Dana Flanagan-McBeth Law Firm - Estate Planning, Wills & Trusts

General Estate Planning

Estate planning is the process of organizing and arranging for the management and distribution of your assets in the event of your incapacitation or death. It ensures your assets are distributed according to your wishes, minimizes taxes and legal expenses, and helps prevent disputes among family members. With over 24 years of experience in litigation, tax, and business law, I help California families create comprehensive plans that protect their legacy and provide peace of mind for both Northern and Southern California clients.

A will is a legal document that specifies how your assets should be distributed after your death and allows you to name guardians for minor children. However, wills must go through probate in California, which can be costly (4-7% of estate value) and time-consuming. A revocable living trust holds your assets during your lifetime and distributes them upon death without probate, providing privacy, faster distribution, and significant cost savings. Most comprehensive estate plans include both documents working together.

Absolutely. Estate planning isn't just for the wealthy—it's essential for anyone who wants to protect their family and ensure their wishes are followed. Even modest estates benefit from avoiding California's expensive probate process, which has a minimum threshold of $184,500. Additionally, estate planning includes important documents like healthcare directives and powers of attorney that protect you during incapacity, regardless of your asset level.

You should review your estate plan every 3-5 years or after major life events such as marriage, divorce, birth of children, death of beneficiaries, significant changes in assets, or moving to a new state. California laws change periodically, and your plan should reflect current regulations and your evolving circumstances. As someone who has practiced statewide for nearly 27 years, I help clients keep their plans current and effective.

California Trusts

California revocable living trusts offer numerous advantages: avoiding the costly probate process (which can cost 4-7% of your estate), maintaining privacy (trusts aren't public record like wills), providing for incapacity management, enabling faster asset distribution to beneficiaries, and offering more control over how and when beneficiaries receive assets. For California homeowners, trusts are particularly valuable for protecting and efficiently transferring real estate to heirs.

The cost typically ranges from $2,000-$4,000 for a comprehensive living trust package, depending on the complexity of your assets and specific needs. While this may seem significant upfront, it's important to consider that California probate fees can cost 4-7% of your total estate value. For a $500,000 estate, probate could cost $26,000 or more, making a trust a wise investment that often pays for itself many times over.

A revocable trust can be modified, amended, or revoked by you during your lifetime, providing maximum flexibility. It becomes irrevocable upon your death or incapacity. An irrevocable trust cannot be changed once established and removes assets from your taxable estate, potentially providing tax benefits and creditor protection. The choice depends on your specific goals—revocable trusts offer control and flexibility, while irrevocable trusts provide tax advantages and asset protection.

Funding your trust means transferring ownership of your assets (real estate, bank accounts, investments) into the trust's name. This is crucial—an unfunded trust is essentially useless and won't avoid probate. I guide clients through the funding process, including preparing new deeds for real estate, changing account titles, and updating beneficiary designations. Proper funding ensures your trust works as intended to protect your family's inheritance.

Special Needs Planning

A supplemental needs trust (also called a special needs trust) is designed to benefit individuals with disabilities while preserving their eligibility for government benefits like SSI and Medi-Cal. These trusts are essential for families with disabled members, as they allow you to provide additional financial support without jeopardizing crucial public assistance. With California's resource limits typically at $2,000 for SSI recipients, these trusts enable families to enhance their loved one's quality of life while maintaining benefit eligibility.

A third-party special needs trust is funded by family members (parents, grandparents) and is the preferred option because it doesn't require payback to the state for Medi-Cal benefits upon the beneficiary's death. A first-party trust is funded with the disabled person's own assets (inheritance, settlement) and must include a payback provision to reimburse the state. Proper planning with third-party trusts can save families significant money and preserve more assets for future generations.

California Probate

Probate is a court-supervised process that validates your will, pays debts, and distributes assets. California has one of the most expensive probate processes in the U.S., with statutory fees of 4% of the first $100,000, 3% of the next $100,000, 2% of the next $800,000, and so on. These fees apply to both the attorney and executor, plus additional court costs. For a $1 million estate, probate fees alone could exceed $46,000, not including additional costs for appraisals and court filings.

California probate typically takes 12-18 months minimum, but can extend to several years for complex estates. Even simple probates rarely close in less than 10-12 months due to mandatory waiting periods for creditor claims and court scheduling. This delay means beneficiaries must wait to receive their inheritance, often during a time when they need financial support most. A properly funded trust avoids this delay entirely.

