Estate Planning Los Angeles

Contrary to popular belief, estate planning is more than just about what happens after you die. Estate planning is the process of planning for your personal financial and medical issues while you’re alive, and transferring your property efficiently after you die. It is a comprehensive plan that takes care of your interests in the case of an accident, injury, or other situation where you are no longer able to care for yourself and that directs the disposition of your assets following your death. It is to take care of you, your family, and your business. An estate plan ensures that your interests are protected and that your financial goals are met.

A will is a legal document explaining the person’s wishes regarding the treatment of their property when they die. I call this the “instructions manual” for the dead. This instructions manual tells people how you would like your property to be passed down and to whom. However, be careful since all Wills go through probate court before they are validated by a judge. Just because you have a will does not mean that your wishes will be granted! It is recommended tha you also use a trust.

Think of the revocable trust as your personal lock-box. The assets that you place into this lock-box are protected from probate court and public information once you pass away. It will also save your beneficiaries on probate costs and heartache. Inside of this lock-box you would place your “instructions manual” (Will) which describes how you would like your assets to be treated once you are gone. The term “revocable” means that you can always change your decisions, as long as you are alive.

The financial power of attorney is a legal document that gives limited (or unlimited) financial powers to someone who you designate. It is a very powerful tool while you are alive. In the case that you may be incapacitated or unable to make sound financial decisions for yourself this form allows someone of your choosing to make financial decisions on your behalf.

Similar to the financial power of attorney, the healthcare power of attorney gives decision making ability to someone of your choosing, regarding your medical decisions. This is used in the case where you are unable to make decisions on your own. It allowes for doctors to deal with a single point of contact when it comes to making important medical decisions.

Other important tasks in estate planning:

  • Re-titling accounts so they do not get taxed upon death
  • Creating/updating beneficiaries on plans such as life insurance, IRAs and 401(k)s
  • Setting up funeral arrangements
  • Establishing annual financial gifts to reduce estate taxes
  • Establishing a guardian for living dependents

Download The Estate Planning Scorecard!


Sam Rad is a Certified Financial Planner in Beverly Hills, who uses a multidiciplinary approach in helping people solve their financial obsticles, from estate planning to retirement. Sam has multiple licenses in the investments, real estate and insurance fields, and he teaches classes at UCLA. He helps consumers identify estate planning techniques which maximize their wishes but minimize any costs and expenses. Sam has saved millions of dollars in estate and capital gains taxes for his clients. He works with a specialized group of estate planning lawyers including Mr. Edmund Vincent who can draft the will and trust documents once he has designed the estate plan for each client. Contact him for a free estate planning consultation. Read More…