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People often believe that an estate plan is something that they will have time to take care of or that they don’t need. In most cases, their wrong about both things. An estate plan is something you should take care of as early in your adult life as possible and something you should continue to update as you grow older. Also, estate plans are something that every adult needs. Unfortunately, many people don’t realize how important estate plans are until it’s too late.
At Ghanooni Law Firm, we have been helping clients in West Los Angeles and throughout Southern California for over a decade. Whether you need assistance getting your finances back on track or securing your finances in the present and future, we can help. Our experienced estate planning attorneys have a history of going the extra mile for clients.
Our clients’ satisfaction is always our top priority. We understand the importance of estate plans and will collaborate with you to tailor your estate planning documents to meet your needs, take advantage of every possible benefit available to you, and stand the test of time.
Need help with estate planning services? Call us at (213) 429-7749 or reach out to us online today for a free consultation with our experienced estate planning lawyers.
What Is an Estate Plan?
An estate plan is a way for a person to make sure that their assets are distributed according to their wishes upon their death. Assets that are generally included as part of an estate plan are cash/bank accounts, homes/real estate, vehicles, investments, and personal property (clothing, jewelry, et cetera). In addition to the distribution of assets, estate plans can also help people designate what happens regarding control of their health decisions, living situations, and assets if they were to become incapacitated or were for some other reason unable to make those decisions for themselves. Estate planning encompasses several services, including wills, trusts, powers of attorney, and health care directives.
Estate Planning Services in West Los Angeles
Ghanooni Law Firm provides a wide range of estate planning services. A few of the most common estate planning services that people need help with include the following:
- Wills – A will provides instructions about how to handle a person’s final responsibilities after their death. An executor is named, and that executor is supposed to manage the person’s financial concerns and assets upon their death, including distributing the person’s assets, making sure the person is properly buried or cremated, and dealing with any of the person’s outstanding debts as instructed.
- Trusts – Trusts are a way to place control of a person’s assets in the hands of a trustee. In some cases, people are the trustees of their own trusts, and in other instances, they name another individual as the trustee of their trust. Two of the most common trusts are the revocable trust and the irrevocable trust.
- Revocable Trusts - Revocable trusts allow a person to transfer ownership of their assets to their trust. They can remain in control of their assets as the trustee of their revocable trust. Upon their death, all their assets will be distributed to their beneficiaries without having to go through the probate process.
- Irrevocable Trusts - Irrevocable trusts allow people to transfer ownership of their assets to the irrevocable trust and give their assets away while they’re alive instead of after their death. Items that are in an irrevocable trust aren’t subject to estate tax because they no longer are part of the person’s estate. In addition, since the person no longer owns the assets in the irrevocable trust, there are certain asset protection benefits that irrevocable trusts provide.
- Health Care Directives – A health care directive or proxy involves naming someone else to make health care decisions for you if you cannot make them for yourself. Health care directives can also include instructions regarding specific situations, such as how long life support should continue to be administered if you’re in a coma or persistent vegetative state.
- Powers of Attorney – A durable power of attorney gives someone else the power to act on your behalf if you can no longer do it. For example, it would give the person you designate the power to make decisions for you if you became incapacitated.
Schedule a Free Consultation with Our Experienced Estate Planning Lawyers in West Los Angeles Today
Our West Los Angeles estate planning services include comprehensive and customized guidance throughout the process. This ensures that your estate plan covers all the bases and is exactly what you want and need. Estate plans can designate who controls your life if you become incapacitated and what happens to everything you have after you’ve passed away. When the stakes are that high, there’s no room for error. At Ghanooni Law Firm, we take your estate planning needs very seriously, and you can always count on us to get the job done and do it right.
Contact us online or give us a call at (213) 429-7749 today to speak with our experienced estate planning attorneys about your situation.