​As part of my estate planning services I encourage people to consider prearrangement for their funeral services.  This is a gift to your loved ones in the truest sense of the work. Knowing your wishes for your final resting place removes a burden and allows your loved ones to remember you without wondering what exactly your wishes may have been.
 
4 Reasons to Preplan:

• You can take more time to decide what you want
• You get to make the choice on how you want to be remembered
• It takes the burden off your family and friends
• It gives you the choice of pre-paying

Many times people don’t want to think about their funeral services, so they put this important part of preplanning off, thinking they will get to it next month or next year. This leaves your loved ones at risk of having to make these decisions when they are grieving.
 
Can you answer these questions?

• Do you know where to start when it comes to making arrangements for your last wishes and what your preferences?
• Do you know what is necessary and what isn’t when it comes to final arrangements? 
• Did you know that most funeral homes are owned by large, for profit corporations? 
• Do you have the important documents organized and accessible that your loved ones will need if you become incapacitated or die unexpectedly?

 
If you want to know the answers to these questions and how to get started
We have a helpful and free helpful E-Planning Guide

This guide is from a local business, Cochrane and Wagemann Funeral Directors 
The guide will walk you through the Preplanning Process and includes helpful checklists along with forms for vital information.  
 
Consider a family owned community focused funeral establishment an individualized and meaningful tribute to you and your loved ones.

For more information on Estate Planning and Trusts, contact The Law Offices of Colleen J. Watters
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There comes a time in our lives when we must think of family who will survive us and for many of us, that includes our pets and our animals. Many of us are horse owners, and although horses are not known to be 'pets', they are beloved family members none the less. As responsible horse owners, we know they trust us to provide for their complete care. From shoes and proper feed to exercise, vet visits and even euthanasia, our horses are no different than our other family animals. Those of us who cherish our animals as members of the family will do what it takes to make sure they are loved and cared for their entire lives.
 
The care of a horse includes specific needs which must be addressed properly to assure uninterrupted and continued good health and happiness. I recommend working with an estate planning attorney who is familiar with the animal's needs, especially those circumstances that come with horse ownership. I am honored to be one of those attorneys. Through my wide experience in this area, I am able to offer guidance and suggestions for the unique situations that come with being the guardian of all types of animals. I am honored to assist people in assuring the needs of their horse(s), and all other animals that depend on their care, are properly provided for in a comprehensive estate plan (Revocable Trust, Will, Durable Power of Attorney).
 
Providing for your pets doesn’t necessarily require a separate Pet Trust, but you do have to state your wishes specifically. If you wish to learn more about ensuring lifetime care of all your pets, including your precious horse(s), please contact my office. I look forward to serving you and your pets.

The scenario - A client lists property with you that was owned by a decedent who did not have a trust, but your client fails to tell you that they have not opened probate on the estate. You have a buyer for the property, have scheduled a 45 days escrow, and realize that your client does not have authority to sell the property.

What next? Generally, it will take at least 4-5 weeks after filing the Petition for Probate with the court before the first hearing will be scheduled. If all goes as planned (there are often issues that arise to prolong the process) the personal representative will receive Letters Testamentary at that hearing, giving them the authority to sell the property.

The next step is to file a Notice of Proposed Action, noticing the court and all beneficiaries with the details of the sale. A fifteen day notice period is required before the sale can be completed. 

This entire process can take up to 8 weeks to complete, which means your 45 day escrow is blown and the possibility of losing the buyer becomes a very real issue.

You can petition the Court to grant a Special Administration, issue letters with limited authority to the petitioner, allowing the sale to proceed. Generally, a Special Administration is requested for urgent matters. In this instance, you can claim preservation of the estate as the reason for the court to grant the Special Administration. The court could rule that the failure to open a probate before listing the property does not rise to the required level of “urgency’ for a Special Administration. 

When listing a house of a decedent, always determine if the house is titled to a trust or if a probate must be opened before the house can be sold. You will save yourself and your client from experiencing the delay of probate at a time when you cannot afford such a delay; not to mention the added expense of filing a Special Administration petition in addition to the standard Probate petition.

I recommend anyone that purchases a home create a trust which, if drafted correctly, will allow for avoidance of the probate process all together.

Probate Fees in California:

Probate fees are set by law [Probate Code Section 10800]   as follows:

            4% of the first $100,000.00                          

            3% of the next $100,000.00                          

            2% of the next $800,000.00                          

            1% of the next $9 million                             

            1/2% of the next $15 million             

Beneficiary designations are an important part of your estate plan and must be monitored regularly.  Designations on retirement accounts, investments, and life insurance are the most common forms that people will encounter. But, there are many assets that can be transferred via beneficiary designation.  Multiple beneficiaries can be named with a designated percentage to each.  Charitable donations can be made using this method and may result in tax incentives.  You need to fully understand the process to be sure distribution to a beneficiary fulfills your intent and protects the gift from being squandered or collected by a creditor of the beneficiary.