Monday, July 13, 2009

Settling a Thriller Estate in California

And the battle begins…..

When the will and trust of a celebrity like Michael Jackson become headlines, it’s a great reminder to the rest of us to get a good estate plan in place and keep it in place. The controversy about whether he had a will or not, whether he had a trust or not and who has a copy of the latest will or trust has just begun. Jackson’s family will probably be entrenched in court debates about his intentions, his capacity and the existence of conflicting estate planning documents for years. The certainty in this upcoming circus is that the lawyers involved will prosper. The probate code requires their fees to be paid before the beneficiaries or the creditors of the estate get paid. Only tax liabilities have priority over the attorneys getting paid.

Most of us will never be front page news, but the risk of this type of nightmare is very real if you do not take steps to prevent it. Having a will is good. It tells the world (literally, since it must be lodged with the court upon your death, and thereby becomes public information) how you want to dispose of your assets and who you want to be the guardians of your minor children. Even better is having a trust so that your family will not have to deal with your assets going through probate. Instead, they will be able to settle your affairs in a much more private, speedy and confidential manner.

Avoiding probate is probably the number one reason people come to visit Generations and speak with our Sacramento estate planning attorneys about having a trust done for them. We have helped many of the “superstars” of Sacramento create trusts that allow their families to settle their estate without the prying eyes of the ever-curious public. Should your privacy be any less protected?

Do not leave your family without the power to distribute your assets in a timely and private manner. If you fail to do so, only the lawyers will prosper.

Please contact our Sacramento estate planning attorneys today to discuss how best to secure your estate and to ensure it is passed on to those who matter most to you. Sphere: Related Content


answerstash said...

I never thought about this important and considerable point but now i will surely take some steps to make my family future save after my death.answerstash

CJ said...

My grandmother recently passed away and I am learning a bit about the difference between a trust and a will. So thank you for helping clear up my confusion.

law firm philippines said...

Yeah, it has been a big controversy for Jackson family.
Securing trust and will testament is really important. If my time comes I will ensure that my family future is secured.