Last week on this blog, we talked about estate planning as it relates to hard assets, such as family heirlooms. Finding a satisfactory way to deal with this issue can be challenging, especially when multiple family members are hoping to inherit a specific piece of property. Yet, dealing with hard assets is just a small piece of the estate planning puzzle.
There are multiple considerations that must be made to complete a holistic and effective estate plan. While one must of course deal with the future distribution of liquid assets like cash, stocks and bonds, he or she must also think about his or her potential need for long-term care, assistance with handling healthcare and financial decisions in the event of incapacitation and the restrictions he or she wants to place on the distribution of assets.
Considering these matters can quickly become overwhelming. However, by working closely with a skilled legal professional, like those at Michael A Sawamura, Attorney at Law, Californians can create a custom-tailored plan that meets their needs. A competent legal professional can walk an individual through the estate planning process, building it up piece-by-piece. Additionally, an estate planning attorney can help an individual ensure that a plan is modified from time-to-time to take into account changed life circumstances, such as marriages, births and even ruined relationships.
At our firm, we want our clients to find peace of mind with regard to their estate plan. We do not want them to waste time worrying about what will happen to their assets and their loved ones upon their passing. Therefore, we encourage individuals to work with their attorney to create a comprehensive estate plan that meets their needs as soon as possible so that they can put their fears aside and focus on the life they have to live.