Diana Redding: Estate Attorney Tips

We recently sat down with Diana Redding, our AST network estate attorney to talk about important steps to protect your legacy and your family, especially during COVID-times. Diana has been practicing law for over 15 years in Alameda and became a solo practitioner in 2017.

Diana had several recommendations for us!

First, she recommends confirming that your Power of Attorney and Advance Health Care Directive documents are in place and are up to date. So many people assume that their spouse and children can automatically make these sensitive and sometimes heart wrenching decisions. Unfortunately, that’s not the case. If someone becomes incapacited and they do not have these documents in place, a Conservatorship in Probate Court will have to be established to appoint someone to make these important decisions. If no one acts, then the local county agency (Public Guardian) could be appointed. A Conservatorship is an expensive and cumbersome process.

Next on her list was a reminder of how expensive Probate fees can be if there is no Trust in place. A Will does not avoid Probate, therefore a Trust must be in place. The Probate Code provides a statutory attorney’ fee schedule based upon the value of the Estate. For a $200,000 Estate the attorney receives $7,000 in fees and the Personal Representative of the Estate also receives $7,000 in fees. The cost for a Trust is a fraction of those fees at approximately $1500-2500 depending on if the Trust and related documents are for a couple and also on the complexity of their Estate Planning needs. In addition, the challenges are not just with the fees involved but also the amount of time to settle the estate. Before COVID, the timelines could extend beyond a year in Probate Court and of course, COVID is delaying the court schedules even more!

Finally, Diana mentioned how important a Trust can be for blended families. Many of her clients are in second marriages and have children from previous relationships. She provides advice and prepares documents for splitting the trust so that both your spouse and your children are treated per your wishes.

Diana’s office has set up several COVID protocols and upgraded their air filtration system so that meetings and document signings are done as safely as possible. If you’d like to schedule a meeting with Diana to have your Estate Plan prepared or update existing Estate Plan documents, please contact her at: (510) 426-8744​ or via email at: diana@dianareddinglaw.com