Escondido CA 92025 Tel: 760-796-4030 Fax: 760-751-2767
Probate Law
What is Probate? A Court supervised procedure that authorizes the transfer of assets in the name of the decedent, after the debts are paid.
What does it cost? The cost is based on the gross value of the estate.
How long does it take? It can take anywhere from 9 months to 2 years - sometimes longer depending on the complications of the estate.
Will
A Will is a way to ensure that your property will go to the relatives, friends and organizations you care about the most.
Without a Will, the state will decide how your assets will get distributed. This will occur without consulting anyone or considering the special needs and financial circumstances of your particular situation.
Many of us tend to procrastinate when it comes to making a Will. But preparing your Will now will provide security and peace of mind that your wishes will be carried out.
A Will lets you choose an executor who you feel is capable of settling your estate. If you do not appoint an executor, the Court will appoint an administrator for you upon your death. Court appointed administrators are limited in their actions by the laws of the jurisdiction where they are appointed. In addition, they will require court authorization and supervision, in order to sell, manage or lease property. The costs associated with the proceedings, for court authorization or approval, are paid out of the estate.
Trusts
A living trust can be one of the most beneficial methods of holding and transferring property. Not only does a living trust provide for property disposition of your assets or death, it also provides for you during your lifetime, should you become incapacitated. There are unlimited uses for trusts. Anyone who cares enough to plan for the future must consider the many ways that trusts can benefit those you care about most.
Living trusts are fully revocable. You can change or terminate them at anytime during your life.
Do I still need a Will if I have a Trust? Yes, A "Pour-Over" Will ensures that all property is transferred to your beneficiaries, even if an asset is not transferred to your trust during your lifetime. The Will is called "Pour-Over" because it "pours" assets over into the trust.
POUR-OVER WILL
Along with the Living Trust, A Pour-Over Will is prepared. If all assets are titled in the name of the trust, a will is not used at the time of death. However, a Pour-Over Will should be executed along with a trust, in case an asset is inadvertently omitted from the trust. The Pour-Over Will states that any property not titled in the trust should be transferred to the trust. That way, the assets left out of the trust will be distributed with the trust plan.
Law Office of Jennett Maniscalco
Jennett Maniscalco
144 East Washington Avenue
Escondido, CA 92025
Business: 760-796-4030
Fax: 760-751-2767
jennet@maniscalcolaw.com
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