The Shaka Spirit
We adopted the shaka hand gesture as our namesake because we believe attorneys should give great legal advice and be easy to talk to.
How Can We Help?
Prepare your estate plan and other legal documents with confidence. All from the comfort of home.
Estate Planning Essentials
Success starts with a good plan! Ensure a secure future for your loved ones with our Estate Planning Essentials package, which includes a revocable trust, pour-over will, advanced healthcare directive and power of attorney.
Memoir Manuscript
Your story is a priceless part of your legacy. Our Memoir Manuscript service connects you with a skilled ghostwriter who will help you craft a book that reflects your unique voice, captures your most cherished memories, and thoughtfully imparts your wisdom to future generations.
Trust Administration
Losing a loved one is hard. Following the instructions in their trust shouldn't be. Our comprehensive Trust Administration Program equips family members with the essential tools and guidance needed to fulfill their responsibilities as trustees effectively and with assurance.
Strategic Tax Planning
You work hard to make your money. We help you keep more of it. Our attorneys are well-versed in estate tax laws and strategies that help minimize your tax burden while maximizing asset protection.
Business Formation & Maintenance
Focus on growing your business while we handle the intricacies of paperwork and compliance. Our Business Formation & Maintenance services help you set up your company and ensure it remains compliant with all ongoing legal requirements, allowing you to concentrate on what you do best—driving your business forward!
Frequently Asked Questions
What is estate planning and why is it necessary?
Estate planning is the process of preparing legally enforceable documents (such as a trust or will) that specify how your assets (such as money and property) will be handled during your life and after your death. Estate planning is necessary because it ensures your assets go to the right people, helps reduce legal fees, and makes things easier and clearer for your family in the event of your death or incapacity.
What is a revocable trust and do I need one?
A revocable trust is similar to a will in that both documents specify who will inherit your assets when you pass away (the "beneficiaries") as well as who is responsible for carrying out the terms of the trust (the "trustee"). Unlike a will, however, trusts can generally be administered without going through court. This means your beneficiaries can receive their inheritance more quickly, more privately, and more cost-effectively. Ultimately, whether you need a revocable trust depends on your goals, but a trust-based estate plan is typically the best option for individuals and families with more than $200,000 in assets.
What happens if I die without a trust or will?
If you die without a trust or will, your assets will be distributed according to state intestacy laws. These laws decide who will inherit your assets, which may or may not be in line with your wishes. The intestacy process can be lengthy, costly, and may cause conflicts among family members. Moreover, failing to appoint a guardian for minor children can lead to uncertainty and potential legal battles over their guardianship, adding further stress and complexity for your children during an already difficult time.
What documents are included in my estate plan?
The primary documents in the Estate Planning Essentials include your:
- Revocable Living Trust: Serves as the centerpiece of your estate plan. It holds your assets during your lifetime and specifies who will inherit them after your death, bypassing the costly and time-consuming probate process. You can change or revoke this trust at any time.
- Pour-Over Will: Works in conjunction with your revocable trust by directing any assets not already in the trust at the time of your death into it. This document also allows you to name guardians for any minor children and can include specific instructions for your funeral and final arrangements.
- Durable Power of Attorney: Authorizes someone you trust to manage your financial affairs if you become incapacitated, ensuring that your finances are taken care of without court intervention.
- Advance Healthcare Directive with HIPAA Release: Allows you to specify your healthcare preferences should you become unable to make medical decisions yourself. This directive also appoints someone to make these decisions on your behalf and includes a HIPAA release, permitting designated individuals to access your medical records for making informed healthcare decisions.
Can I prepare my own estate plan?
While you can write your own trust or will, it is highly advisable to work with an experienced estate planning attorney. Trusts are complex legal documents that require specific language and precise structuring to ensure they function as intended and comply with state laws. An attorney can also help you understand the different types of trusts available and determine which type best suits your needs and goals. Crafting a trust without professional guidance can lead to mistakes that might render the trust invalid or ineffective, potentially resulting in legal disputes or unintended consequences for your beneficiaries.
How often should I review my estate plan?
It is important to review your estate plan annually to account for any major life changes such as marriage, divorce, the birth of a child, or a significant change in your financial status. At Shaka Law, we offer a complementary annual check-in for all active clients to ensure that your estate plan accurately reflects your current wishes and circumstances. This service helps maintain the effectiveness of your plan, keeping it aligned with your goals and the needs of your loved ones.