Estate Planning Attorney Serving Los Angeles, California

Unless you have a time machine, it is not a good idea to wait until the very last moment to create an estate plan that puts your affairs in order. “But creating an estate plan seems like a daunting task,” you might think. Fortunately, you do not have to navigate this complicated process alone.  

Rodney Gould is here to assist you with putting your affairs in order to meet your unique planning needs. As an estate planning attorney in Los Angeles, California, Mr. Gould can help you prepare the necessary legal documents and formalize your end-of-life decisions tailored to your particular goals. The Law Office of Rodney Gould also serves clients in Beverly Hills, Sherman Oaks, West Hollywood, and Studio City.  

Why Everyone Needs an Estate Plan

When many people hear the term “estate planning” they immediately imagine a bed-ridden senior citizen who tells their loved ones how to divide assets after their death.

However, estate planning is not just for the elderly or terminally ill people. In fact, everyone can benefit from having an estate plan because they can do the following: 

1. Avoid probate. Probate is a time-consuming and costly process, not to mention that it can be extremely inconvenient for your heirs. There are several ways to set up your estate plan to avoid probate.  

2. Reduce taxes. Estate planning is also a solution for those who want to reduce taxes and maximize their legacy for their heirs. Without an estate plan, a significant portion of your hard-earned assets can be lost due to taxation.  

3. Minimize family feuds. When you do not leave behind an estate plan that details your wishes, your surviving family members may end up fighting one another in court over inheritance matters.  

4. Avoid intestate succession. According to the American Bar Association, if you die intestate, the intestate succession laws in your state will determine who receives your property by default.  

5. Protect your loved ones. Estate planning is not just about distributing your assets, it is also about making the necessary arrangements to protect your loved ones when you are gone.  

Life can be unpredictable, which is why any person who is over the age of 18 can benefit from having an estate plan in place. Estate planning can provide comfort in knowing that your assets will be distributed according to your wishes and that your loved ones are taken care of. 

Estate Planning Documents

A comprehensive estate plan may consist of the following documents: 

• Last Will and Testament. This document allows you to express your final wishes, outline how you want your assets to be distributed, select the executor of your estate, and name guardians for your minor children, among other things.  

• Trust. With a trust, you can control property during your life and after you are gone. No probate is necessary for property held in the deceased person’s trusts.  

• Health care power of attorney. With this document, you can appoint a person who would make decisions regarding your health care when you are not able to do so yourself.  

• Financial power of attorney. As the name implies, this document is created to appoint a person who would make financial decisions on your behalf if you become incapacitated.  

• Advance directive. An advance directive is a legal document that allows you to specify your wishes for end-of-life care ahead of time.  

As an estate planning attorney in Los Angeles, California, Rodney Gould has helped numerous clients draft these and other documents to ensure that their assets are protected, their legacy is preserved, and their families are taken care of.  

How an Attorney Can Help

Here are some of the benefits of working with an estate planning attorney: 

• You can be confident that your documents are valid and up-to-date. 

• You can learn about the ways to avoid the expensive and lengthy probate process. 

• You will know all of your legal options on how to protect your assets and family. 

• You will avoid costly and potentially devastating mistakes. 

• You can learn about the ways to reduce your tax liabilities. 

• You will have peace of mind knowing that your affairs are in order. 

Whether your estate is large, medium, or small, Rodney Gould can work with you to help you set up an estate plan that addresses your concerns and fits your unique circumstances.