• How to Select the Right Estate Planning Attorney for Your Needs

    What is Estate Planning?

    First things first—what is an estate plan, and why do you need one? Estate planning involves financial preparations in the event of your incapacitation or death. The core documents involved in estate planning include wills, trusts, powers of attorney, and living wills. A good estate plan appoints an administrator to carry out your wishes, determines beneficiaries to inherit your assets, and takes steps to minimize estate taxes.

    Estate Planning Attorney In Tracy, CA

    The Importance of Choosing the Right Attorney

    Not all attorneys are equally qualified or experienced in the areas where you require assistance. The decisions you make during the estate planning process will affect your family’s financial security and peace of mind once you’re gone. Estate planning involves complex legal and financial issues requiring specialized knowledge to navigate successfully. Expect an experienced attorney to provide personalized advice based on your specific situation.

    Remember, estate planning is not a one-time event but a process that requires updates and adjustments as your circumstances change. Therefore, having a lawyer you can trust and build a long-term relationship with is essential. Proper planning also helps avoid common pitfalls and mistakes that could result in financial losses or legal issues, making your choice of attorney a vital decision for your family’s future.

    Qualifications to Look for in an Estate Planning Attorney

    Take your time when finding the right estate planning law firm in Tracy, CA. Your decision should be based on far more than a quick internet search. Here are the most important qualifications and attributes to consider.

    Experience and Specialization

    Experience is a crucial factor when selecting an estate planning attorney. Look for a professional who has been practicing law for a minimum of five years to ensure they have handled a variety of cases. For the best results, the lawyer should specialize in estate planning to ensure they know the latest laws and tax strategies.

    Certifications

    Look for an attorney who has been certified as a specialist in Estate Planning, Trust & Probate Law by the State Bar of California Board of Legal Specialization. This is a California Supreme Court-approved method of certifying attorneys as specialists in certain areas.

    Reviews

    Reading online reviews provides valuable insights into an attorney’s service quality and client satisfaction. As you gauge past clients’ experiences, look for consistent praise of good communication, professionalism, and results.

    Ethical Standards and Professional Ratings

    High ethics are essential when choosing an estate planning attorney. A Martindale-Hubbell® BV Distinguished® rating indicates that the lawyer has demonstrated high ethical standards and professional excellence. Also, check your state’s bar association website for any history of disciplinary actions against the attorney. A clean record and strong reputation in the legal community provide peace of mind that you’re working with a trustworthy professional.

    What to Expect at Your Initial Consultation

    Your first meeting with an estate planning attorney is an opportunity to assess whether they are a good fit for your needs. To make the most of this consultation, it’s important to come prepared. Bring financial statements and any previous estate planning documents, including wills and trusts. During the consultation, be ready to discuss your family, financial situation, and estate planning goals. This discussion will help the attorney understand your circumstances and tailor their advice accordingly.

    It’s also important to ask questions about the attorney’s experience, fee structure, and approach to estate planning. Understanding how they will handle your case and the costs involved helps you make an informed decision. As you ask these questions, note your comfort level with the attorney. You should feel at ease and confident in the attorney’s abilities to manage your estate plan.

    Why Choose Bakerink, McCusker & Belden for Estate Planning?

    Estate law is complex. Unless you have an incredibly simple estate, you probably need a lawyer to help you make the best decisions and create documents that will hold up over time. That’s where the team at Bakerink, McCusker & Belden comes in.

    We have over 35 years of legal experience providing the guidance our clients need and deserve. Our law firm is consistently ranked among the “Best of Tracy” and holds a distinguished rating from Martindale-Hubbell. We offer personalized and passionate legal support for all your estate planning needs. Contact us today for a free, no-obligation consultation in Tracy, CA, and let us help secure your family’s future.

  • How Long Does It Take To Remove A Trustee?

    Steps for Removal of Trustee in Tracy, CA

    Common Reasons for Changing or Revoking a Trust

    Trusts can figure prominently in estate planning. Living trusts are established when an individual makes plans for his or her estate and are controlled by the person who established until the time of his or her death. A trust can also be established in a will for the beneficiaries by the deceased. Some trusts are easy to change, while others can be difficult, depending on the circumstances under which it was established. Any time you want to create, change, or revoke a trust, it is important to seek the help of an estate-planning attorney in Tracy to make the process easier and ensure you adhere to the complicated requirements under the law.

    Reasons for Changing a Trust
    Changing a trust, or modifying it, for any reason is relatively simply if it is revocable. Your lawyer can help you write an amendment to the trust that is attached to the original document. This kind of modification is ideal for minor adjustments in terms that don’t dramatically alter the trust, such as tweaks that provide inheritance tax or adding a beneficiary. For major modifications, revoking the trust may be easier than attaching a number of amendment. Irrevocable trusts are more difficult to modify. The consent of all beneficiaries is required, regardless of the reason, and your lawyer must demonstrate to the court that there is a legally valid cause for amending the trust. Either the person who established the trust or his or her beneficiaries can request the modifications. Generally, these modifications are requested for tax savings or to change beneficiaries.

