Pour-Over Wills Estate Planning: Part 6
Now that we’ve talked about trusts and what trusts do let’s talk about some of the other documents we typically draft we put together an estate plan. The first is what we call a pour-over will. Now we just talked about how wills are basically a letter of instructions to the probate court.
Powers of Attorney Estate Planning: Part 7
Another important component of a well-crafted estate plans what we call powers of attorney. A power of attorney is a document that makes it so that you can designate somebody else to step into your shoes and act on your behalf if you become incapacitated.
How A Trust Works Estate Planning: Part 5
In a trust, there are three players, there’s the settler, the trustee, and the beneficiary. The settler is the person who sets up the trust, typically the client. The trustee is the person who is entrusted with the management of the assets that are in the trust. The beneficiaries, as the name implies, are the people who are entitled to the benefits of the property that’s in the trust.
What Is A Trust? Estate Planning: Part 4
The easiest way to look at a trust is that a trust is like a box. You set it up, you put your stuff into it, and the box owns the stuff, but you on the box. It’s kind of one step removal of ownership. The reason that’s useful is when you’re gone, the trust continues to exist.
About Probate Estate Planning: Part 2
If you do nothing or having only a will, in order for your estate to go where it’s supposed to go, your estate has to go through what’s called probate. Probate is a court proceeding where the court steps into the shoes of the deceased person, gathers up that person’s stuff and then distributed either according to the intestacy laws of there’s no plan in place for according to the terms of the will.
Estate Planning & Wills Estate Planning: Part 1
Estate planning is one of the main areas of law we practice here Morris Law Group. David Morris is a certified specialists in trusts and estates. The main idea behind estate planning is really very simple, make sure that your stuff goes where you wanted to go as quickly and cheaply as possible after you’re gone.
About Morris Law Group About Morris Law Group
Morris Law Group is a small local law firm based in El Dorado Hills California with a satellite office in Sacramento. Our practice focuses on four main areas trusts and estates, business transactions and structuring, real estate transactions, and asset protection.