Question 1

What is the non-emergency contact number for the local police station in Encino, California?

Accepted Answer

If you want to report a non-emergency situation in Encino, you can contact the local police department at (907) 343-6400.

Question 2

Where can I get a copy of police reports for incidents related to my case in Encino, California?

Accepted Answer

To get a copy of your police report in Encino, a neighborhood in the San Fernando Valley region of Los Angeles, California, you can easily access the Los Angeles Police Department's website at https://www.lapdonline.org/inside-the-lapd/obtaining-police-information/.

Question 3

Why is it important to have an estate plan in Encino?

Accepted Answer

In Encino, California, having an estate plan gives you control over how your assets are distributed, ensuring they go to the beneficiaries and organizations you want them to. By working with an estate planning attorney, you can minimize taxes, fees, and costs associated with the process. Additionally, an estate plan offers the required legal structure to safeguard your assets and give you and your nearby family members peace of mind.

Question 4

What are the benefits of hiring an estate planning lawyer in Encino?

Accepted Answer

It will be beneficial to have an estate planning lawyer in Encino who can help you and your loved one plan for the future. They can assist with the creation of comprehensive estate plans that cover significant matters including beneficiary designations, asset inheritance, decision-making during incapacity, and guardianship for your minor children in the case of your passing. By engaging an estate planning lawyer, you can help your loved ones avoid potential legal complications and the overall emotional turmoil that can arise.

Question 5

What are estate planning services available in Encino?

Accepted Answer

Estate planning lawyers in Encino offer a variety of services to meet the needs of their clients. They offer foundational services such as creating revocable living trusts. These lawyers also have expertise in complex estate planning services, such as trust administration, the development of intricate wills, asset protection specifically designed for doctors, and specialized planning for people with special needs and charitable causes.

Question 6

What happens if the decedent in Encino has no estate plan?

Accepted Answer

In the event that a decedent in Encino does not have an estate plan, the court will step in and appoint an administrator to handle the administration of the decedent's estate. The court will then supervise the distribution of assets in accordance with the applicable statutes, adhering to California's inheritance rules.

Question 7

When do you need to hire an estate planning attorney in Encino?

Accepted Answer

The short answer to the question is that you should hire an estate planning attorney in Encino as soon as possible. While it may be tempting to postpone estate planning due to the uncomfortable nature of contemplating mortality and the perceived complexity of gathering legal documents, delaying the process carries its own risks.

Question 8

What does an estate planning attorney do?

Accepted Answer

An estate consists of the total assets that form an individual’s net worth, no matter how large or small. Estate planning attorneys use their in-depth knowledge of state and federal laws to help people best manage what will happen with their estates after they die or become incapacitated. Estate planning attorneys can prepare wills, form trusts, reduce estate tax burdens, and decrease or eliminate the need for probate court.

Question 9

What are valuable estate planning services an attorney can provide?

Accepted Answer

With the many intricacies of assets, taxes, and state and federal laws that can affect a person’s estate, an estate planning lawyer can be a valuable professional asset, no matter how large or small a person’s estate may be. An estate planning attorney can:

Create a comprehensive plan to protect a client's legacy, that includes a will, power of attorney, trusts, life insurance, and advanced medical directives
Optimize an estate plan as tax laws, life events, assets, and goals change over time
Protect a client’s loved ones by preventing assets from entering probate
Help clients designate a person to make important health decisions for them if they become incapacitated

Question 10

Can estate planning attorneys help create trusts/wills?

Accepted Answer

Estate planning attorneys can create trusts and wills. Through a will, an attorney can help a client designate their estate’s beneficiaries and assign an executor to represent the will in probate court. These attorneys can also create trusts, allowing a client to assign a trustee to oversee the estate, potentially avoiding probate court and holding assets to be distributed over time.

Question 11

Is estate planning the same as drafting a will?

Accepted Answer

While both estate plans and wills officially document how their owners wish to allocate certain assets after their death, there are key differences. In estate planning, a will is often just one of several documents that form a comprehensive plan. In a will, people must designate a person responsible for executing their will after their death. The will can include guardians for their children when they die and beneficiaries to receive an inheritance of money, property, and other assets.

Question 12

What are the steps involved in estate planning?

Accepted Answer

To create a thorough and effective estate plan, individuals should follow these steps:

Prepare a will that designates an estate executor; indicate who will receive what assets, and assign a trust and guardians for any children. Consider using an attorney if the will is in any way complex.
To avoid probate, have an attorney create a revocable living trust.
Assign beneficiaries to other assets, such as life insurance policies, retirement plans, and securities.
Use an attorney to prepare a living will, name a health care proxy, and create a HIPAA release form.
Update the plan every five years.

Question 13

How long does the estate planning process last?

Accepted Answer

The length of the process can vary greatly depending on the size and complexity of the estate, the specific law office, and whether there’s an emergency or urgent need. If you’re using an attorney, you can generally expect it to take one to five weeks. You may be able to speed up the process by immediately providing your attorney with any bank statements or other documents they need.

Question 14

What is a trust?

Accepted Answer

A trust is an agreement between a grantor, a trustee, and a beneficiary. In this agreement, the grantor allocates funds or real property assets to the trustee to be held either until the grantor passes away or until a specific, agreed-upon date. At that point, it's the responsibility of the trustee to distribute funds or property to the beneficiary or beneficiaries. While there are similarities between a will and a trust, a will is a more comprehensive document that typically requires probate court, while a trust allows assets to pass to the beneficiary without probate.

Question 15

How does a trust fund work?

Accepted Answer

When opening a trust fund, a grantor allocates a trustee to oversee and manage assets in the account. This trustee can sometimes be a relative, an estate lawyer, or a bank that acts as the legal owner of the trust. While holding assets, the trustee is required to file taxes on trust assets.

Question 16

How does a living trust work?

Accepted Answer

A living trust enables a grantor to manage their assets through a trustee while still alive. They can continually add funds and/or property to their trust fund by transferring them to the trustee, who accepts ownership of everything held in the fund. The grantor can name a beneficiary for their trust, and their assets will be automatically transferred to that person or establishment upon their death.

Question 17

Do I need a lawyer for a will?

Accepted Answer

No, a lawyer is not required to draft or complete a will. However, there are some scenarios in which hiring an estate lawyer to assist with a will is a good idea, including when children or high-value assets are involved. Additionally, an estate lawyer can help to reduce probate fees and taxes paid by loved ones after a person dies. It's also best to work with a professional to ensure that the will addresses everything necessary, such as funeral plans, guardianship, and asset distribution.

Question 18

Can you have both a will and a living trust?

Accepted Answer

Yes, and individuals who have a living trust should also have a will. While a living trust enables a person to leave funds and assets to a loved one when they're gone, a will is required to cover any assets that aren't included in the trust, such as guardianship of dependents, funeral plans, and forgiveness of outstanding debts, if applicable.

Question 19

How much does it cost to set up a trust?

Accepted Answer

The cost of setting up a trust varies quite a bit depending on a variety of factors, including terms that are in place, special provisions for minor beneficiaries, and trustees' basic fees. In most cases, the minimum cost of setting up a trust is about $1,500, but depending on the factors mentioned above, this cost can increase by thousands of dollars.

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Frequently Asked Questions

What is the non-emergency contact number for the local police station in Encino, California?

Why is it important to have an estate plan in Encino?

What are the benefits of hiring an estate planning lawyer in Encino?

What are estate planning services available in Encino?

What happens if the decedent in Encino has no estate plan?

When do you need to hire an estate planning attorney in Encino?