Why Do You Need To Consider Estate Planning?
Many of my clients come to me and want to know why they need to create an estate plan. The short answer is that there are many benefits that are only available to those who actually create a comprehensive plan to protect their families. I wanted to take a few moments to discuss some of these advantages so that you can understand how estate planning can help not only with asset protection, but also with other extremely important concerns.
You Can Avoid Probate
Probate is time-consuming and can be expensive in some situations. If you fail to create an estate plan, your family will have to wait before being able to access these items. This delay can cause severe hardship for your loved ones and make it difficult for them to make ends meet after you pass away. An estate plan will allow you to ensure that this does not happen at an already challenging time.
You Can Specify Exactly What Should Happen With Your Property
If you die without a will, trust or other estate planning documents, your property will be passed along according to California’s intestate property laws. These laws list certain family members who are entitled to receive these items. Close friends are not included in these laws, so if you have items that you want to go to specific people, you need to speak to an experienced attorney to create a plan that carries out your wishes.
You Can Clearly State The Medical Care That You Should Receive
Incapacitation can happen to any of us, at any time. If you are in a serious auto accident or suffer a significant illness, you might be unable to express the amount of life-sustaining care that you should receive. Your family will be forced to make a very difficult decision which may go against your wishes. An estate plan allows you to specify the amount of treatment you are to receive in these situations.
You Can Select The Individuals That You Wish To Care For Your Children
If you have children, estate planning is an absolute must. If you and your spouse or co-parent both pass away unexpectedly, an estate plan will allow you to name the guardian that you would wish to care for the children. Without having this in place, it can become a much more complicated situation for everyone involved. This will ensure that your children will be able to have a stable future after such a tragic event.
Provide Guidance To Your Family At A Difficult Time
My goal is to help you find solutions that protect your legacy. To schedule a consultation with an estate planning lawyer with 25 years of experience, please call my Anaheim office at 714-639-1990 or send me an email. I will help you create the right plan for your specific needs.