Estate planning involves creating a solid, forward-looking strategy that protects your assets and provides peace of mind for you and your loved ones. At its core, estate planning typically revolves around two primary goals: first, ensuring the proper distribution of your assets after death, and second, preparing for the possibility of incapacity and the management of your affairs during your lifetime.

Wills and trusts are essential legal instruments to accomplish these goals. A will outlines how your assets should be distributed after your passing, while a trust provides more flexibility, allowing for the management and transfer of your assets both during your lifetime and after your death, without the need for probate. At NewPoint Law Group, LLP, our skilled will and trust attorneys in Roseville and Sacramento, CA, guide you through every step of the estate planning process, helping you tailor a plan that meets your unique needs and protects your legacy.

Whether you want to safeguard your family's future, minimize tax burdens, or ensure your healthcare and financial decisions are handled according to your wishes if you become incapacitated, our estate planning team is here to provide expert guidance. We offer customized solutions for wills and trusts to help you achieve your estate planning goals efficiently and effectively.

Contact the trusted wills and trust attorneys at NewPoint Law Group, LLP, in Roseville and Sacramento today by calling (800) 358-0305 to schedule a consultation. Let us help you secure your future and protect what matters most.

The Pros and Cons of Using a Will for Estate Planning in California

A will remains one of the most traditional and straightforward tools for distributing assets after death. With a properly drafted will, you can designate beneficiaries, nominate executors to manage your estate, appoint guardians for minor children, and provide detailed instructions for burial or memorial services.

For many individuals, a will can serve as an effective estate planning tool. However, whether a will is the best option depends largely on the nature of your assets and real property. While a will may be appropriate for transferring certain assets, other estate planning tools can be more efficient for others. For example, real estate can often be better transferred outside of a will through community property agreements or joint tenancy deeds, both of which avoid probate. Similarly, investments, bank accounts, and assets with "pay on death" or beneficiary designations are typically more efficiently transferred without using a will.

One of the primary disadvantages of relying solely on a will is that it subjects your estate to the probate process, a time-consuming and costly legal procedure overseen by the court. Probate can delay the distribution of assets, increase expenses, and limit your ability to minimize taxes. Additionally, while a will allows you to name a guardian for minor children, it restricts how you can provide detailed financial instructions for their care, which could be better managed through a trust.

Probate for Wills in Roseville and Sacramento, CA

Probate is a legal process originally designed to ensure that creditors are paid before an estate is distributed to heirs. In California, probate is required for estates with real property valued over $50,000 or non-real estate assets, such as bank accounts or investments, worth more than $150,000. If a substantial portion of your assets are transferred through pay-on-death accounts or beneficiary designations, probate can often be avoided.

One of the most effective strategies to bypass probate is to use a living trust. Assets placed in a living trust are not included in the probate estate, which means that they can be transferred to your beneficiaries without going through the court-supervised process. By incorporating a trust into your estate plan, you can not only reduce probate expenses but also potentially save money on estate taxes.

Probate proceedings can be time-consuming, often lasting anywhere from nine months to over two years, depending on the complexity of the estate and any disputes that arise. The court process can also be costly, reducing the overall value of your estate that passes to your heirs.

Testamentary Trusts in Roseville and Sacramento

A testamentary trust is a valuable estate planning tool designed to manage and protect assets for the benefit of your heirs after your passing. Unlike a living trust, which takes effect during your lifetime, a testamentary trust is established through your will and becomes active only after you are gone. For instance, you might create a trust to cover your children’s education until they reach a certain age or to ensure long-term care for a child with disabilities

Three parties are usually involved in the creation of a testamentary trust:

• The grantor, who creates the trust through provisions of their will

• The trustee, who is appointed through the will to manage the trustee

• The beneficiaries, who receive payments or property from the trust

To set up a testamentary trust, the grantor designates the trust as the heir to certain assets in their will. Once the grantor passes away, the will must go through probate to verify its authenticity. After the probate process is complete, the executor transfers the specified assets into the trust. From there, the trustee manages the assets according to the trust’s instructions, often based on the age or needs of the beneficiaries.

For example, a trust might be established to fund a child’s education through college, with provisions for the trust to expire once the child graduates. During the trust’s active period, the probate court oversees the trustee’s actions to ensure proper management of the trust’s assets.

One of the advantages of a testamentary trust is the grantor’s ability to maintain control over how their assets are used, offering specific financial guidance and protection for minor children or dependents with special needs. Additionally, because the trust does not go into effect until after the grantor’s death, the terms can be revised during their lifetime.

At NewPoint Law Group, LLP, our experienced will and trust attorneys in Roseville and Sacramento can help you draft a testamentary trust that aligns with your financial objectives and estate planning goals. We ensure that your assets are protected and managed according to your wishes, providing security for your heirs.

Living Trusts in Roseville and Sacramento

A living trust is a powerful estate planning tool that allows you to seamlessly transfer your money and property to your loved ones after your passing, all while maintaining control of your assets during your lifetime. As a revocable document, a living trust can be amended or completely revoked at any time, providing flexibility as your circumstances change. For married couples, part of the trust may become irrevocable upon the death of one spouse, ensuring the long-term protection of certain assets.

Within the living trust, specific roles are clearly defined. The trust will designate one or more trustees responsible for managing the assets held in the trust, and it will also detail all property included in the trust, along with clear instructions for how these assets should be managed. Importantly, the trust includes distribution directives to ensure that your beneficiaries receive the property in accordance with your wishes after your passing.

One of the primary benefits of a living trust is its ability to bypass the cumbersome and costly probate process, which is typically required for a will or testamentary trust. Assets placed in a living trust can be transferred directly to your beneficiaries without court supervision, saving time and money. Additionally, living trusts are designed to minimize estate taxes, making them particularly valuable for individuals with significant assets.

In the event that the settlor becomes incapacitated, a living trust also includes provisions for a successor trustee to manage the trust’s assets and funds, ensuring continuity and reducing the likelihood that a court will need to intervene or appoint someone to take control.

For parents, a living trust offers flexibility in determining how and when their children will receive income or benefits from the trust, whether on a weekly, monthly, or other structured basis, providing long-term financial stability and protection for minor or adult children.

Call Our Roseville and Sacramento Wills and Trusts Attorney Today

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tate planning is essential in ensuring that you have provided for your loved ones after your death. Our experienced Roseville and Sacramento will and trust attorneys will guide you through the complexities of the probate process and help you plan wills and trusts that accomplish your estate planning goals. Call the NewPoint Law Group, LLP, today at 800-358-0305 for a consultation to help you attain peace of mind that your affairs are in order.