    Removal of Trustee in Tracy, CA

    Reasons for Revoking a Trust
    Revocable trusts are dissolved for a number of different reasons. Divorce commonly triggers the dissolution of a trust that was created jointly. Changes in financial situations, beneficiaries, property ownership, and company ownership can also lead people to revoke trusts to change the way they are managing their assets. In some cases, a trust is revoked and rewritten by a will lawyer when several modifications are required at one time. Fortunately, a lawyer can help you determine when to modify a trust and when to revoke it.

    When Can a Trustee Be Removed?

    Trusts can be crucial to your family’s future, so in some cases, it may be necessary to remove a trustee from his or her management position. If you suspect that a trustee should be removed, then consult with your lawyer. There are some very specific circumstances in which a trustee should be removed, so talk to your attorney in Tracy or Livermore if you suspect that any of these issues are occurring.

    Neglecting Assets
    Part of being a trustee is ensuring that the assets in a trust are managed appropriately. To do so, the trustee must not use the assets in a way that devalues them or waste them. In some cases, a trustee may be inattentive, causing the value of the assets to fall, or in other cases, the trustee may be incompetent and devalue the trust through improper management. In either of these cases, removing the trustee from the case may be warranted to protect the future of the trust. Your lawyer can evaluate the actions of the trustee and decide if taking action to remove the trustee is appropriate.

    Not Complying with Terms
    Whenever a trust is established, there are specific terms associated with it that must be followed by the trustee who administers it. The trustee is legally bound to both adhere to the terms of the trust and act in the interest of the beneficiaries. If he or she violates these terms, then your lawyer may petition to have him or her removed as trustee on your behalf.

    Conflict with Beneficiaries
    A trustee should have a neutral feeling towards beneficiaries and should never engage in conflict with one or more members. These kinds of disagreements can interfere with the trustee’s ability to act in the best interest of all of the members of the trust and therefore compromise his or her ability to fulfill the duties of a trustee. Lawyers will frequently move to have a trustee removed if such a conflict arises.

  • Why Don’t More Americans Have an Estate Plan?

    Millions of American adults don’t have an estate plan , despite it being the only way to ensure one’s wishes are carried out after death. One of the primary reasons why so many adults are in this situation is because it’s assumed that one must be wealthy in order to visit an estate planning attorney in Tracy or Livermore. If you’re one of these millions of American adults, it’s worth your time to explore the many benefits of estate planning.

    Document hinting at the need for Americans to have an estate plan in Tracy, CA

    Estate attorneys do much more than just draft wills. They can create trusts, offer guidance on advance directives, and minimize estate taxes. With the help of your lawyer, you can make arrangements to manage your property during your life and after your death, and you can put a plan in place just in case you become incapacitated. If you have minor children, you can designate a legal guardian for them in the event that you die before they reach the age of majority. A comprehensive estate plan can make arrangements for family businesses, and provide for special needs dependents. In short, nearly every adult can benefit from visiting an estate planning lawyer to discuss future arrangements.

  • How Life Insurance Fits into Your Estate Plan

    You can purchase life insurance at any time, without consulting a lawyer. However, if you want to maximize the inheritances of your heirs , your best option is to seek professional estate planning advice in Tracy or Manteca. An attorney who handles these cases can give you the most effective guidance to make estate laws work for your family’s benefit.

    Watch this video to find out how. It features a financial planner, who presents the hypothetical example of a husband and wife who each gift $14,000 to each of their three children. This totals $84,000. The financial gifts would help their children today, but if the couple were to invest that amount into life insurance, their children could receive around five million in death benefits in the future.

  • Estate Planning Terminology Every Adult Should Be Familiar

     

    Estate law involves complex nuances of language, and the terminology can be baffling to non-lawyers. You can always count on a will lawyer near Tracy or Manteca to fully explain anything that isn’t clear to you. However, it’s still advisable for all adults to have a basic understanding of the most common estate planning terms.

    Glasses over a document, showing estate planning terminology in Tracy, CA

    Last Will and Testament

    Your will dictates how, after satisfying debts, your remaining assets in your estate will be distributed to your heirs. Heirs are also called beneficiaries. You can use your will to distribute specific pieces of property if you wish, or to provide for your pets in the event that they outlive you. If you have any minor children, you should use your will to designate a guardian for them.

    Guardian

    A guardian is someone whom you trust to raise your minor children in the event that you die before they reach the age of majority.

    Executor

    The executor of your will is the person who will be responsible for seeing that its terms are carried out. Even when the executor works with a lawyer, he or she will have many complex responsibilities. Before designating an executor, you should ask that person if he or she is willing to take on these responsibilities.

    Trust

    A trust is a document that is legally binding. You can transfer assets into the trust during your lifetime. The trust manages the assets, and after your death, the trust distributes the assets to your beneficiaries.

