Lynn Ryder – estate planning for middle income families
Proper estate planning will preserve your assets, allow you to buy what you want today and, in the end, distribute your remaining assets exactly as you wish.
As important as it is, many people, particularly folks who do not consider themselves wealthy, put off estate planning. That’s partly because it looks complicated, but a sound estate plan consists of only four essential parts, none of them terribly complex.
Revocable Living Trust
A plan that keeps your assets under your control while you are living but specifies in detail who gets what and when after you die. If you live in California and own a house, you probably need a trust. If you have assets worth more than $150,000, you need a trust. It will free your family of the burden of probate.
This document details how you want your assets and possessions distributed after your death. A pour over will works
in conjunction with a Living Trust, “pouring” assets outside the trust into the trust when you die.
Wills are not just for old folks. If you have minor children, your will nominates a guardian to care for them in the event that you pass away before they reach 18.
Names an individual to act in your behalf on specified matters should you be incapacitated.
Appoints an agent who will carry out your wishes for healthcare if you are unable to communicate for yourself.
This one is difficult to think about, but who do you want making the toughest decisions for you?
Click Advance Health Care Directive to see what the document contains.
I’ll help you build an estate plan that will bring you peace of mind and ensure that you maintain control of your life. Your first consultation is free. And, if you’re more comfortable discussing these issues at home, I’ll come to you at no extra charge.
Lynn B. Ryder, Attorney at Law
Affordable Estate Planning