Estate Plans, Wills, and Trusts

Helping You Manage Your Estate Wisely

Drafting an estate plan that ensures your loved ones’ financial security requires knowledge and experience. The Law Offices of Kevin A. Taheny, Inc. in San Mateo, CA is here to provide you with the information you need and helpful recommendations to make wise and informed decisions regarding your estate. Browse this page for an overview of estate plans, trusts, and wills.

What is estate planning?

Estate planning means planning for the management of your estate during your lifetime, and for the distribution of your estate after your death. Estate planning is a process to make sure your wishes regarding your property are honored and that your family is provided for after you are gone. An estate plan is designed to typically:

Ensure your estate is distributed to your beneficiaries in the manner you choose.
Minimize taxes and avoid probate administration of your estate.
Nominate persons to act for you if you are not able or after your death.

An estate plan is usually composed of some of the following documents:

Powers of Attorney

- Advance Health Care Directive and Durable Power of Attorney

Trust
Will

What is a will?

A will is a written statement of your wishes regarding which persons your estate should be distributed to after your death. It may be handwritten (called a “holographic” will), or typewritten, and there is also a California Statutory Will form. All wills can only be valid if done as the law requires. In California, you must generally be age 18 or older and of sound mind. A will usually avoids the court probate process. Wills are the most common way for people to plan their estates for after their deaths.

Click on the link to learn more about wills.

WillsWills

What is a probate?

Probate is a court-supervised process of transferring a decedent’s property to beneficiaries. Typically, a prospective personal representative petitions the court for authority to administer your estate. The probate court then determines the validity of any will, appoints the personal representative (called an “executor” if there’s a will or an “administrator” if there is no will) to manage the estate subject to the supervision of the court, and sets the amount of bond unless waived by the will.

Click on the link to learn more about probate.

ProbateProbate

What is a revocable living trust?

A revocable living trust is usually a written document signed by a person (called the "trustor") creating the trust and naming a person (called the "trustee") to manage assets to be held in the trust for a "beneficiary," the person designated as the recipient of funds or other property, according to its terms and for the purposes the trustor specifies. A living revocable trust is revocable at any time during the trustor's lifetime if the trustor is competent.

Click on the link to learn more about revocable living trusts.

Revocable Living TrustsRevocable Living Trusts

Why should you think twice about joint tenancy?

Placing your home in joint tenancy or community property with a right of survivorship with your spouse automatically passes the property upon your death, avoiding probate. However, there are capital gains to consider and other potential problems with these devices besides avoiding probate.

Click on the link to learn more about joint tenancy.

Joint TenancyJoint Tenancy

What is a power of attorney?

A Power of Attorney allows you to give someone you trust the power to act on your behalf to take any action you permit in the document. It is also an important document should you become incompetent or unable to manage your affairs. These powers of attorney can be made "durable" (to survive your incompetence) and/or "springing" (to become effective upon your incompetence). A power of attorney may be revoked. A written notice of revocation to the person named to act for you is usually required.

Click on the link to learn more about powers of attorney.

Powers of AttorneyPowers of Attorney

What is an Advance Health Care Directive?

An Advance Health Care Directive has replaced the Durable Power of Attorney for Health Care. It allows you to give another person who you trust the power to make medical decisions for you when you are incapacitated. This person may only have legal authority to make decisions about your medical care if you become unable to make these decisions for yourself. It also allows you to give advance instructions for your health care if you are unable to do so while incapacitated. Your health care providers and your health care agent must follow your lawful instructions.

Click on the link to learn more about Advance Health Care Directive.

Advance Health Care DirectiveAdvance Health Care Directive

Start Drafting an Estate Plan Today

The Law Offices of Kevin A. Taheny, Inc. can provide you reliable legal assistance in preserving and distributing your estate and help you plan for your family’s financial future – from creating an estate plan with all the necessary legal instruments to administering your plan. Call our office for a free consultation.

LAW OFFICES OF KEVIN A. TAHENY, INC.

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700 S. Claremont St., Suite 101

San Mateo, CA

Fax: (650) 349-1000

This website is designed for general information only and should not be used as a substitute for or relied upon as legal advice.

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