At the Law Office of Barbara J. Dibble, we provide California residents with estate planning services to prepare them for the day when — heaven forbid — a calamity strikes and they are mentally or physically incapacitated and unable to make decisions for themselves. Our estate planning services also create an action plan for what will happen in the event of an unexpected death. We take great pride in offering specially catered plans that address the specific and varying needs of our clients.
Still, a lot of California residents think that their situations are unique and there is no way that an estate plan could adequately address their needs. This is simply not true. To illustrate the malleable nature of estate planning, take a look at the following different circumstances to see how estate planning can help.
Let’s say a family has an adult child with a substance abuse or gambling problem. Getting a sudden influx of cash as an inheritance could be very dangerous for this person. For these parents, a special trust could be structured in a way that does not provide the at-risk child with all the money at once, but doles it out in tiny increments to help the child with living expenses or psychological services. It still shows the parents care.
Here’s another scenario that involves an older, recently married couple. Perhaps two people lived together for decades and now they want to get married, but they are not sure how this will affect their biological children’s inheritances. Firstly, the spouses might want to the new spouse to inherit their assets instead of their children. In these cases, an estate plan can also be devised to protect the inheritances of biological children.
Estate planning is not a cookie-cutter solution. Each one needs to reflect what the specific person requires. At the Law Office of Barbara J. Dibble, we create specially catered estate plans plan to suit our clients’ varying needs.