Template Forms Can Cause Problems

Why do you need an estate plan? If you don't have an estate plan, a California court will determine your heirs in a complicated process. Equally problematic are estate planning forms that advertise they can be completed in 20 minutes. Be cautious about these claims. Saving costs by using a standard form without knowledgeable legal advice is a recipe for mistakes.

For example, a simple will might not be in your best interests. You might not know, but in California a will does not avoid probate and offers no protection if you become physically or mentally incapacitated.

The Law Office of Matthew C. Yu has created comprehensive estate plans for families and individuals throughout our community in the South Bay. Instead of cookie-cutter forms, our lawyers tailor each document to your needs. You also get the benefit of our legal experience handling estate administration and litigation.

The Benefits Of A Living (Revocable) Trust

A proven alternative to a will and a part of many basic estate plans is a living (revocable) trust. This option allows you to control what happens to your assets following incapacity or death.

Some of the other benefits of a living (revocable) trust include:

  • Avoiding the probate process completely
  • Maintaining your lifetime gift credit, which allows you to pass a certain amount of money to your children without tax consequences.

Consider that in joint tenancy, the surviving spouse usually receives 100 percent of the assets, yet then looses his/her spouse's lifetime credit. A properly created trust permits a couple to double the amount of assets that pass to their children without triggering the estate and inheritance tax.

We Can Help You Avoid Mistakes

To schedule a free initial 30-minute consultation, please call our Torrance office at 310-986-2364 or send us an email. Our attorneys will answer your questions and ensure loved ones are protected in case anything were to happen to you.