Hollywood & West Hollywood Estate Planning Lawyer

 

Estate planning is part of the financial planning that families in West Hollywood use to preserve wealth. Lars Kushner understands estate planning and will work hard to transfer your assets to your beneficiaries while navigating many complex issues along the journey. A common misconception is that wills and living trusts are for individuals at an advanced stage of life or who have immense wealth. These myths are simply untrue, however, as creating an effective estate planning strategy is important for any person. A comprehensive plan can protect your and ensure your assets are passed on to your intended beneficiaries in Metropolitan Los Angeles area.

Kushner Legal is an estate planning law firm serving West Hollywood that can help answer your questions now. At our law practice in Hollywood, CA, we have expert estate lawyers to serve you. Our years of experience in employing legal strategies to protect the financial assets of our clients is why we have become a leading estate law firm in Los Angeles. Taking into the consideration the value of your assets and your long-term financial goals, we tailor an estate plan that works for you.

 

What Is Estate Planning?

 Estate planning is the process of organizing an individual’s assets in the event of their incapacitation or death. Estate planning can also be used as a tool for limiting taxes, avoiding steep probate costs, and restructuring possessions to qualify for certain benefits. In many cases this process is conducted with the help of an attorney, since the documents involved can be quite complicated and must be executed according to California law. 

Having an expert West Hollywood estate planning lawyer can help with structuring an estate plan correctly. Team Kushner can help limit the burden of taxes and specify how decisions should be made in the event of incapacitation or death. An estate plan can consist of many components, such as: 

• A Last Will and Testament (will)
• Trusts
• Durable Power of Attorney
• Advanced Healthcare Directives

 

These tools can be used in tandem to create a comprehensive and effective estate plan to protect a person’s assets. These documents are only effective when prepared in advance, while a person is healthy. In this state, they are able to make sound decisions, underscoring the importance of estate planning early in life.

 

Intestate Vs. Testate

• Once an individual dies, the court will handle their estate differently depending on whether the individual had a will in place. If they did have a will prepared, they are considered to have died testate, meaning the distribution process will take their will into account during the probate process.
• If an individual did not have a will in place, however, they are said to have died intestate. In such situations, the court must take greater control in distributing their assets. California Probate Code Sections 6400-6414 dictates how their estate will be distributed, prioritizing spousal and first-order familial relationships.

 

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When Should I Begin Estate Planning?

Deciding when to prepare an estate plan is crucial. Beginning the process too late can limit the effectiveness of some of the estate planning tools, namely trusts and power of attorney documents. For this reason, it is important to consider your assets, family structure, and future goals to determine when to begin estate planning.

If you have assets, it is possible to begin establishing an estate plan. Life is unpredictable and estate planning in advance can ensure that your assets are protected, regardless of the situation. Additionally, it is important to continuously review and update your estate plan as major life events can greatly impact your finances.

 

Can I Avoid Probate Through Estate Planning?

One major benefit of estate planning is reducing the time and costs associated with probate proceedings. Wills must pass through probate, but trusts do not need to be probated. This nuance is key to estate planning, as trusts can be leveraged to avoid probating substantial assets. It’s critical to consult with an experienced estate planning attorney serving West Hollywood & West Hollywood to discuss your options.

Moreover, California Probate Code Section 5020 highlights that an individual can consent to a non-probate transfer of property that they jointly own with a spouse. Having this consent prior to an individual’s death can help streamline the process of distributing these assets.

 

A Kushner Legal Estate Planning Attorney Is Ready To Help You Today

Having an estate plan in place can help limit the burden of taxes and ensure that your assets are passed down according to your wishes. For these reasons, estate planning is incredibly valuable. Don't fall victim to the common mistakes in the estate planning process, as highlighted by our blog post.

Kushner Legal works with West Hollywood & West Hollywood residents to create an estate plan according to California laws that ensures the legal and financial rights of our clients remain protected. We believe in the importance of responsibly handling assets and property and help our clients tailor their plan to fit their unique needs. Estate planning can be intimidating. Let us help ease the burden.

 

Fill out a simple contact form or call Kushner Legal at 310-279-5166 to get started today.

Timing can be critical in estate planning so it is important to call Kushner Legal at 310-279-5166 or
submit a contact form to get your questions answered and begin setting up your estate plan today.

We can discuss your matter over the phone, over Zoom, or meet you at our office or a convenient location in the West Hollywood & LA area.