Estate Planning

One of the most important decisions we make is how to take care of our loved ones once we are gone.  Few of us like to think about our end but it is important to have your affairs in order to ensure that your loved ones are cared for and your assets are distributed or maintained in the way you intend.

There are two main vehicles for protecting your assets and providing for your loved ones your death: Wills & Trusts.  A trust enables you to create a separate legal entity to protect your assets from probate, taxes and public scrutiny.  Trust may be established while you are living or upon your death as set forth in your Will.  The type of Trust you establish will determine how much control you have over the property that you place within it.  The Lam Law Corporation, APC can explain the various types of trusts available to you and help you choose the best way to protect your property.

A Will is a legal document that allows you to name a guardian for your children and specify who will inherit your property after you die.  Without a Will, you will have no say in what happens to your property. 

Even if you have a Will, it is important to understand that your estate will still go through probate.  Probate is the legal process an estate passes through to make sure property is distributed in accordance with a Will or according to the laws of the state of California if you have no will (called “Intestacy”).  The probate process takes about a year to complete as the validity of the Will must be established, all heirs and creditors have to be provided notice of the decedent’s passing and any dispute over the Will must be resolved in Probate Court.

If you need help establishing a trust or creating a will that will not be deemed invalid or delay the disbursement of your property, contact a qualified attorney at the Lam Law Corporation, APC.  From simple wills, pour-over will, living wills, testamentary trust will and other estate planning tools, the Lam Law Corporation, APC can help you make a decisions that will benefit your loved ones the most.