1. Drafting Wills and Trusts
One of the primary functions of an estate lawyer is helping clients create a will and/or trust. These documents are foundational to any estate plan and serve different purposes:
Will: A will specifies how your assets will be distributed upon your death, names guardians for minor children, and appoints an executor to carry out your wishes.
Trust: A trust holds assets during your lifetime and can pass them on to beneficiaries without going through probate. California estate lawyers often recommend living trusts because they allow assets to bypass probate, providing faster distribution to heirs.
How a Lawyer Helps: A California estate lawyer ensures that these documents comply with state laws, reflect your wishes accurately, and are structured in a way that maximizes asset protection and minimizes tax obligations.
2. Creating Powers of Attorney and Advance Healthcare Directives
Estate planning isn’t just about what happens after you pass; it also involves planning for incapacity. A California estate lawyer can help you prepare:
Durable Power of Attorney: This document designates someone to manage your financial affairs if you become incapacitated.
Advance Healthcare Directive: Also known as a living will, this document allows you to outline your medical preferences and appoint a healthcare agent to make medical decisions on your behalf.
How a Lawyer Helps: Estate lawyers ensure that these documents meet California’s legal requirements, are clear and comprehensive, and designate trustworthy agents to act on your behalf.
3. Minimizing Estate and Inheritance Taxes
While California does not have an estate tax or inheritance tax, federal estate taxes may apply to large estates, and tax planning is essential for high-net-worth individuals. Estate lawyers can advise on strategies to minimize estate tax liability, including gifting strategies, charitable giving, and irrevocable trusts.
How a Lawyer Helps: An experienced California estate lawyer can help design tax-efficient plans that reduce the impact of federal estate taxes on large estates, allowing more of your wealth to pass to your heirs.
4. Setting Up Trusts for Special Needs and Minor Beneficiaries
For families with minor children or special needs dependents, trusts can provide long-term protection. A California estate lawyer can help set up:
Special Needs Trusts: Protects assets for a person with disabilities without affecting eligibility for government benefits.
Minor Trusts: Manages and distributes assets for minor beneficiaries until they reach a specified age.
How a Lawyer Helps: Estate lawyers design trusts that safeguard assets and provide financial support, all while protecting the beneficiary’s eligibility for essential benefits.
5. Navigating the Probate Process
Probate is the court-supervised process of settling a deceased person’s estate. In California, probate can be time-consuming and costly, so having an estate lawyer on your side is invaluable. If the deceased left a will, the lawyer can help the executor file the will with the court, handle creditor claims, distribute assets, and close the estate. If there is no will, the lawyer assists the administrator in following California’s intestate succession laws.
How a Lawyer Helps: A California estate lawyer simplifies the probate process, helping the executor or administrator fulfill their responsibilities efficiently, and ensuring compliance with court rules and deadlines.
6. Assisting with Trust Administration
In addition to probate, many California estate lawyers specialize in trust administration. Trusts don’t go through probate, but they still require administration after the trust creator’s death. Trustees have legal obligations to manage and distribute trust assets according to the trust’s terms, and a lawyer can provide guidance on fulfilling these duties.
How a Lawyer Helps: An estate lawyer assists trustees in understanding their responsibilities, managing assets, notifying beneficiaries, and handling taxes. This support helps trustees avoid legal pitfalls and ensures that the trust is administered correctly.
7. Asset Protection and Business Succession Planning
California estate lawyers also help individuals with high-value assets, business owners, or those concerned about creditors and lawsuits protect their wealth. By using tools like asset protection trusts, family limited partnerships, and other structures, estate lawyers can help shield assets from potential claims.
How a Lawyer Helps: For business owners, estate lawyers develop succession plans that outline how ownership and control will transition, ensuring the business’s continuity. They also create strategies to protect personal and business assets, giving clients peace of mind.
8. Updating and Reviewing Estate Plans
Life events such as marriage, divorce, the birth of a child, or significant changes in finances can impact your estate plan. A California estate lawyer can review and update your plan to reflect these changes and ensure it remains legally effective.
How a Lawyer Helps: Estate lawyers provide guidance on when updates are necessary and help make amendments to wills, trusts, or other documents so that your plan continues to meet your goals.
9. Guiding Beneficiaries and Executors in Contested Estates
Estate disputes can arise if family members disagree on the terms of the will, suspect undue influence, or feel the executor isn’t fulfilling their duties. In these cases, a California estate lawyer can represent beneficiaries or executors, providing legal guidance and working to resolve disputes through mediation or court action if needed.
How a Lawyer Helps: Estate lawyers help mediate family disputes, clarify legal issues, and, if necessary, represent clients in court to resolve contested estates fairly and efficiently.
How Much Does a California Estate Lawyer Cost?
The cost of hiring a California estate lawyer depends on the services needed and the complexity of the estate. For example:
Basic Will or Power of Attorney: Typically costs $200 to $1,000.
Revocable Living Trust: Ranges from $1,500 to $3,000 for a basic trust, with more complex trusts costing upwards of $5,000
Probate Representation: Costs depend on the estate’s value and follow California’s statutory fee schedule (e.g., 4% of the first $100,000, 3% of the next $100,000, and so on).
Most estate lawyers offer initial consultations, and some may work on a flat-fee basis for document preparation, while probate cases are usually handled on a statutory or percentage-based fee structure.
Why Hiring a California Estate Lawyer is Worth It
While DIY estate planning options are available, they often fall short of providing the comprehensive protection and flexibility that many individuals and families need. Hiring an experienced California estate lawyer offers several advantages:
Legal Expertise: Estate lawyers are well-versed in California’s estate laws and can craft plans that comply with state regulations.
Custom Solutions: A lawyer can tailor estate plans to meet your unique goals, family dynamics, and financial situation.
Protection Against Errors: Estate planning errors can be costly and may even render documents invalid. An estate lawyer ensures your documents are accurate and legally enforceable.
Peace of Mind: Knowing your estate plan is professionally handled gives you confidence that your wishes will be honored, and your loved ones will be cared for.
Final Thoughts
A California estate lawyer does much more than draft wills and trusts—they’re a vital partner in planning for your future and protecting your legacy. Whether you’re just starting your estate plan or looking to update an existing one, working with a knowledgeable estate lawyer can save time, reduce stress, and ensure your wishes are clearly documented and legally protected.
If you’re ready to create or update your estate plan, reach out to an experienced California estate lawyer who can guide you through every step of the process and help you make informed decisions for yourself and your family.
Contact the top-rated California trust and probate attorneys Moravec, Varga & Mooney today to schedule a telephonic consultation. Have questions, call (626) 460-1763 or email LV@MoravecsLaw.com.
Southern California Probate Lawyer Serving all counties in California, including Los Angeles, Riverside, San Bernardino, Sacramento, Santa Cruz & Beyond.