DO I NEED AN ESTATE PLAN?

Whatever the size of your estate, you and your heirs will benefit from an estate plan. If your estate is small in value, you may focus simply on who will receive your assets after your death and who should be in charge of managing your estate. Alternatively, if your estate is larger, Rosser will discuss not only who will receive your assets and when, but also various ways to preserve your assets for your beneficiaries and to reduce or postpone the amount of estate tax which otherwise might be payable on your death.

If you do no estate planning, then California law dictates who will take responsibility for your personal care and assets if you become incapacitated. If you do no estate planning before you die, California law also determines the distribution of your assets to your heirs; this is known as “intestate succession,” and may not conform with your wishes. In addition your estate will most likely go through probate, which is burdensome to your heirs and costly to your estate.

There are four main reasons people establish an estate plan:

1. To avoid Probate

2. To decrease Estate Taxes

3. To ensure their estate is distributed in accordance with their wishes

4. To make managing the estate as easy as possible on their loved ones.

Rosser J. Pettit can help you develop a comprehensive estate plan to meet your needs. He will be happy to meet with you for an hour to discuss you estate planning concerns for free.