    Trustee

    A trustee is a person whom you’ve designated to manage the trust. A trustee might also be a corporate entity instead of a single person. Trustees are responsible for administering and distributing the trust in accordance with the instructions in the trust document.

    Probate

    Probate is a legal process. It begins when the executor of a will files the will with the probate court in order to validate it. Validating a will means to prove that it’s legally valid. Probate involves paying the decedent’s debts and distributing the remaining assets.

     

  • Dealing with Sentimental Items in Your Will

     

    When most people think of wills and estate planning, they think of money and real estate, but in reality, some of the most contested items may be things of sentimental value. Your will lawyer in Tracy can help you decide the best way to give away sentimental items when you prepare your will.

    Dealing with Sentimental items

    For some people, it makes sense to give away sentimental items now, rather than allowing them to be distributed after your death. You get to see people enjoy the gifts, and you can prevent any squabbling between relatives. You may also find out that what people are sentimental about it not what you think. If your will lawyer suggests putting items in the will instead, he or she will encourage you to be as specific as possible. For instance, simply saying that all of your belongings go to your children leaves the door open for disputes over who gets which belongings. Your attorney may also help you create a framework for settling disputes, such as setting up a bidding system your heirs can use if more than one person is adamant about getting an item.

  • Preparing for Your Estate Planning Appointment

    Estate planning is essential for every adult, regardless of the extent of their assets. When it’s time for you to visit an estate planning attorney in Tracy or Livermore, you should take some time to prepare. Arriving with the right documents and information allows you to get the most out of your estate planning appointment.

    Watch this video to find out which documents and information you will need to bring to your appointment. You’ll also learn about some of the matters that your lawyer can assist you with beyond the creation of a last will and testament. When you arrive at your appointment, you should be able to clearly state how your lawyer can help you, such as by offering general advice, setting up a trust, or protecting your assets.

  • A Closer Look at Advance Directives

    An advance directive does not deal with your finances, but it’s still an important component of estate planning. When it’s time to visit an  estate planning attorney located in Tracy or Manteca, you can have him or her create your advance directive along with your last will and testament. This legal document informs your family members and healthcare providers of your healthcare preferences in the event that you are no longer capable of communicating these preferences.

    In an advance directive, your attorney could explain that you prefer to accept or refuse life-extending medical care. Use this document to specify your preferences regarding tube feeding, artificial respiration, and dialysis. If your heart rate or breathing stops, medical providers will need to know if you want to be resuscitated. If not, this is often referred to as a DNR, or a do not resuscitate order. Along with your advance directive, consider establishing a durable power of attorney for healthcare. This is a legal document that designates a healthcare proxy, which is a person whom you entrust to make healthcare decisions on your behalf if you are no longer able to. Your healthcare proxy will follow any preferences specified in your advance directive.

  • What Are the Components of a Complete Estate Plan?

    Consult Estate Planning Lawyer Estate planning can be complicated, but delaying getting your affairs in order may lead to undesirable consequences. If you’ve experienced a change in life circumstances, such as the birth of a child, a marriage, or the death of a family member, it’s time to make an appointment with a will lawyer with offices in Tracy or Livermore. Your estate planning attorney will walk you through the process step-by-step.

    Will

    Wills are a cornerstone of estate planning. A will serves several functions, including providing for the distribution of your property in accordance with your wishes. If you die intestate, which means without a last will and testament, then your property may be distributed in accordance with the laws of your state. Of course, it is not necessary to list every valuable item you own in your will. A simple will may leave all of a person’s possessions to his or her significant other. Or, you may designate most of your possessions to one person, with the exception of certain family heirlooms to be passed along to other individuals. You can also use your will to make charitable contributions and designate an executor. If you have minor children or you care for a permanently disabled individual, you can use your will to designate guardians .

    Beneficiary Designations

    You may have other beneficiaries in addition to those you name in your will. If you have a life insurance policy, you should check your designated beneficiaries and update this information if need be. You may also designate beneficiaries for your retirement plans.

    Trust

    You may choose to have your estate planning attorney establish a trust, which may provide tax advantages for your heirs. You can also use a trust to control the distribution of property after your death. For example, you may wish to leave assets to your minor children, but you may not necessarily want them to have access to the funds right away. You could structure your trust so that your children will receive a certain amount at specific intervals. A trust can help prevent financial irresponsibility among younger beneficiaries.

  • When Should You Start Planning Your Estate?

    If you haven’t yet spoken with an estate planning lawyer in Tracy or Manteca, it may be time to make an appointment. Adults can consult attorneys about estate planning at any age. However, as you will learn when you watch this brief video, most individuals begin the estate planning process when they encounter major changes in their life circumstances.

    These changes may include getting married, becoming pregnant, adopting a child, or launching a new business venture. Estate planning tools, such as a last will and testament and a trust can protect your financial interests and those of your surviving family members. Since life is unpredictable, it’s best not to wait too long before addressing estate planning issues.