Lawndale Estate Planning Lawyer

Experienced Lawndale Estate Planning Attorney

It can be overwhelming or even frightening to make a plan for your estate after you pass away. However, creating an estate plan is an important step in making sure your assets are protected, your loved ones benefit from your estate, and your wishes are communicated. A Lawndale estate planning lawyer can help you create a customized, comprehensive estate plan tailored to your priorities and goals.

Why Choose Meinzer Law Firm, PC?

With over 25 years of experience creating personalized estate plans, Attorney Andrew M. Meinzer is a trusted Lawndale estate planning attorney. He also assists families going through probate, meaning he understands how to create estate plans that minimize the future burden on family members. When working with Meinzer Law Firm, PC, our team works to understand your specific goals and build an estate plan that reflects your wishes.

Why Having an Estate Plan Is Important

Unfortunately, estate planning is not as common as it should be. Only 24% of Americans have a will, while only 18% of adults 55 and older have a healthcare directive and durable power of attorney.

Not having an estate plan can lead to problems if you become incapacitated, as there is no plan for how your financial affairs are going to be managed. It can also be more difficult to receive healthcare that aligns with your preferences and wishes, as you have not created a plan or designated another person who has the authority to make these decisions on your behalf.

Furthermore, lacking an estate plan can mean your property is distributed according to intestate succession laws, which use generic formulas to pass on assets to close relatives. These laws do not take into account your personal relationships or what assets you want to go to which beneficiaries.

Intestate succession happens through probate, which can be a financial and emotional burden on loved ones. In California, there were 63,609 probate cases filed in 2024. In Lawndale, probate occurs at the Stanley Mosk Courthouse at 111 N. Hill Street, Los Angeles, and is known for being a slow, expensive, and stressful process. Having an estate plan can provide clear instructions for your estate, so your family does not have to rely on probate.

Types of Estate Planning Documents Used by California Families

A comprehensive estate planning case often involves multiple different types of documents, each designed for a specific purpose, such as making a plan for incapacitation, passing on assets, or planning care for minor children. If you hire an estate planning lawyer, they can describe what type of documents you can benefit from. Some of the most common estate planning tools include:

• Wills: Under California’s estate planning laws, wills are one of the most foundational estate planning documents and can incorporate a broad range of legal matters. In a will, you can name an executor of your estate, express your wishes for how property is distributed, name beneficiaries, and designate guardians for minor children.
• Revocable living trusts: Trusts allow you to name a trustee responsible for managing and distributing your assets. A revocable living trust is one of the most common types of trusts, as it provides benefits such as avoiding probate, maintaining privacy, maintaining control over the assets during your lifetime, and the flexibility to change or revoke the trust.
• Irrevocable trusts: Similar to revocable trusts, an irrevocable trust involves retitling assets into a trust, which a named trustee manages. However, an irrevocable trust cannot easily be changed. Irrevocable trusts do offer greater protection to your assets, making them a good option if you are looking to protect your assets from creditors or remain eligible for Medicaid.
• Durable power of attorney: A durable power of attorney allows you to appoint an individual who can take on responsibility for your financial affairs if you become incapacitated. This individual may manage property, pay bills, make investment decisions, file taxes, and perform any other authorized actions to avoid you facing financial penalties if you become incapacitated.
• Advance healthcare directives: This document allows you to express your medical treatment preferences if you become incapacitated and are no longer able to communicate with healthcare providers. These directives may communicate your wishes, such as whether or not to use life-sustaining treatments or CPR, and designate an individual to make decisions on your behalf.

FAQs

What Kind of Lawyer Is Ideal for Estate Planning?

You should hire an estate planning lawyer if you are looking to create an estate plan. This type of lawyer has experience helping clients analyze their estate and can explain the various legal options that apply to your case. They are also familiar with the process of drafting and signing these documents, which can make sure that your documents are legally valid under California’s estate planning laws.

Which Family Member Should Be the Executor?

There is no automatic answer when it comes to who should be the executor of your estate. If you want a family member to be the executor, you should take into account their levels of financial organization, trustworthiness, and willingness to take on this responsibility. A Lawndale estate planning attorney can help you make this decision and can also speak with your family member to make sure they understand the role of an executor before you make a choice.

What Is the Five-by-Five Rule in Estate Planning?

The five-by-five rule in an estate planning case is a guideline used when determining how much a beneficiary can withdraw from the trust without tax penalties. While it is not a strict legal rule, this guideline recommends that beneficiaries withdraw only $5,000 or 5% of the trust’s value per year, whichever is greater.

Can You Change Your Estate Plan?

Yes, you can change your estate plan. It is recommended to review your plan every three to five years to see whether your circumstances or wishes have changed. Often, people modify their documents after divorce, marriage, buying or selling real estate, or the birth of children or grandchildren. Some documents are easier to modify than others, but it is always worth speaking with a lawyer to understand how to modify your plan.

Hire an Estate Planning Lawyer Who Cares About Your Goals

Estate planning should be an individual journey, resulting in a customized estate plan. Contact Meinzer Law Firm, PC, to speak with a Lawndale estate planning lawyer committed to creating a plan that reflects your intentions.