Best Estate Planning Attorneys in San Jose

FAQs

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

  Please call the San Jose Police Department at 408-277-8900 to report non-emergencies.

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

  Citizens may request reports online, via mail, or in person. Concerned parties may also visit the SJPD Records Unit at 201 West Mission Street, San Jose, CA 95110, or call them at 408-277-4261. Note, however, that there are certain guidelines that must be observed when requesting incident reports, pursuant to Government Code 6254(f). For more information, please visit this link: https://www.sjpd.org/records/crime-incident-reports.

• Under San Jose estate planning laws, what happens to a trust established with a soon-to-be ex-spouse when an individual files for a divorce?

  In San Jose, when a divorce or Registered Domestic Partnership is finalized, wills and trusts are automatically revoked. However, this is not the case when physical separation occurs or a dissolution petition is filed. The estate plans created during the separation stage prior to the final marriage dissolution are generally not reflective of the grantors' intentions. Additionally, because deaths during this time are handled according to the existing documents, regularly updating the estate plan with an attorney is critical to reflect the grantors' wishes.

• What is the role of a successor according to San Jose estate planning laws?

  Being named an estate's successor in San Jose means you are responsible for managing the trust and carrying out the wishes of the deceased. Common responsibilities include paying creditors and taxes, distributing assets, and keeping records of estate-related expenses. While not necessary, it is highly recommended to hire an experienced estate planning attorney to help you fulfill your fiduciary obligations by guiding you through the process.

• Can a trustee in a San Jose estate be removed under California laws?

  To change the trustee, the settlor - the person who established the trust - only needs to make a simple amendment to the trust. However, it's harder to remove the trustee if the trust is irrevocable or if the settlor has passed away. Only the court can do this. A beneficiary may want to do this if they think the trustee is not acting in good faith. To do so, the beneficiary in San Jose must request it from the court.

• Is it possible to amend or cancel a will after it has been drafted under San Jose estate planning laws?

  Yes, you can modify or revoke a will after creating it. It's a good idea to review your will periodically to ensure it reflects your current assets and property in San Jose. It is a good idea to examine your will before and/or after a significant life event, such as getting married, divorcing, or having a child. Do not change your will by simply crossing out or adding provisions. Taking these certain actions may jeopardize the validity of your will due to specific California probate laws.

• Can a San Jose resident just create his own estate plan without consulting a lawyer?

  One can, but there is no guarantee that it will be honored by San Jose courts especially if the documents do not adhere to California laws. While many online services offer "do-it-yourself" estate planning packages, a small error or oversight can lead to costly, time-consuming, and contentious probate, which can be emotionally exhausting for the bereaved family of the deceased. It is recommended to consult with an estate planning lawyer to avoid this hassle.

• What does an estate planning attorney do?

  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.

• What are valuable estate planning services an attorney can provide?

  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

  
  

• Can estate planning attorneys help create trusts/wills?

  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.

• Is estate planning the same as drafting a will?

  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.

• What are the steps involved in estate planning?

  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.

  
  

• How long does the estate planning process last?

  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.

• What is a trust?

  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.

• How does a trust fund work?

  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.

• How does a living trust work?

  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.

• Do I need a lawyer for a will?

  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.

• Can you have both a will and a living trust?

  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.

• How much does it cost to set up a trust?

  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.