Everyone Needs A Will
Many California residents save estate planning for their old age. This is unfortunate because creating estate plans earlier in life protects you and your family. Estate planning accomplishes more than simply determining who will eventually receive your assets. Wills and trusts protect your loved ones from unnecessary taxation, uncertainty, and conflict during probate.
Paul V. L. Campo is an experienced lawyer who can help you and your family avoid the pitfalls that result from poor estate planning.
What Is A Pour-Over Will?
Pour-over wills relate to families that have set up a trust. Perhaps the best way to explain the concept is by using a simple illustration: What happens if John and Jane fail to transfer title to a significant asset into the name of their revocable trust? They lose the three major reasons for creating their trust — management, transferability and tax savings.
To avoid this problem, one technique used is to take the forgotten property and place it into the name of the trust after the death of the last trustor. The asset is literally “poured over” into the trust. The terms of the pour-over will specifically allow for this to occur, and indeed this is the primary (although not the only) reason people execute them.
Don’t Wait For The Last Minute To Draft A Will
A will is more than a document that directs the disposition of your property after death. Wills are integral part of comprehensive estate plans. For example, you can designate the guardians of your minor children in your will.
If you die without a last will and testament, a court will make final decisions about the distribution of your property and the care of your children.
Additional Tools To Help You With Your Estate Planning
All parents of minor children in north San Diego County should designate a guardian.
Your Estate Planning Strategies Should Start With A Will — Call Today
Call our offices in Vista at 760-691-1081 or reach us by email to arrange a free, no-obligation consultation with attorney Paul Campo today.
What Our Clients Say | Legal Associations
“Thank you for your services in managing the probate of my mother’s estate. Your professionalism and fairness are much appreciated.”
– Probate Client
“As a client of Paul’s in my capacity as a Professional Fiduciary, he has guided me through the intricacies of trust administration on many occasions.”
Patty, California Licensed Professional Fiduciary (CLPF)
– Trust Administration Client
“Mr. Campo did a great job on my estate planning. He was very thorough and made me aware of several things I hadn’t considered. I highly recommend him.”
– Estate Planning/Trust Administration Client
“The service I received goes beyond professionalism. It’s all about caring for my wishes and goals and coming up with the ideal estate plan for me.”
Carol, Lt. Col. USMC (Ret.)
– Estate Planning Client
“I am very grateful to Attorney Paul Campo and his excellent staff for guiding me through the complex probate process.”
– Probate Client