Why You Need An Estate Planning Attorney
Estate Planning Attorney Provides Vital Protection For Your Family and Your Assets
Regardless of the size of your home or estate, Louis Pacella, an experienced estate planning attorney, can offer professional advice and guidance in protecting your valuable assets.
Your estate includes your various personal properties such as, retirement plans, bank accounts, investments, personal property and your home. Before your death, it is important to have completed documents in place, according to your prescribed directions, that designate the beneficiaries who will receive your retirement benefits and/or life insurance proceeds. At the time of your passing, either a will or a living trust will prescribe where the remaining assets will be distributed. You need a legal professional who can draft the proper documents according to legal guidelines to comprehensively protect you.
Get Ahead of Your Estate Planning
Should you die intestate (without a living trust or a will), California state law will govern the distribution of your aforementioned ownerships, and this may not be to your liking. California laws rank the inheritors by a relationship hierarchy. Generally, assets will distribute first to the decedent’s spouse, then their children, siblings, parents, etc., possibly falling into probate which can be costly and greatly reduce the inheritance for your heirs.
Proper estate planning will help you to avoid this expensive circumstance. Consult with Louis and receive the trusted advise of a trained California professional. This is vital to your estate benefit.
What You Need To Know About Estate Planning
Louis Pacella, Attorney at Law, has been in practice and as an estate planning professional for over a decade. His professional experience can preserve the benefits of your estate and guarantee that the assets you worked so hard to create are distributed, as you intended.
Typically, estate planning includes the following elements:
- A will
- A trust, of which there are various types depending on your needs
- The assignment of a power of attorney for financial purposes
- An advance health care directive listing those who will make medical and post-life decisions on your behalf in the event of a death or incapacity
- Transfer of asset directives including grant deeds and/or LLC formation for protection of real estate.
Estate Planning Attorney Will Help You
Assessing your ownership of assets will affect your business interests, property, insurance, retirement, etc. This action is the first step you should take with a professional, such as Louis. He will advise you in determining the answers to three vital questions:
1) Who will inherit your assets?
2) If you become incapacitated; whom do you trust and feel comfortable handling your financial affairs?
3) Should you be unable to make any medical decisions, who will make them for you and have your best interests in mind?
Why You May Need A Will & Assigning A Power of Attorney
Items you might not consider include the federal estate tax exemption, how much you should leave to a spouse tax-free, and how to give tax-free gifts to reduce your estate tax. Improper or incomplete estate planning may result in large amounts of proceeds being absorbed by the state due to the process of a tedious probate proceeding as well as by the potential of an incompetent court-assigned estate administrator.
Louis is an experienced estate planning attorney who will administer your estate planning according to the guidelines of the law and with your best goodwill in mind. He is the third party professional who can draft all necessary documents, i.e., a will and assigning a power of attorney, to govern your estate as you intend.
Call Louis Pacella, Attorney at Law today for your free initial consultation. Reach him easily at, 818-616-8827 or e-mail him, today.