Too often, people think that estate plans are only for the wealthy, for older people, or for people who have investments. In truth, estate planning is an important step for everyone. Attorney Mary Ann Tardiff, who provides estate planning services to Atascadero and nearby communities, has several reasons why this is important.
Planning for the future
- An estate plan is one way to make sure that loved ones are provided for by allowing you to identify which of your heirs receive which assets.
- For parents, an estate plan can be used to identify guardians for minor children, and how assets are to be allocated for the care and education of their children, including trusts for their financial futures.
- Estate plans are an effective way to prepare for the event of your incapacity, including designating granting powers of attorney to trusted family or friends to handle financial and legal matters on your behalf.
- If you own a business or are in a business partnership, an estate plan can guarantee the business continues after your death or incapacity. An estate plan can protect your business partner’s interests and protect any family interests.
An appointment with the Atascadero estate planning attorney can make sure your estate plan is set up correctly.
Legally avoid probate
Without a trust, which is a critical piece of an estate plan, the probate court decides how assets are distributed. Any estate in California that has a value over $184,500 is subject to probate court proceedings.
How the court finally distributes your assets may not be according to your wishes, or in the best interest of your heirs.
Support favorite charities
You can specify favorite charities to benefit from your estate. An estate plan gives you options for continuing to support those charities, such as establishing charitable trusts, setting up donor-advised funds, or direct bequests. An estate plan that includes charitable donations also provides tax benefits for your estate.
Family issues
Family conflicts have a way of rising to the surface when inheritances are on the table. A well-prepared estate plan reduces the likelihood of family disputes having any influence over how assets are distributed. If there are any legal challenges to the estate, the trusts usually prevail.
An estate plan is also the best way to make provisions for blended families. Former spouses/partners, children from those relationships, a current spouse, his or her children, spouses of children, grandchildren, and other relationships can all be included (or excluded if needed) in an estate plan.
Rely on the legal expert
Mary Ann Tardiff is an experienced Atascadero-based estate planning attorney who can assist you with your estate plan:
- Inventory all of your assets.
- Assist with retitling of assets and preparing deeds.
- Transfer those assets so they are properly held in trust.
- Establish guardianship for minor children, dependent adults, and even beloved pets.
- Assist with setting up college funds.
- Make sure favorite philanthropic causes are included in the estate plan.
- Draft a will.
- Assist with preparing a living will.
- Guidance for power of attorney related to wills, living wills, and trusts.
- Establish trusts and other legal entities beneficial to the estate.
Ms. Tardiff has been an attorney for over 30 years “Providing Legal Services & Solutions Just For You.” Her practice focuses on small businesses, estate planning, elder law, consumer rights. Areas of service are from San Luis Obispo County to Monterey County.
She makes house calls and offers fixed fees.
Law Office of Mary Ann Tardiff
6907 El Camino Real, Ste A
Atascadero, CA 93422
(805) 451-6683