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A basic estate plan in California will typically include the following documents for you and your spouse: escondidoprobatelaw com escondido probate attorney A Personal Residence Trusts,or QPRT for short,is a special type of irreversible trust that is designed to eliminate the value of your main residence or a second house from your taxable estate at a minimized rate for federal gift tax and estate tax purposes.
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A durable power of Attorney merely suggests that the document stays in result if you become incapacitated and unable to handle matters by yourself escondidoprobatelaw com probate lawyer escondido A financial planner or professional and an estate planning attorney can help you design a plan that works for your circumstances.
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A Trust is unfunded and property remains outside of the Trust’s intended protection from the probate process.