Mission Viejo consists mostly of residential property, although there are various offices and businesses. The city is considered suburban, and it’s a commuter city located in Orange County, California, within the Saddleback Valley. It’s one of the largest master-planned communities in the county..
The most recent United States Census reported that Mission Viejo has a population of 93,305 with a population density of 5,148.3 people per square mile. 99% of the population lives in households.
Out of the 33,208 households in Mission Viejo, 35.4% had children under the age of 18 living in them, 62.5% were opposite-sex married couples living together, and .7% were same-sex married couples or partnerships. The average household size is 2-3 people. There are a total of 25,065 families within the city, making up over 75% of all households. The average family size is 3-4 people.
The median age for residents is 42.2 years old, and for every 100 females, there were 95.4 males.
There are over 34,000 housing units, and 77.9% are owner-occupied while the remaining 22.1% are occupied by renters.
Mission Viejo has a median household income of $96,088. Employment rates in this city continue to go up with many residents working in professional, scientific and technical services, manufacturing, healthcare and social assistance. The highest paying jobs in the area are utilities, wholesale trade, and management of companies and enterprises. Read more about mission viejo estate planning attorney.
Estate planning is the process of outlining a legal plan that will determine what happens to your assets after you die. It includes several legal documents, including a will, that allocate your property and make plans for all of your assets.
Having an estate plan is one of the best ways you can prepare for the future and protect your family from a lengthy legal process. It also ensures that your final wishes are carried out, from the distribution of assets to funeral plans.
People sometimes put off estate planning because it doesn’t feel like a pressing need, especially if they are young or don’t have a huge estate. However, an estate plan will make things much easier for your family in the event of your death.
An estate plan provides a clear legal guideline that can be legally carried out. Without one, your estate will have to spend some time in probate court. Going to court will take time and may rack up expensive legal fees. It’s one more inconvenience for a grieving family to deal with.
If you have children under the age of 18, your estate plan will also include guardianship designations. This is where you can specify who you want to become the legal guardian for your children if you pass away. It’s an important decision, and this document makes sure it isn’t left up to chance.
Without a guardianship designation, the state will be left to make the decision on your behalf. Though judges take care making their decisions, they may not end up choosing the person you would have chosen.
Every estate plan is different, but these are some of the documents you might want to include.
A will is the guiding document for any estate. Here, you can specify the people you want to receive your assets, and what each person will get. For example, you can leave a specific amount of cash to one person, and you can also decide who will get your cars, real estate, and other assets.
Trusts are common in estate plans, but not everyone needs them. They are a great way to easily pass on money to family and friends. Some trusts come with stipulations and conditions, letting you control how much money beneficiaries receive, and when.
Revocable living trusts are popular, because they allow you to retain control of your assets as long as you’re alive, and you can make changes to the contents and beneficiaries. After your death, the contents of that trust will be turned over to the trustee. This kind of trust allows you to avoid probate.
Some people like to include a letter of intent with their estate planning documents. A letter of intent is like a will, but more personal. Here, you can add more detail about your final wishes, including funeral planning provisions. A letter of intent isn’t legally binding, but it can be useful as a backup document in case there are issues interpreting your will.
Power of attorney (POA) is another document you may want to include. The person you choose as your POA will be able to make decisions on your behalf if you are incapacitated or unavailable, so it should be someone you trust. There are many kinds of POA, and healthcare and financial POA are some of the most common ones.
A Mission Viejo estate planning attorney can help you decide which documents are necessary for your estate. Estate planning may seem straightforward, but a senior’s knowledge is valuable when it comes to more complex topics like trusts and power of attorney.
With over 60% of the population being married and 35% having children, it’s imperative that you prepare for the future by working with an experienced Mission Viejo wills and trust attorney. Learn more about mission viejo estate planning lawyer.
Estate planning is essentially creating a plan for the transfer of your property and assets after your death. Your estate consists of all the property you own.
While many people believe that estate planning should only happen after you retire or when faced with a terminal illness or injury, the reality is that an accident or other situation can arise without warning. The prudent thing is to have the documents in place before they are needed.
Estate planning is best done by an experienced estate planning lawyer in Mission Viejo while you’re legally competent and in good mental health. Your estate plans should be reviewed and updated throughout your life.
A Mission Viejo living trust lawyer can help you make a plan catered to your individual needs to determine who will inherit from you and who will settle your affairs when you’ve passed away. Read more about mission trust estate lawyers.
If you don’t work with a Mission Viejo wills attorney or create a written will or trust, your estate will go through probate where the court will decide who inherits your property.
A Mission Viejo wills lawyer will help you ensure that your family is taken care of and won’t have to go through a draining probate process. Learn more about mission viejo estate planning.
If you own your home or any other real estate or have more than $150,000 in assets, your estate will be subject to probate if you do not have a will or trust. Probate will determine who is the rightful heir to your estate.
Instead of letting the courts decide for you, it’s best to ensure your family’s future without you by working with a Mission Viejo probate attorney who can help you ensure who gets your property.
However, if you’re already going through a probate process or will soon, you need the help of experienced Mission Viejo probate lawyers that can help expedite the process through the court system.
Trustees typically have a lot of responsibilities after someone has passed away. An experienced trust administration lawyer in Mission Viejo can help guide the trustee through the process and assist with collecting the assets and distribution. Read more about mission viejo trust services.
