Los Angeles Estate Planning Attorney
Law Office of Philip J. Hoskins Recommended Documents
estate planning attorney Philip J. Hoskins can provide the best assistance when creating or revising an estate plan.
If you need to create or revise an estate plan, trust or will, you should seek the assistance of a Los Angeles estate planning attorney at the Law Office of Philip J. Hoskins.
The documents I most frequently recommend for a complete estate plan are listed below (click a link for detailed explanations). What should be included in your Estate Plan will depend upon your particular circumstances.
Among the factors are:
- The nature and value of your estate assets
- Are you married? Domestic Partners? Unmarried relationship?
- Do you want your estate to go to people of your choice?
- If you have an estate plan, have your reviewed it lately?
- Do you have minor children?
- Do you need to provide for your health care in an emergency?
- Is there someone to take care of your financial affairs in the case of an emergency?
- Do you want to avoid costly court cases?
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Everyone should have a will. If you do not write your own, the state has already written one for you (they call it intestacy). In a Will, which can be entirely in your own handwriting or prepared for you by an attorney, you can provide for the disposition of your estate, nomination of a guardian and executor, payment of debts and taxes, exclude someone from your estate and a host of other issues can be covered. A Will can be changed at any time.
A Revocable Trust is a special kind of arrangement by which all or part of your property is transferred to a person called a trustee. Usually that person is yourself, but it could be another person or institution. The trustee controls all property transferred to the trust. The terms of the trust determine your respective rights and duties with respect to it. It is primarily a means of avoiding probate and can be a valid part of a financial and legal plan. A Revocable Trust can be for either an individual or for a couple in the form of a joint trust.
California's new Health Care Directive is very important for anyone who wants to specify the terms of their health care in the event they cannot give the instructions themselves. You can specify limits on health treatment and determine who can make decisions on your behalf when you are incapacitated. With this you can instruct your physician not to use life support under certain conditions.
The Durable Power of Attorney would allow someone to act on your behalf regarding your affairs if you are incapacitated. This can be very important for people who travel extensively or if you have not transferred assets to a trust.
• Documents to complete your trust
When utilizing a revocable trust, several other documents are needed to make it more effective.
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- The most important documents are those to fund the trust, such as an Assignment to the trust and a deed transferring your real property to the trust.
- I supply my clients with a Certification of Trust which enables you to satisfy those entities such as banks which ask to see a copy of your trust, without disclosing private information.