As you age, there's a chance that you may not be able to make health care decisions on your own. The same holds true if you suffer a serious injury or are struck down by an illness.
And for this reason, it's imperative that you plan for the worst, while always hoping for the best. A health care power of attorney allows you to do just that.
There is nothing more exciting than bringing a child into the world for the first time. While your life is sure to change in many ways, there's nothing you can't handle with proper preparation.
Estate planning may not be the first thing you think about after having a child, but it should be high on your priority list. There are a variety of steps you can take to give yourself peace of mind, while also protecting your child in the event of your passing.
Tying the knot will change your life in a number of ways, including your estate plan. Now that you have a new spouse, there are changes you can make to ensure that both of you are protected in the future.
Here are a few points of consideration:
As your parents age, you'll have a lot of worries running through your mind. For example, it's common to have concerns about their estate plan.
If you come to find that your parents don't have an estate plan, it's important to discuss your concerns with them. When doing so, make it clear that you have their best interest in mind, not yours.
Attorneys who aid clients in preparing their wills are required to assess that individual's testamentary capacity to execute such a document. The reason why lawyers are required to do this is because the decisions that you include here carry a lot of weight. If you're not fully aware of the choices that you're making, then you may end up making decisions that aren't aligned with your final wishes.
Your Sacramento attorney will want you to demonstrate that you know about the breadth of property that you own. They'll want to make sure that you understand what the purpose of a will is and what the implications of disposing of certain property may be. They'll expect you to know who your relatives are and what their rights to your estate are if you don't draft a will.
It's not uncommon for a decedent's heirs to question how they're going to keep on going once their loved one dies. Death is especially difficult for minor heirs. They may be prone to burning through what you leave them unless you put something in place to make sure that they utilize their financial resources responsibly. A testamentary trust can ensure that your final wishes are carried out as you'd hoped once you've died.
A testamentary trust is a trust that goes into effect upon the testator's death. It can be set up simply by you drafting your will.
When it comes to estate planning, you never want to sell yourself short. You should do whatever you can to protect the well-being of you and your family, both now and in the future.
And for this reason, it never hurts to learn more about the benefits of a living trust. Here are some of the many reasons to consider adding this to your estate plan:
There is no legal requirement to create a durable financial power of attorney but with so many benefits, it's something to strongly consider.
Through a durable financial power of attorney, you give another individual, known as a financial agent, the power to manage your finances in the event of your incapacitation.
When it comes to estate planning, there's so much gray area that it's easy to confuse fact and fiction. Unfortunately, if you believe a simple myth to be true, it can harm your ability to create a comprehensive, legally binding estate plan to protect you and your family.
Here are some of the many estate planning myths that could cause you trouble:
When creating a will, it's natural to think about what will happen upon your death. After all, that's a big part of estate planning.
This could lead you to consider the idea that a will contest could come into play. Since you don't want this to happen, here are some steps you can take when creating your estate plan:
If you would like to discuss representation or have another question about my firm, please call 916-248-4465 or email my Sacramento, California, office to arrange for a consultation.
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Sacramento,
CA
95814-1808
Phone:
916-248-4465
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