Estate Planning

Proper estate planning allows you to plan for yourself and your loved ones without giving up control of your own affairs.  Your estate plan should allow you to plan for the possibility of your own disability.  Without prior documentation of your final wishes, state law will determine these issues and the final disposition of your estate.

Revocable Living Trusts

A Living Trust allows property in your estate to be transferred to your named beneficiaries privately, confidentially and outside of Probate.  You can amend or revoke your Trust at any time and for any reason while you are alive.  You maintain ownership of all property in your Trust.  For married couples we offer a Shared Trust.  In a Shared Trust the Marital Deduction allows property of the first-deceased spouse to pass to the surviving spouse free of any Estate Tax.  Upon the death of the surviving spouse, there is only one Estate Tax exemption available for the entire estate, that of the surviving spouse. 

For 2020, the Federal Estate and Gift Tax exemption is $11.58 million per individual.  Only people who die with an Estate value greater than $11.58 million will owe any Federal Estate Taxes under current law.  In California, there is no Estate Tax.  Exceptions are: property inherited from another state which may be subject to that state's inheritance tax; and withdrawals from inherited retirement accounts, which are taxed as ordinary income.

Package and A La Carte Pricing for a Revocable Living Trust are as follows:

  • Single Person Trust Package ...................... $695

  • Married Couple Trust Package .................. $895

  • A La Carte Trust w/Pour Over Will ......... $595

  • A La Carte Trust Transfer Deed ................. $250 

All of our Living Trust Packages include the following documents:

  • Revocable Living Trust with Exhibits

  • Pour Over Wills

  • Durable Powers of Attorney and Nomination of Conservator

  • Advance Health Care Directives

  • Nomination of Guardians (If Needed)

  • Trust Transfer Deed (One - Additional Deeds $250 Each)

Wills

A properly written and executed Will is a document that every person should have.  It ensures that your wishes are carried out by your executor and your property is distributed according to your instructions.  If you have minor children, you can nominate a guardian for your children in your will, as well as provide directions for their housing and financial care.  With a Will you can:

 

  • Leave Your Property to Beneficiaries You Choose

  • Provide Special Gifts of Family Heirlooms to Loved Ones

  • Appoint Your Executor to Carry Out the Terms of Your Will

  • Set Up a Contingent Trust if Appropriate for Your Children

  • Designate Charities to Receive Your Estate

  • Provide for the Care of Your Pets That Are Left Behind

  • Disinherit Individuals

  • Revoke Previous Wills

Pricing for Wills is as follows:

  • Simple Will .................................. $200

  • Will with Contingent Trust ........ $500

Durable Powers of Attorney

A Durable Power of Attorney (DPA) for finances gives a person you designate the authority to act on your behalf in financial matters if you are incapacitated.  Typically these powers include transactions in real estate, banking, government and retirement benefits, and other financial matters.  A Durable Power of Attorney can be active immediately, or it can become active only upon your incapacity.  A DPA which becomes active only upon your incapacity is known as a Springing Durable Power of Attorney.  A DPA which is constructed for specific, limited transactions, and only for those transactions, is known as a Limited Durable Power of Attorney.  For example, a Limited DPA may be constructed to provide powers only for the sale of a single piece of real property.  You can also use your Durable Power of Attorney to nominate a Conservator of your estate.

A typical Durable Power of Attorney allows your agent to: 

  • Pay Your Expenses

  • Manage Your Bank and Retirement Accounts

  • File and Pay Your Taxes

  • Manage and Maintain Your Real Property

  • Add Property to Your Living Trust

  • Continue to Operate Your Small Business

  • Collect Social Security and Other Benefits on Your Behalf

Pricing for a Durable Power of Attorney is $150.00

Advance Health Care Directives

In California, Advance Health Care Directives allow you to appoint an Agent for health care who has legal authority to make medical decisions for you if you become unable to make those decisions.  With Advance Health Care Directives you can specify your wishes regarding medical treatment, such as pain-relief or life-sustaining measures that you may or may not desire if you are incapacitated. 

Advance Health Care Directives allow you to:

  • Name an Agent for Health Care if You Are Incapacitated

  • Specify Your Wishes for Medical Treatment in Advance

  • Specify Your Wishes for Internment, Should You Die

  • Donate Your Organs to Needy Recipients, or For Research

  • Name Your Physician

  • Continue to Operate Your Small Business

  • Collect Social Security and Other Benefits on Your Behalf

Pricing for Advanced Health Care Directives is $75.00

Please Contact Us

12301 W. Pico Blvd, PH13

Los Angeles, CA 90064

Ph: 408.892.4613

Fx: 800.886.0846

eMail: deborah@valleylegaldocuments.com

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