Estate Planning
Estate planning is life planning
Everyone has an estate. A good plan protects it from excessive cost and tax, and settles it in an orderly way for the people you choose.
An estate plan is the set of documents that control who receives your property, who manages it, and who makes medical and financial decisions if you cannot. In California a complete plan usually pairs a revocable living trust with a pour-over will, an advance health care directive, and a durable power of attorney.
You may not realize it, but everyone has an estate. An effective estate plan will take into consideration your current assets as well as the anticipated increase in value of your existing estate. In anticipation of your family’s needs, you should take steps to preserve your estate and protect it from excessive costs and taxes. Ultimately, the goal will be a stress-free and orderly settlement of your assets to your chosen beneficiaries upon your passing. Tresp Law, APC can compose every component of a comprehensive estate plan to ensure your legacy.
California estate planning at a glance
- Core documents
- Revocable living trust, pour-over will, advance health care directive, durable power of attorney
- What a will alone does
- Directs distribution and names an executor — but does not avoid probate
- What a trust adds
- Assets titled in the trust generally avoid probate and its statutory fees
- Incapacity
- A trust plus a directive and DPOA can avoid a conservatorship proceeding
- Who needs one
- Anyone who owns California real estate, has minor children, or wants to choose their own decision-makers
Preserve your family’s wealth
Whether you are planning for future medical care or establishing support for loved ones upon your death, we can help with all aspects of estate and tax planning issues, including:
- Estate Planning
- Estate Tax Planning
- Guardianships
- Conservatorships
- Advance Health Care Directive
- Durable Power of Attorney
- Wills Drafting and Revisions
- Selection of the Appropriate Executor
- Revocable Living Trusts
- Irrevocable Trusts
- Generation-Skipping Trusts
- Special Needs Trust
- Qualified Personal Residence Trust (QPRT)
- Qualified Terminable Interest Property Trust (QTIP)
- Irrevocable Life Insurance Trust (ILIT)
- Grantor Retained Interest Trust (GRIT)
- Grantor Retained Annuity Trust (GRAT)
- Grantor Retained Unitrust (GRUT)
- Charitable Trusts
- Private Foundations
Securing your legacy
Knowing that you have planned for your family’s long-term well-being and financial security can assure you that the fruits of your lifetime of hard work are directed and safe. Elizabeth and her team undertake a comprehensive analysis of your current and anticipated estate. We then determine the best means of transferring your assets, minimizing taxes, establishing guardianship for your children, caring for your pets, supporting personal philanthropic causes, and protecting your loved ones.
What does a will actually do?
Your will is your legal declaration, specifying your intended disposition of your property upon your passing. Your will also nominates the person you wish to act as the executor for your estate. Creating a will is the first and most basic step you must take to ensure your estate is managed in accordance with your wishes.
A will alone will not protect your estate from probate, but a will does serve as a critical foundation to a comprehensive estate plan. When accompanied by a trust, the will is known as a “pour-over will” and will address assets not titled in the name of your trust at the time of your passing.
Drafting your advance health care directive and last will and testament
A will is essential at every stage of your life. As discussed below, an Advance Health Care Directive nominates an agent to make healthcare decisions for you when you can’t do so yourself. This assures that when you are most vulnerable, your wishes will be honored.
Your last will provides the opportunity to distribute your property, establish care for your children and otherwise express your wishes upon your death. A will is necessary if you intend to leave property to a person or entity other than a blood relative, a friend, or a charity. If you die without a will, the court determines how your property is distributed, who cares for your children, and even what happens to your pet — making decisions that might not reflect your desires. Tresp Law, APC will draft your will to ensure that your intentions are always honored.
Can you change your will later?
As your life changes, so might your estate plan. You may need to update your will throughout your life. We draft valid codicils that address changes in your financial situation, marital status, number of children, philanthropic interests, and general lifestyle decisions.
