Palm Springs, CA Estate Planning Attorney

RELIABLE ESTATE PLANNING ATTORNEYS AT Gilbert & Bourke, LLP

Estate planning involves making arrangements for the distributions of your assets and properties after death. Many people avoid thinking about estate planning and put it off until it is too late.

By working with an estate planning lawyer, you can ensure that a clear expression of your wishes is in place can provide an extensive range of benefits and can also prevent a lot of wasted time, hassle, and frustration for your loved ones.

Whether you want to establish a trust and/or will, need to navigate the probate system after the death of a loved one or have any other estate-related legal need, our Southern California attorneys at Gilbert & Bourke are here to assist. We give each client personalized attention and customize our services to perfectly meet their needs and goals.

How can our Palm Springs attorneys assist you in preparing your estate? Tell us about your estate planning goals: (760) 800-6038.

Commonly Asked Estate Planning Questions

What Does My Estate Consist Of?

When planning your estate, it's important to know what assets actually make up your estate. Your estate includes all assets that you own at the time of your death. These can include:

• Real Property
• Personal Property
• Bank Accounts
• Retirement Plans
• Life Insurance
• Businesses
• Investments
• Debts

Assets transferred in an irrevocable trust during your lifetime are not included in your estate. Other assets, such as pay-on-death accounts, property owned with a right of survivorship, and savings bonds with named beneficiaries are also not included in your estate. This means these assets can generally avoid the probate process.

What Happens If I Don't Have a Will?

Without a will or trust in place, the assets that you own will pass by intestate succession. This means that your spouse and children will receive them. If you do not have a spouse or children, they will be passed on to other relatives. It is never too early to begin planning out your trusts and estate.

What Are Some Benefits of a Last or Living Will?

A will is a legal document that states your final wishes. It determines who your property goes to, guardians for any minor children, how debts and taxes will be paid, and more. This document is relatively easy to create, and our estate planning attorneys can give you peace of mind knowing that your loved ones will be taken care of, should the unexpected occur.

Some benefits of creating a will include:

• Least complex estate planning device
• Easier to set up than other methods
• Your final wishes clearly expressed in a legally sound manner
• Minimize disputes between family members

Do I Need a Trust?

A trust is another type of legal document that ensures property and assets are transferred to heirs according to your wishes. Different from wills, trusts offer more privacy as they do not have to go through the probate system, they can also offer significant tax advantages for those with a high net worth. While they are more expensive to establish than a will, the benefits often supersede the costs.

In some cases, individuals can benefit from having both a will and a trust. Our Palm Springs estate planning attorneys can analyze your estate to see if we recommend setting up both types of documents.

Do I Need an Estate Planning Attorney?

Why hire our attorneys? For planning an estate, it's important to hire an attorney with specialized knowledge and experience in this area of law. While anyone can benefit from counsel with an estate planning lawyer, it's essential for people with unique family or financial situations involving:

• Substantial assets
• Recent divorce or second marriages
• Disabled family members
• Real estate property owned in other states
• Minor children or children from a previous marriage

Additionally, when you work with an attorney on your estate, you can update your estate plan if there are changes in your life or in the law. Estate attorneys can ensure your plan stays compliant with federal and state law while still respecting your current wishes for your assets.