Newport Beach Estate Planning Lawyer

Newport Beach Estate Planning Attorney

Estate planning is probably the last thing most people want to think about, but it’s the most important decision you’ll never regret making. Death tends to sneak up on us, which is why a Newport Beach estate planning lawyer from Engels-Janzen can help you make sure you don’t leave behind a trail of confusion, legal wrangling, and unhappy relatives.

That’s the kind of drama no one wants to deal with, so why not take the wise, responsible road and plan ahead? It’s easier than you think, especially with the help of qualified legal counsel from our firm.

Why Does Estate Planning Matter?

You have a beautiful home, an old CD collection, and possibly a small fortune tied up in the fixer-upper vehicle gathering dust in your garage. Some of your assets might not seem particularly exciting or high-value, but they’re still yours, which means you have the right to decide what happens to them after you have passed away.

When it comes down to who gets them, you are the only one who should be able to decide. However, without proper planning, your estate might be divided up by a judge who has never met you.

That’s where the magic of an experienced Newport Beach estate planning lawyer from Engels-Janzen comes into play. We make sure everything from your home, bank accounts, investments, and that mysterious collection of vintage comic books is given out according to your wishes.

Estate planning isn’t just about writing a will and calling it a day; it’s about creating a well-crafted plan that accounts for your assets, your loved ones, and your vision for the future, all while minimizing unnecessary taxes and ensuring a smooth process for everyone involved.

The Basics: What Does Estate Planning Include?

At Engels-Janzen, estate planning isn’t a one-size-fits-all type of deal. Our goal is to design a plan that fits your unique choices, and while everyone’s situation is different, estate planning typically includes several key elements. These are:

• Trusts — A trust lets you manage your assets while you’re still alive, and when you pass away, they can be given to whomever you choose. Trusts are a way that you can prevent the hassle of probate court. They can be flexible and customized to fit your family’s needs.
• Power of Attorney — A designated power of attorney makes sure someone you trust is managing your money when you have become incapacitated due to illness or old age. By appointing a power of attorney, you can keep your interests alive when you step away from the helm.
• Healthcare Directives — What happens if you are unable to make medical decisions for yourself? A healthcare directive lets you appoint someone to make those tough calls for you.
• Beneficiary Designations — You may see this one more commonly, especially when it comes to retirement accounts and life insurance. Beneficiary designations are important to keep up-to-date so your assets go to the right people.
• Wills — Wills might be what people think of most when they think of estate planning, but wills are not always enough on their own. Wills cover the assets that don’t have a beneficiary designation or a trust already in place.
• Guardianship Designations — If you have minor children, naming guardians for them is very important. Having a plan in place for the unfortunate possibility that you pass away while they are still young ensures they will be cared for by someone you trust and who respects your wishes as a parent.

Estate planning isn’t just about putting things in order for when you are gone; it’s about making sure your loved ones don’t have to untangle a mess after you’re gone. So, consider the legacy you want to leave behind for your loved ones, and let Engels-Janzen, your trusted Newport Beach estate planning lawyer, help you make a plan that keeps things simple and drama-free for everyone you care about.

Why You Need a Lawyer

Creating a foolproof plan isn’t as simple as pulling up an online template and filling in the blanks. While DIY legal documents might seem convenient, they’re often filled with issues that may not be obvious at the beginning but are difficult to fix later on. There are numerous complex tax laws, asset protections, and state-specific regulations to understand and navigate, especially in California.

Engels-Janzen knows the ins and outs of California estate law and can make sure your plan is legally sound and tailored to your specific needs. When it comes to estate planning, leave no room for errors. Whether you are a homeowner, business owner, or someone with a modest number of assets, a professional can help you get everything in order with the least amount of hassle.

What Happens If I Die Without an Estate Plan in California?

If you don’t have an estate plan in California, the state steps in and makes these important decisions for you, whether you like it or not.

Instead of your assets going exactly where you want them to, they’ll be divided according to intestate succession laws, which basically means a legal flowchart decides who gets what. Your spouse might not inherit everything, and your kids (or even long-lost relatives) could end up with a surprise inheritance.

Without a plan, your estate must also go through probate court, which is the legal process of settling a deceased person’s estate. This is a court-supervised procedure that involves validating the will (if there is one), paying off debts, and distributing assets to the rightful heirs. While this may sound straightforward, the probate court is anything but simple.

Probate can be a long and expensive journey, often taking months or even years to complete, depending on how complicated the estate is and whether there is infighting among your heirs. Plus, the costs, which include court fees, attorney expenses, and executor fees, can chip away at the estate’s value, leaving less for your loved ones.

Having a solid estate plan puts you in control, keeps the peace, and saves your family from a bureaucratic headache. If you’re ready to take charge, a Newport Beach estate planning lawyer from Engels-Janzen can help you make sure your wishes—not the state’s—are honored.

Is Estate Planning Just for the Wealthy?

Estate planning isn’t just for people with high-value assets. Everyone, regardless of their income level, can benefit from having a plan in place. In fact, even if your estate is modest, an estate plan can save your loved ones time, money, and emotional stress. Planning can also make sure that your wishes are honored and that your assets are divided up as you see fit.

Life is, oftentimes, unpredictable, so preparing your estate for an untimely death isn’t just smart—it’s vital.

FAQs

Can I Change My Estate Plan After It Has Been Signed?

Absolutely! The great thing about estate plans is that they aren’t set in stone. We understand that large life changes can happen all the time, and your estate plan should reflect those shifts. A Newport Beach estate planning lawyer from Engels-Janzen can guide you through making changes to your documents so that your current wishes are accounted for.

What Happens to My Social Media Accounts If I Don’t Include Them in My Estate Plan?

If you don’t make a plan, your social media accounts could live on in digital limbo, which may not be what you want. Platforms have different policies. Some platforms let family members close accounts, while others require a court order, but if you want to avoid your old vacation selfies haunting the internet forever, you can include digital asset management in your estate plan and designate a “digital executor” to handle your online life the way you’d want it.

What Happens to My Minor Children If I Don’t Have an Estate Plan?

If you pass away without naming a guardian in an estate plan, the court has the power to decide who raises your children, and it could potentially be someone you wouldn’t have personally chosen. This process can be stressful for your loved ones and disruptive for your children. By creating an estate plan, you can designate a trusted guardian and make sure your kids are cared for by someone who shares your values and parenting style.

What Happens to My Family Business If I Don’t Have an Estate Plan?

Without an estate plan, your family business could face serious interruptions and legal complications or even be forced to shut down. Without clear instructions, ownership might be divided among heirs who have different ideas about running the business or no interest in running it at all. A well-crafted estate plan ensures a smooth transition, preserves the company’s legacy, and protects employees and stakeholders from unnecessary uncertainty.

Don’t Wait. Contact Engels-Janzen Today

If you’re ready to protect what matters most, don’t wait for the “what ifs” to catch you off guard. At Engels-Janzen, we’re here to help you navigate your way through the estate planning process and make sure your wishes are clear, your assets are protected, and your loved ones are well taken care of.

Contact us today to schedule a consultation, and let’s get started on crafting a plan that puts you in control now and for the years to come.