Videos

Get answers to your estate planning questions with our video resources.

We have found some of our clients are more visually oriented and prefer to actually see estate planning material instead of reading about.  At the Steven M. Greenwood, P.C. law firm, we have created a number of short, but informative, videos for you to review on a variety of subjects.  Below are highlights and links to these presentations.  And, at any time, if you have questions, feel free to contact us.

 

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Who needs an estate plan?  Virtually everyone needs an estate plan.  It allows control of what you have while you are alive and well, plans for any incapacity, outlines how, when, and to whom your assets will be distribute at your death, ensures long-term protection for your family and property, and keeps you off the “Government Plan.” 
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Are you on the “Government Plan?”  This is the government’s default plan for you, if you have not set up an estate plan of your own, even if you have created a will, hold property in joint tenancy or use beneficiary designations, you are also on the “Government Plan.”  In essence, your family loses control to the Probate Court.  This complicated, time consuming, public, and expensive process can easily be avoided with the proper planning.
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What makes an effective personal estate plan?  The first part of a good estate plan is preparing for the possibility of incapacity by creating Advance Health Care Directives, Durable Powers of Attorney for Financial Matters and Health Care, HIPAA Directives, and a Living Will.  The second part of a good estate plan is preparing for the inevitability of death.  This includes the creation of your Living Trust for the management and distribution of assets to protect your spouse, children and grandchildren against creditors, lawsuits, divorce, predators, bankruptcy, inadvertent disinheritance, and more.
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What are the basics of a living trust?   If you own real estate or have assets in excess of $150,000, a living trust is a good planning tool to avoid the dreaded “Government Plan” (probate), which is costly, complicated, public, and time consuming.  Even though the living trust can help avoid probate, unnecessary estate taxes, and asset distribution going directly to your heirs, further, important protections are available under a “Life Plan.”
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What is a “Life Plan?” A Life Plan covers the basics involved in protecting your children, spouse, and grandchildren, should you become incapacitated or die.  Issues of most concern are potential lawsuits, risk of bankruptcy, risk of inadvertent disinheritance, protection in the event of your child’s divorce, transfer of assets to grandchildren, tax-free money and growth of asset value for your grandchildren, and young adults handling their inheritance, if both spouses are gone.  A Life Plan will address all of these areas.
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Is your estate plan creation penny wise and pound foolish?  You can go online and find templates and standard forms to establish some of the basic documentation you need, but the “one size fits all” approach can be a disaster to your estate and your loved ones.  Find a good, experienced law firm such as Steven M. Greenwood, P.C. which limits its practice to estate planning, trust administration, asset protection, and business succession planning and is priced very competitively.
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How urgent is the completion of my estate plan?   When it comes to estate planning, most people procrastinate or just don’t want to deal with their mortality.  They put off planning their estates.  Unfortunately none of us can predict the day we will become incapacitated or die.  Regardless of your age, delaying the completion of your estate plan can be very costly to your family and other beneficiaries.
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What happens if there are changes in my estate plans?  One constant in life is that there will be changes.  Whether government imposes new laws or our family grows or our financial picture is altered or our health takes a turn, we must address these issues on an ongoing basis to ensure our estate plans are current and we effectively deal with the realities of life. We should have annual reviews, regular communication with our estate planner, and a program such as Docubank that allows access to our health care information anywhere in the world, 24 hours a day, seven days a week.

Wealth Counsel

Wealth Council

Docubank

Docubank

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Steven M. Greenwood, P.C.
2801 Townsgate Rd., Ste. 210
Westlake Village, CA 91361

805-277-5020 - Phone
805-277-5021 - Fax
info@CAestatelaw.com

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