To learn more about the process and to gain solutions to overcome barriers to future planning, watch the webinar “Estate Planning and Defining Your Legacy.”
Here are some Frequently Asked Questions:
What is the cost for an estate plan?
Costs for estate plans depend on the complexity of the estate. Average estate plans in California range from $2,500 to $5,000, or more depending on legal circumstances.
What if your successor trustee dies before you do? Who acts as a professional trustee? A lawyer?
A lawyer can act as a professional trustee as well as certain companies and other professionals and institutions that do estate administration work.
What is a holographic will?
A holographic will is a handwritten will that you write and sign yourself and is an alternative to a will produced by a lawyer. According to Investopedia, holographic wills do not need to be witnessed or notarized, which can lead to some issues. Additionally, some states do not recognize holographic wills. States that do permit holographic wills require the document meet specific requirements to be valid.
Additional questions you may be interested in asking an attorney as you develop your estate plan:
- What happens if a beneficiary bequeaths property and owes money to the state?
- If all your liquid assets are Payable on Death (POD) how will debts, burial expenses, taxes, etc. be paid?
**This information does not constitute legal or medical advice, please consult with your legal advisor or medical professional for expert advice.**