Appointment of guardianship
If you have minor children, your will allows you to make decisions about their future care. This is especially crucial if you are a single parent or if both parents die in a single incident. If you do not nominate a guardian, the court appoints a guardian and can make decisions adverse to your ultimate parenting goals. You can also make arrangements for your pets’ care in your will, including naming a guardian to take responsibility for your pets.
Advance health care directive
An Advance Health Care Directive (AHCD) details the actions you would like to be taken if you are unable to make decisions for yourself due to some health issue, such as illness or injury. Additionally, your AHCD designates someone to make decisions on your behalf should you become incapacitated.
Experiencing a serious health issue can be emotionally tumultuous for you and your loved ones. An Advance Health Care Directive helps relieve some of the stress by ensuring that your wishes are clear for emergency medical treatment, life-sustaining care, and end-of-life.
Durable power of attorney
A Durable Power of Attorney for Property (DPOA) enables you to designate someone to make financial and legal decisions on your behalf should you become unable to do so yourself, such as due to incapacity from a health issue or mental incompetency.
Where does a trust fit in?
A trust, prepared by Elizabeth A. Tresp and her team, is one of the most important elements of a successful estate plan.
Trusts can come in a number of forms. Trusts may be revocable, sometimes known as a “Living Trust,” or irrevocable. Both include a number of elements that define the assets held within, designate your beneficiaries, and designate a trustee to manage the trust assets and income for the economic benefit of your beneficiaries.
Assets in a trust, other than a testamentary trust, most often will avoid the probate process and the associated statutory fees. With the guidance of Tresp Law, APC, you can ensure that your assets are protected and that your beneficiaries are able to avoid the stress and expense that the probate process can cause. A will, alone, is not enough.
A trust can also prove critical to avoid conservatorship proceedings if you ever become physically or mentally incompetent before your death.
| Will only | Will + revocable living trust | |
|---|---|---|
| Avoids probate | No | Yes, for assets titled in the trust |
| Becomes public record | Yes, once filed | Generally no |
| Handles incapacity during life | No | Yes, via successor trustee |
| Typical time to settle | One year to several years | Weeks to months |
| Statutory attorney fees apply | Yes — Prob. Code §10810 | No |
Speak with a estate planning attorney
Tresp Law, APC is an excellent Estate Planning law firm in San Diego County, with offices in Cardiff-by-the-Sea, Mission Brewery Plaza in San Diego, and Kemmerer, Wyoming. Not all lawyers are equal. If you need a proactive, knowledgeable, and effective Estate Planning lawyer, call us today at (858) 248-2779 or contact us online to schedule a consultation.
Related services
Common questions
Frequently asked
Does everyone need an estate plan, or only wealthy families?
Everyone has an estate. If you own California real estate, have minor children, or want to choose who makes medical and financial decisions for you, you need a plan. The size of the estate changes which tools are appropriate — it does not change whether planning is needed.
Is a will enough to avoid probate in California?
No. A will directs how property is distributed and names an executor, but property passing under a will still goes through probate. Only assets properly titled in a trust (or passing by beneficiary designation or survivorship) avoid the probate process and its statutory fees.
What happens if I die without a will or trust in California?
California intestacy law decides who inherits, and the probate court decides who administers the estate and who cares for minor children. Those decisions may not match what you would have chosen.
How often should an estate plan be reviewed?
Review your plan after any major life change — marriage, divorce, a birth, a death, a significant change in assets, or a move to another state — and otherwise every few years. We draft valid codicils and trust amendments to keep the plan current.
What is a pour-over will?
A pour-over will is the companion document to a living trust. It directs any asset that was not titled in the trust at your death to “pour over” into it, so the trust’s terms still govern how that asset is distributed.
This page is general legal information, not legal advice, and does not create an attorney-client relationship. California trust and probate law is fact-specific and deadlines are unforgiving — please speak with a qualified attorney about your own circumstances.
Talk with a San Diego trust & estate attorney
Let’s protect what you’ve built.
Whether you are planning ahead, administering a trust or estate, or facing a dispute, our attorneys will tell you plainly where you stand and what your options are.