Long Beach Estate Planning Lawyers Helping Clients With Their Estate Planning Needs
Most individuals don’t want to consider or even plan for what will happen to their possessions once they die. While putting off making Long Beach estate arrangements is a typical reaction, it is also a typical error. Don’t make the mistake of waiting until it is too late and leaving your loved ones to clean up the mess.
Our attorneys help many customers and their families with their estate planning requirements and explain why having an estate plan in place as soon as possible is a good idea to protect your family’s financial future.
Why Should I Consider Estate Planning to Protect My Assets?
Estate planning is a process that involves using several documents and instruments to specify how your assets and fortune should be dispersed after your death. Your estate plans may safeguard your assets from unnecessary costs, provide for a loved one with special needs without jeopardizing their eligibility for government assistance, and even prevent some assets from going through probate if appropriately constructed.
Also, you can specify in your estate plans how you want to be handled in the event of incapacitation and who should look after your young children if you suddenly die. Without estate planning documentation, a judge could be forced to make all these crucial choices. Procrastinating on drafting your estate plans may be hazardous when there is so much at stake.
What Should Information Be Included in My Estate Plans?
Plans may differ from person to person since there is no single estate planning strategy that works for everyone. A final will, a power of attorney, and an advanced healthcare directive might make up the simplest estate arrangements.
A living trust might be helpful for certain people to establish and include in their estate planning. Documents like the financial power of attorney, beneficiary designations, and guardianship designations may also be included at the discretion of others.
While having just a will and no additional legal papers is preferable to having none, you should be aware that a will cannot cover all potential issues that could damage your assets. Particular estate planning instruments are made to operate in concert with your will and other documents to safeguard your property better.
A will alone cannot protect your assets from creditors or prevent your estate from going through probate. Consult with an estate planning attorney as soon as possible if you are unsure which estate planning paperwork and tools are best for you.
What Does California Probate Mean and How Can I Avoid It?
During the legal process of probate, a court supervises the distribution of a decedent’s property following their will. The executor, designated on the will, will be chosen by the court to manage the decedent’s affairs, pay any taxes and obligations, interact with beneficiaries, and distribute the assets according to the decedent’s desires.
There may be a shortened probate procedure available for smaller estates worth $166,250.00 or less, and not all assets in an estate are required to go through the probate process. Establishing a living trust, which enables assets to be immediately transferred to beneficiaries without judicial oversight, is a typical method to avoid probate.
What Can an Estate Planning Lawyer in California Do to Assist Me?
Most individuals don’t particularly enjoy or look forward to the estate planning process, but once it is completed, it may provide you and your loved ones the assurance that their future is protected no matter what the future holds.
Without the assistance of an expert, selecting your estate planning paperwork and effectively drafting them may be a monumental undertaking. Our legal team at Barilari & Williams, LLC is committed to working quickly and effectively to assist you in building personalized estate plans. To begin, call our Long Beach location at 888-EST-PLAN.
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