Creating an Effective Estate Plan

Estate plans, wills, trusts, and all other probate-related matters are some of the most complicated and challenging legal procedures. When an individual wishes to create a plan for their future, called an estate plan, seeking the trusted help of an Irvine probate lawyer is strongly suggested. There are many benefits in making an unambiguous estate plan, including providing your family with a precise, step-by-step analysis of how you want your assets distributed. Without a clear plan, your family will be forced to go through the process of probate, a time consuming and costly process that can take up to two years to resolve entirely.

From Bradley R. Kirk & Associates, Inc., the legal team has provided readers with invaluable information as to creating an effective and precise estate plan. The first step in creating this plan is to hire a lawyer. Your legal representative will be able to provide you with useful information and the legal complexities of planning for your future. Next, your attorney should help you take the proper steps to avoid probate for your family. Probate is the lengthy legal process that a family must go through after losing a loved one. During probate, a nine-month to two-year process, the court will appoint an executor or administrator of the assets, who will then divide the assets as set by the law. Since the probate process does take a rather long period of time, avoiding it at all costs will be an important step of creating an effective estate plan.

Next, your attorney will walk you through the steps of drafting an estate plan or will, which will dictate how your trusts, assets and estates will be divided amongst beneficiaries. Your attorney will review your version of the plan to ensure it is flawless and unambiguous. An estate plan that contradicts itself or encompasses confusing literation will create misunderstandings for the court, the trustee or administrator, and the beneficiaries. With confusion, disputes may arise more easily, forcing your beloved family into trust or probate litigation.

In addition to dictating where your assets will go after you pass away, you can also determine how these funds will be paid out. For example, a young child who receives a large amount of money from a deceased parent may not be ready to handle such a heavy responsibility. With help from your probate lawyer, you will be able to decide when your beneficiaries can receive these values.

If you are considering planning for the future, talk to an Irvine probate attorney from the firm today. With over 15 years of experience in this area of the law, the team is prepared to assist you in some of the most complex estate planning, trust, wills, and probate matters in Irvine, California.