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Building An Estate Plan For Your Future

An estate plan acts as a safety net to ensure that your loved ones are looked after when you pass on and that the assets you worked so hard to earn go to the beneficiaries you choose. As vital as an estate plan may be, developing one on your own can cause more problems than solutions.

At the Law Offices of Tecla M. Lunak, APC, we are fluent in California estate planning law and can help you create or update an estate plan that your loved ones can turn to when they need it most. We take the time to work with our clients to learn about their unique needs and craft a plan that addresses those needs, whether you need a will, trust or anything else.

What Is The Difference Between A Will And A Trust?

You may be surprised to learn that a will and trust are not the same thing, and you are not alone in that belief. Each of these facets of an estate plan has a lot to offer you. For example, a will is a legal document that specifies how you want to distribute your assets once you have passed on. These documents go through the probate court and are subject to court supervision.

A trust, on the other hand, is a legal entity that allows you to hold and manage any assets you want a beneficiary to receive. There are many forms of trusts, the most common of which is the revocable or living trust. The basic benefit of a trust is that it avoids probate and permits the orderly disposition of your estate upon your death without the need for a formal hearing or court supervision. Proper estate planning can ensure your loved ones have what they need, your wishes are followed, and there is minimal delay in passing assets to those designated.

A Custom-Tailored Plan

Everyone has their own needs in their estate plans, and we can help you develop something that meets your unique needs, such as by adding inclusions like:

  • Appointing a power of attorney to act on your behalf and make legal and financial decisions for you if you become incapacitated by illness or injury
  • Create an advance health care directive to specify your medical wishes regarding organ donation, life support preferences, what medical operations you consent to and other medical specifications
  • Establishing a family limited partnership (FLP) to preserve generational wealth and permit tax-free asset transfers of finances, real estate and more

No matter your income level and what you need help with, we can develop an estate plan you can depend on.

Create A Plan With Confidence

If you are ready to talk to an experienced legal team about your estate plan needs, contact our Palm Desert office today. Call us at 760-621-6113 or email us here to schedule your initial consultation today.