We live in uncertain times these days. You never know what may happen to you tomorrow. You want to be sure that if you are incapacitated in any way your family will be provided for and your assets are protected. Well thought out estate planning will help you reach your goals. Call and speak directly to our trust and estate lawyer to begin the process of the trusts and estates plan. 1-877-963-9543.
Here are just some ways our trust and estate lawyer for estate planning can help you:
*Trusts: Trusts are a very powerful tool because trusts and estates can do the same thing as a will with one very big difference: trusts avoid the probate process. There are many different types of trusts created for different purposes. Some of these trusts include: totten trusts, purpose trusts, charitable trusts, spendthrift trusts, dynasty trusts, generation skipping trusts, constructive trusts, and special needs trusts. There are many more different types of trusts and estates other than those listed. You should contact our trust and trust lawyer to review what your objectives are so the correct type of trust can be drafted for you.
*Power of Attorney: A power of attorney is when you provide authorization for someone else to represent you on your behalf in your financial or business matters in the event you become incapacitated. You can define with our trust and estate lawyer when you are considered incapacitated so your representative will know when they need to start making decisions on your behalf. As part of trusts and estates planning you can make the power of attorney as broad or as narrow as you want depending on what you feel is necessary in your circumstances.
*Wills: You can dictate how your assets will be distributed in a will. If you do not have a will, your assets will be subject to intestate succession laws under Probate Code §6400-6414. This means you will not have any control over who inherits your assets unlike when completing trusts and estates planning. A will provides for who inherits your assets as well as any conditions you may place on the inheritance. It provides instructions on how your minor children may be cared for and it also names a person or persons responsible for carrying out the terms of the will. One disadvantage of a will our trust and estate lawyer will point out is that wills need to go through the probate process. Probate proceedings may be very expensive and may last a long time so your beneficiaries may not inherit immediately.
*Health Care Directives: Health care directives provide instructions about what health care professionals should do with you in the event you are unable to communicate with them. You can provide instructions about your medical preferences and whether health care professionals should provide certain medications or not. You will ultimately be in control of what type of medical treatment you want or do not want. This will take the guesswork out of what you want concerning your own body. You will not leave your family members guessing what you want or make medical decisions you would not agree with or force them to make decisions while they are under extreme emotional distress. This will also prevent unknown third parties from making decisions that affect you without your input.
Whether you are in perfect health and have never spoken to a trust and estate lawyer it is never too soon, but only too late. Planning your trusts and estates can have a significant positive impact on your loved ones and friends up your timely or untimely passing on.
