Estimating the duration of the estate planning process

The amount of time it takes to create an estate plan varies amongst individuals. Every quality estate plan starts and ends with customizations tailored to your legacy. Planning and preparation entail adequate time. Sometimes the first steps can take the longest. A living trust package is an important and complex aspect of a proper estate plan. A living trust package includes the following essential documents and more:

  • Revocable living trust – The type of trust ensures that your legacy is passed on to the right people, in the correct amounts at the appropriate time.
  • A pour-over will – A pour-over will allocate any left-over property and assets to your family and loved ones after you are gone.
  • Durable power of attorney – A power of attorney is a document that allows an individual to make important legal and financial decisions on behalf of another person. California’s power of attorney laws can be found in sections 4000 through 4545 of the California Probate Code.
  • Health care directives – Advanced health care directives ensure your medical wishes are met in the case you are unable to communicate them yourself.

A list of legal documents will be the base of your estate plan. Obtaining the documents and scheduling times with witnesses can take a few weeks up to a few months, so it may be wise to set aside a reasonable amount of time. In addition to the completion of documents, a wealth transfer plan can be a successful supplement in helping heirs manage money in the future.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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