One of the most important things a person can do is establish a working, legally enforceable estate plan. Estate plans benefit both you and your family when you pass on. When people pass away, they want to ensure their assets are distributed as intended. Fortunately, a valid will and thorough estate plan can help this intention become a reality. If you are considering getting started on your estate plan, here are some of the questions you may have regarding the legal process going forward:
Who needs an estate plan?
Everyone needs an estate plan, and you can never be too young to draft one. Estate plans can help your family avoid probate, reduce your estate taxes (thereby maximizing the amount of inheritance your family will collect), protect beneficiaries and assets, and, perhaps most importantly, establish guardians and powers of attorney. Whether you are only 30 years old and have basic assets, or you’re over 60 and have a lifetime’s worth of assets, estate planning is a crucial aspect of all of our lives.
Do I need a lawyer for estate planning?
You may draft a will without a lawyer, however, why would you? People often think they are saving money by doing so, however, you are almost guaranteed to lose money in the long run. Drafting your will using an online kit may be tempting, however, you open yourself up to legal turmoil by doing so.
Additionally, estate plans address the issues that are most important to us, such as appointing a guardian in the event that you pass on unexpectedly and have a child under the age of 18. Wouldn’t you want to ensure your child is living with someone you trust? Additionally, powers of attorney can help establish authority over your affairs, should you ever become incapacitated. A healthcare power of attorney, for example, can determine who will make your healthcare decisions, should you be unable to do so yourself.
Contact our experienced California firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.