Frequently Asked Questions

What is an estate plan?

A person’s “estate” consists of all of their belongings…home, savings, accounts, etc.
An estate plan is an arrangement made during the lifetime of an individual, in preparation for their healthcare and financial future, the future of their children, their death and the management and distribution of their belongings.
  

What is a Will?

A Will is a legal document prepared during the lifetime of an individual, appointing an Executor to manage the distribution of the assets according to the instructions of the Will.  Contrary to popular belief, a Will does not protect against Probate.  Wills are public, and generally does not protect against creditors and/or minimize gift or estate taxes.  It is important to seek the advice of an estate planning attorney to determine whether a Will is the best solution for your estate planning needs.

What is a Revocable Living Trust?

A Revocable Living Trust is a legal document made during the lifetime of an individual (Trustmaker) whereby ownership of property is transferred and held by the trust. The trust can be named as the beneficiary in certain situations.  A trust provides instructions for the distribution of belongings and may include conditions.  The Trustmaker can remain in control of his/her/their own trust during their lifetime.  Trusts are private, generally avoids probate and may be created to protect against creditors, predators and/or minimize gift or estate taxes.  

Aren’t Living Trusts only for “the rich”?

NO! This is a very common misconception about estate planning.  Trusts are for just about anyone who cares about their family and loved ones.  The cost of NOT having a Trust is extraordinary compared to the cost of getting one.  You don’t have to be a millionaire to have a Trust, but having a Trust will make you feel like a millionaire.

Can same sex married couples and registered domestic relationship couples prepare Joint Living Trusts?

Yes, California does recognize joint trusts created by same sex married couples and registered domestic partners.

How can I protect the security of my children’s future?

Planning for a minor child is crucial.  Unexpected incapacitation and death can occur at any given moment.  Guardianship planning gives the parents the opportunity to name who they would choose to raise their children if they are not able to do so themselves.  Planning can prevent the court from assigning a guardian who otherwise may not be the parent’s choice. When choosing an attorney to hire, be wary of gimmick packages that are overpriced and include unnecessary items.  

What is incapacity and why is planning important?

Incapacity is the inability to make a medical or financial decision for oneself, due to mental or physical disabilities or illnesses.  Accidents and illnesses can happen unexpected, for example a car accident or dementia.  Planning for incapacity will prevent living probate (the court process to appoint a conservator to make decisions for you) and allows the planner to name who they want to make medical and financial decisions for themselves.  

What is a Gun Trust?

The transfer of firearms and accessories must be properly completed in accordance with Federal, State and local laws.  Firearms that are not properly transferred may subject the transferor and recipient to criminal charges.  By properly planning a transfer of firearms and accessories, firearms can avoid the pitfalls of improper transfers. It is important to seek the advice of an estate planning attorney for proper planning of the transfer of firearms and accessories.

What is Probate?

Probate is the court process to appoint a personal representative, who will be responsible for the gathering and valuation of a deceased person’s assets, determine heirs, pay creditors, and manage the distribution of the estate. The cost of probate is set by statute which is based on the value of the decedent’s estate. The length of time for probate varies from case to case and is based on the jurisdiction.  It generally lasts 12-18 months. 
Probate costs are usually tens of thousands of dollars, which is generally paid by the deceased person’s estate, before the beneficiaries receive their distributions.

How do I put a house into my Living Trust?

A Living Trust needs to be funded with assets, which means the ownership/title of the asset needs to be transferred to the Trust.  When putting a house into a Trust, it is important to have the Deed properly prepared.  J. Henderson Law can help get your Trust funded with your house.

How much does an estate plan cost?

The cost of an estate plan will vary depending on the needs and goals of the client, and is based on a flat fee, with no surprises.  Packages are available, so that you know exactly what you are receiving.  Book a consultation today to find out how much you can save by planning with J. Henderson Law.

Can an estate plan be prepared virtually?

Absolutely!  Virtual planning is convenient and safe for everyone.  Advances in technology allow us to speak by phone and meet by video conference.
In person planning is also available at the office, by appointment only, at 255 Maple Court, Suite 120, Ventura, California 93003.
Arrangements may be made in advance to complete an estate plan in person at your home if necessary, upon request and depending on availability.  A travel fee may apply.
Please call for more details.

How much does a Consultation cost?

Consultations are 15 minutes and no-cost.  Please complete the intake form before the consultation so that I may assist you as best as possible during our 15-minute meeting. 
All consultations are with attorney, Jessica Henderson. 
A consultation does not in any way create an attorney-client relationship.