Estate Planning Questions Frequently Asked of Our Riverside County Attorneys
Wills & Trusts Lawyers in Palm Springs, CA
The following are answers to some frequently asked questions about estate planning in California. For more information, use the link below to contact the Riverside County attorneys at Schlecht, Shevlin & Shoenberger, A Law Corporation.
Estate Planning FAQs
If I have a revocable living trust, do I also need a will?
It is generally advisable to include a will in your estate plan, regardless of whether you are also making use of trusts. Wills cover certain issues not suitable to trusts, and having a will in place will ensure that none of your assets are subject to distribution under California’s statutes governing intestate succession. Thus, even when you use other documents to plan the majority of your estate, a “pour over” will is still important because it serves as a catch-all for any overlooked or newly-acquired assets.
What options do I have for charitable giving and reducing estate and gift tax obligations?
At Schlecht, Shevlin & Shoenberger, A Law Corporation, our Riverside County attorneys are deeply experienced in using a wide variety of advanced trusts to help our clients meet their estate planning needs. We regularly assist clients in establishing charitable trusts for donative purposes, and we place particular emphasis on minimizing estate and gift tax obligations during the estate planning process. Depending on your personal financial and family circumstances, we may recommend use of gift trusts, IRA trusts, qualified personal residence trusts (QPRTs), and other estate planning tools to minimize the tax burden on your estate.
What other documents should I consider for my estate plan?
Beyond financial planning through wills, trusts, community property agreements, and beneficiary designations in insurance and retirement accounts, it is important to also consider your family members’ and your own personal comfort and medical care. By preparing advance healthcare directives and durable powers of attorney, you can ensure that your loved ones are able to execute your wishes for end-of-life care should you be unable to do so. Through establishing guardianships and conservatorships, you can ensure that your minor children and disabled and elderly relatives will receive the care they deserve in your absence. Our lawyers have spent decades dealing with the intricacies of California estate planning law, and we can help you take all of the steps necessary to provide for your family’s future.