Estate planning is perhaps the most important things you will ever do, it is planning for the disposition of your estate in complete accordance with your will, ensuring that your health care needs can be met in your senior years and to ensure that those loved ones you leave behind are properly provided for. To ensure that all these things are done and done in accordance with the law you will need to work with a Sacramento estate planning attorney.
For many people the hustle and bustle and the pressures of daily living overtake the need for long term planning. Understand that a comprehensive plan that deals with all aspects of your estate will solve problems that otherwise will arise upon your death. It is imperative that an individual fully understand the state of his or her financial affairs, what property do they own both real and personal and who do you want to get what? If, upon your death there are minor children it is important that a legal guardian be appointed to care for them, you also should make appropriate funeral arrangements and deal with the tax implications of transferring ownership of property owned by you.
What constitutes an estate?
Any property which is owned by you at the time of your death constitutes your estate. This property can include:
• Real property
• Bank accounts
• Stocks and bonds
• Life insurance
• Personal property
How does an estate plan help you?
Regardless of the size of your estate, a estate planning attorney in Sacramento can help to ensure that a number of important things are attended to:
• Identification those that you wish to be included in the disposition of your estate
• Legally transfer the property in a timely fashion
• Minimize death taxes
• Avoid the cost of and the time associated with probate by using such things as living trusts and “payable upon death” bank accounts
• Advance planning of any life-prolonging medical care in the event you are incapable of doing so at the time
• Lay down arrangements for your own funeral
There are innumerable details associated with ones estate and a Sacramento estate planning attorney can be of great help in ensuring that your will is prepared properly and that all your wishes are carried out upon your demise. You may be familiar with what a will is and what the intention is but an estate planning attorney can help with trusts, avoiding probate and taxes.
