San Diego Business Law asks many of its clients if their estate is in good shape and often times they answer yes without knowing that their estate is actually in bad shape. The vast majority of Americans haven’t even made a simple will, much less a more comprehensive plan to save on estate taxes and delegate their estate clearly. While we all have things that we’d rather do than think about what is going to happen after we die, it is still an important subject to consider. Based on your age, health, and wealth we can create a will that is right for you. There are a few things that need to be considered to decide what kind of will is right for you.

If you have a life partner but don’t have a marriage certificate, a will is imperative. Without a will the state law will dictate where your property goes after your death and your partner will get nothing but your closest relatives will get all. The other way to ensure that your partner gets some of your assets is to own large items together, such as houses and cars, together in “joint tenancy” with right of survivorship. This way, when one of you dies, the survivor will automatically own all of the property.

If you have young children you already know how much they can complicate life! They also complicate estate planning. You must, must, must have a will. You will need to name a guardian for your children or else the court will appoint someone. The problem with this is that the court may appoint someone who you would rather not raise your children. If you die without a will your children may end up with all of your assets, leaving your spouse with nothing. In order to invest or spend the money your spouse will have to get court permission which is a waste of time and money in most families.

If you are Middle-Aged you are probably in the comfortable stages of life. You will most likely have accumulated some material wealth and enough wisdom to understand that other things matter too. You probably want to take some time to think about what you will eventually leave behind. One good option is to create a revocable living trust. It’s not much more difficult than writing a will and allows everything to go to you heirs without going through probate court. While you are alive the trust has no effect and you can change or revoke it at any time. After your death it can be transferred quickly and according to the directions you left in the trust document.

If you are Elderly or Ill you will need to establish an estate plan immediately. You need to consider a probate-avoidance living trust and a tax saving trust if you are concerned about taxes. Then you need to consider the possibility of not being able to handle the day-to-day finances or health care decisions. If you don’t prepare for these possibilities a judge may have to appoint someone to make these decisions for you. Most people don’t want the court interfering with such personal patters and prefer to appoint someone themselves. You may want to create power of attorney documents to take into effect if you become incapacitated.

Living Wills and Trusts - Overview
Living Wills and Trusts - Estate Executor
Living Wills and Trusts - Right to Inheret
Living Wills and Trusts - Preparing for the Worst
Living Wills and Trusts - Multiple Benefeciaries

Victoria Boynton, San Diego Business Lawyer emphasizes legal expertise in San Diego for:

• Business Law
• Contract Law
• Trademark Law
• Copyright Law
• Wills and Trusts
• Arbitration
• Power of Attorney
• HYATT Legal Plan
• Signature Legal Plan

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San-Diego-Business-Lawyer.com represents clients in both commercial and residential real estate transactions. We have years of experience in sales, exchanges, negotiation, drafting, finance, loan workout, restructurings, sale-leasebacks, acquisitions, and even more of the intricacies of the real estate world that most law firms don’t even begin to understand.

With our range of clients, San-Diego-Business-Lawyer.com advises our clients on everything that could possibly arise in the course of their business. We offer a unique approach to a business man’s situations – that of a business man. While it may seem so obvious to you, as a business owner, we have found that many lawyers forget to take into account the business view of the situation and only look at the logistics. We have found that if you can not understand where your client is coming from than you can not help them.

It is for this reason that we have the understanding and ability to advise our clients in every aspect of business planning. We deal with choice of entity and formation of new corporations, limited liability companies and partnerships, board of directors and shareholder agreements, joint venture agreements, supply agreements, franchise arrangements, licensing and distributorship agreements, leasing transactions, general contract law matters, and many more legal matters that may arise.

We provide free consultation for business law, contract law, trademark law issues and for wills and trusts in San Diego California. Contact a San Diego Business Lawyer today.