Yes, there are several strategies to avoid probate: creating a funded revocable living trust (the most comprehensive solution), using payable-on-death (POD) and transfer-on-death (TOD) designations for accounts, holding property in joint tenancy, and utilizing California's small estate procedures for estates under $184,500. As of 2025, California also increased the threshold for real property transfers to $750,000 for primary residences, providing more options for modest estates.

Powers of Attorney & Healthcare Directives

A durable power of attorney for financial matters allows your chosen agent to handle your financial affairs if you become incapacitated—paying bills, managing investments, and making financial decisions. A healthcare power of attorney (part of an advance healthcare directive) allows your agent to make medical decisions on your behalf. Both are essential components of estate planning, as incapacity planning is just as important as planning for death.

Without proper incapacity planning, your family would need to petition the court for a conservatorship, which is expensive, time-consuming, and public. The court would appoint someone to manage your affairs, and this person might not be who you would have chosen. Conservatorship proceedings can cost thousands of dollars and require ongoing court supervision, making advance planning with powers of attorney and healthcare directives essential.

Estate Taxes & Asset Protection

California doesn't impose a state estate tax, but federal estate tax applies to estates exceeding $13.61 million per person in 2024 (adjusted annually for inflation). However, this exemption is scheduled to decrease to approximately $7 million per person in 2026 unless Congress acts. Even if you're below these thresholds, proper planning can minimize income taxes for beneficiaries and maximize the wealth transferred to your heirs.

Asset protection strategies include creating LLCs for business and real estate holdings, utilizing certain types of irrevocable trusts, maintaining adequate insurance coverage (including umbrella policies), and proper estate planning structures. With my background in business and litigation, I help clients implement comprehensive asset protection strategies that legally shield wealth while maintaining access to assets during their lifetime.

Trust Administration & Trustee Removal

Trustees have a fiduciary duty to manage trust assets prudently, follow trust terms, provide accountings to beneficiaries, and act in the beneficiaries' best interests. When trustees fail in these duties—through mismanagement, self-dealing, or failure to communicate—beneficiaries can petition the court for trustee removal. With my litigation background, I help beneficiaries protect their interests and ensure proper trust administration.

Select someone who is financially responsible, trustworthy, organized, and willing to serve. Consider naming a successor trustee and even co-trustees for checks and balances. Options include family members, friends, professional trustees (banks or trust companies), or a combination. The trustee should understand their responsibilities and be able to manage the complexity of your specific trust. I help clients evaluate their options and structure trustee succession plans.

Getting Started

Begin by scheduling a consultation to discuss your goals, family situation, and assets. I offer free 15-minute consultations to help you understand your options. During our meeting, we'll review your current situation, discuss strategies that fit your needs, and create a timeline for completing your estate plan. With my statewide California practice and decades of experience, I provide personalized guidance whether you're in Northern or Southern California, ensuring your plan protects your family's future and preserves your legacy. Contact the Dana Flanagan-McBeth Law Firm today at (916) 709-8468 or email danaflanaganmcbeth@gmail.com to schedule your free consultation.

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Frequently Asked Questions

General Estate Planning

What is estate planning and why do I need it?

What's the difference between a will and a trust?

Do I need estate planning if I don't have significant wealth?

How often should I update my estate plan?

California Trusts

What are the benefits of creating a revocable living trust in California?

How much does it cost to create a living trust in California?

What's the difference between revocable and irrevocable trusts?

How do I fund my trust and what happens if I don't?

Special Needs Planning

What is a supplemental needs trust and who needs one?

What's the difference between first-party and third-party special needs trusts?

California Probate

What is probate and how much does it cost in California?

How long does probate take in California?

Can I avoid probate in California?

Powers of Attorney & Healthcare Directives

What's the difference between financial and healthcare powers of attorney?

What happens if I become incapacitated without these documents?

Estate Taxes & Asset Protection

Do I need to worry about estate taxes in California?

How can I protect my assets from creditors and lawsuits?

Trust Administration & Trustee Removal

What are a trustee's responsibilities and what happens if they're not fulfilling their duties?

How do I choose the right trustee for my trust?

Getting Started

How do I get started with estate planning and what should I expect?

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