without compromising or reducing his or her government benefits.  Even if the person does not receive needs-based benefits, a trust might be desired to help manage the beneficiary's affairs.  If this situation applies to your family, please contact me to get additional information.

 

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Conservatorships

 

Although oftentimes a trust will eliminate the need for a conservatorship because a trustee can manage the financial affairs of the beneficiary, in some situations a conservatorship is needed to make decisions on behalf of the beneficiary, such as caregiving decisions.  For persons with a developmental disability, courts often grant a limited conservatorship so that certain decisions can be made for the person.  For persons with dementia or other mental incapacities, a conservatorship may also be needed to help with decisionmaking and management of finances.  If you need further information on conservatorships, please contact me.

 

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If I can be of service to you, please contact me at (530) 809-0675.

1550 Humboldt Road, Suite 4

Chico, CA 95928

530-809-0675

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