A MESSAGE FROM REX CRANDELL ABOUT
now and the end of the year would be a good time to take care of any estate
planning needs and objectives that you may have related to transferring your
estate to your beneficiaries. You will
need to answer questions relating to who will receive benefits from your estate
after you are gone. The best time to
consider these issues is well in advance of any pressing need to take care of
this long-term life planning. Estate
planning normally includes the following documents.
Living Trust To
avoid: a) probate and b) to avoid receiving a MediCal charge back against your
estate assets and c) to avoid a court supervised Conservatorship should you
Will and Testament This
directs your executor to put any assets into the trust and follow the
instructions described in your trust. Includes
nominating a guardian for your minor children.
Power of Attorney for Financial
Management Should you become
unable to personally take care of your finances; you have already appointed
your financial manager. It also avoids a
Conservatorship for assets that are held outside of your trust.
Health Care Directive Authorizes
an agent to talk with doctors and make decisions regarding medical issues
should you not be able to communicate with medical staff.
of Transfer Personal Property To
transfer title to personal property assets to your trust because they do not
have registered proof of ownership. For
example, a grand piano.
people think that a Will is the best way to transfer assets at death. In
my opinion, a Will is an outdated, costly, and time-consuming way to transfer
assets to heirs. The reason is that a Will
must is required to have a probate legal case in the county where the person
resided. If a person has more than $166,250 of assets that are transferred by
the will, then a probate is required by law to transfer assets to
beneficiaries. The probate process
frequently costs from $25,000 to $35,000 in processing fees. Probate freezes all estate assets under strict
court control for eleven to eighteen months, or more. The probate case file becomes a public accessible
record that includes all your private family and asset information. Because the information is made public,
marketing companies frequently target beneficiaries of estates for a variety of
sales offers. The entire probate process
can be easily avoided if a person creates a revocable trust and transfers title
to the assets in the name of the trust.
own real estate in California, then you need a revocable trust. When you have a revocable trust, then your
Will can be prepared to the few assets that are not owned in the name of your
trust. Your successor trustee follows your
specific written instructions to transfer assets as you wish.
revocable trust does NOT eliminate all estate administration issues for the
successor trustee after someone passes away. However, the administration of a trust is much
simpler than probating a Will.
provide the services of estate planning for our clients. First, we listen carefully to what a person wishes
for the transfer of assets after they are gone.
Then the documents are prepared using information we received from our clients
and make a custom designed written plan for their estate. A one size fits all approach does not work
for estate planning.
call our office to set an appointment to discuss your estate planning
objectives. We can discuss fees for
estate planning services at that time. If you choose not to utilize our services in
the creation and implementation of your estate plan, there will be no cost or
obligation on your part for our initial meeting.
recommended that you contact our office and request our Estate Planning
Questionnaire & Organizer Forms prior to your
appointment. The estate planning questionnaire provides a place for you
to list your assets and identify your beneficiaries so that enough information
will be available to get an overview of your estate planning needs, desires,
tax requirements, beneficiary information and your distribution plan.
contact our office to schedule your no-obligation estate planning meeting. Call now, so that your estate plan can be
designed, implemented, and completed before the end of this year. Do not delay. Your beneficiaries will appreciate your
advance planning in this area.
Our firm looks forward to
hearing from you soon.
Very truly yours, Rex Crandell, CPA, Attorney and Staff _________________________________________________________________
CONTACT: . Rex L. Crandell Firm 3000 Citrus Circle, #207 Walnut Creek, CA 94598 Serving
the San Francisco, East Bay, Contra Costa and Alameda Counties . (925) 934-6320 .(800) 464-6595 . E-Mail: email@example.com; Internet: http://www.rexcrandell.com Fax: (925) 934-6325 . All U.S. Mail: Rex Crandell Firm P.O. Box 30305 REQEP
Walnut Creek, California 94598-9305 United States of America