Palos Verdes Estate Planning Lawyer

Palos Verdes Estate Planning Attorney

No matter what stage of life you’re in, if you’re thinking about estate planning, it’s worth inquiring about. Many people think estate planning is something only senior citizens or extremely wealthy people do. However, if you have a spouse, children, a retirement account, own a home, or own any other valuable assets, you could benefit from discussing your options with a Palos Verdes estate planning lawyer.

Connecting With an Experienced Palos Verdes Estate Planning Attorney

When you hire an estate planning lawyer from Meinzer Law Firm, PC, you meet with an established Palos Verdes estate planning lawyer who has successfully handled estate planning cases for the past two decades. Our attorneys are committed to providing our clients with relevant options that ultimately become effective solutions that meet their unique needs. We provide a variety of estate planning services to help our clients achieve their planning goals.

Hire an Estate Planning Lawyer Local to Palos Verdes

When you hire an estate planning lawyer with a locally established practice, you benefit from their familiarity with local court proceedings. They are well-versed in California estate planning laws and understand the legal trends most relevant to members of the community.

Probate cases in Palos Verdes go through the Los Angeles County Superior Court. Specifically in Palos Verdes, cases are handled at the Stanley Mosk Courthouse located at 111 North Hill Street in Los Angeles. A local Palos Verdes estate planning attorney knows the probate judges and the policies of the local judicial circuits.

The Timeline of Probate

The average wait time for an estate to go through probate is anywhere from 9 to 18 months. Having a Palos Verdes estate planning lawyer to help facilitate the process can significantly speed it up. Having a private lawyer guide you through the steps and do the legwork on your behalf ensures the timely filing of the necessary documents and forms. It also avoids potential mistakes that can easily be made when individuals attempt to carry out these steps on their own.

One missed deadline or error can set the progress back. California requires a four-month wait period to allow debtors and potential contesters to come forward. State law prevents the distribution of estate assets until this requirement is fulfilled. Backlogs in the busy LA County courts can cause unavoidable delays, further increasing wait times.

Personal Representative

If an estate is particularly large, the personal representative overseeing the administration of the estate can take up to 18 months to sort out state and federal tax obligations. Larger estates are also prone to having disputes arise among the survivors of the grantor. If there is no will, probate can take even longer, as a representative must be appointed to ensure the estate’s affairs are carried out in compliance with California intestate estate planning laws.

A will can be a more affordable option, whereas a trust tends to be more complicated and therefore more costly to set up. A trust also must be maintained to some degree.

Having Both a Will and a Trust

In some circumstances, both a will and a trust are necessary. For instance, if someone has minor children and wants to name a guardian for them, this must be done through a will. If, at the same time, the estate owner wishes to make partial distributions of assets to their children over time, they may want to set up a trust.

Why Choose Us?

We know every client has unique circumstances. Therefore, we adjust our approach to each estate planning case we take to provide you with customized legal services. By 2030, there will be almost 10 million older adults in California. This will account for about 25% of California residents. We understand the needs of the population and look forward to helping Californians of all ages embrace estate planning.

FAQs

Are Estate Planners Worth It?

Yes, most individuals who seek the assistance of an estate planner are glad they did. Consequently, it is unlikely for anyone who employs the help of an estate planner to regret their choice. In fact, people who have obtained sound legal advice regarding estate planning enjoy a sense of relief when they get their affairs in order under the guidance of a reputable estate planning attorney.

How Much Does It Cost to Put Your House in a Trust in California?

The cost to put your house in a trust in California is different for everyone. The level of complexity required to set up a trust can greatly affect the cost. An attorney’s experience level and rates can make the process more expensive. Other costs typically associated with establishing a trust include preparing a new deed, recording fees, court fees, and miscellaneous costs that can add up.

At What Net Worth Should You Do Estate Planning?

There is no suggested net worth at which estate planning is recommended. Estate planning can benefit virtually anyone with assets. The primary purpose of estate planning efforts is not about how many assets you have but rather what you want to happen to your assets after you die. It can also be comforting to know your wishes will be carried out and not be a burden to your loved ones.

What Is the Biggest Mistake With Wills?

The biggest mistake people make with wills is thinking they don’t need one. Another mistake people make is failing to update their will after major life changes, such as divorce, remarriage, or having children. Also, failing to change an executor who later becomes unreliable, unfamiliar, unreachable, or has died is another mistake people often make with wills.

Work With an Experienced Palos Verdes Estate Planning Lawyer

At Meinzer Law Firm, PC, we are committed to providing our clients with exceptional legal services. Whether you are ready to begin estate planning or still have questions, we would like to meet with you to discuss your options. Contact our legal team to schedule an appointment. Our legal team can help you find the right solution.