“Your source for Trusts, Wills, Probate, Family Law & more”
By Stephen C. Ross, Esq.
February 17, 2013 (San Diego County) – I often talk with people who believe estate planning is only for the wealthy. However, even people with few assets may benefit from proper estate planning.
You may be subject to formal probate proceedings if the gross real and personal property value of your estate exceeds $150,000 and you do not have a revocable trust. A properly prepared power of attorney for health care may avoid the need for a costly conservatorship proceeding if you subsequently lack capacity to make your own decisions. A power of attorney may avoid a conservatorship proceeding and ensure that a person you trust is ready to handle your financial affairs if you become incapacitated.