Last week on the blog we discussed the estate of famed movie star Burt Reynolds and how he utilized a trust to protect his assets for his son. Although it may seem a bit unconventional to write someone out of your will like Burt Reynolds did to his son, it can serve a purpose. In fact, there are a number of decisions you can make during the estate planning process to protect yourself, your assets, and your heirs and beneficiaries.
This customization is a true benefit of estate planning. While many people turn to the standard options such as creating a simple will, your planning doesn't have to end there. Instead, you can utilize trusts as a way to ensure that your assets provide a charitable benefit, provide long-term security for your loved ones, and/or avoid taxes and the reach of creditors. You can even set up a trust to ensure that your pet is well cared for after you are gone.
If you truly want to custom-tailor your estate plan to fit your needs, then you'll need to pay attention to an extensive amount of detail. Estate documents like trusts are susceptible to errors which could completely derail your plan. You definitely don't want this to happen, as it could wind up costing your estate and your loved one's a significant amount of time and money.
This is where the skills of an experienced estate planning legal team, like the one at our firm, can prove beneficial. We provide our clients with the thorough and detail-oriented planning services they need to reach their estate planning goals. Legal professionals like us also help their clients revisit their plans to ensure they are up-to-date and can meet changing needs. In the end, there is a lot at stake in estate planning. Therefore, Californians should leave that task to dedicated, skilled, and trusted legal professionals who can help them realize their estate planning goals.