How To Make An Estate Plan

How To Make An Estate Plan Property Suggestion

What is An Estate Plan?

Estate planning is making a plan in advance and naming whom you want to receive the things you own after you die

Estate planning is the process of preparing the proper documents in order to protect both yourself and your family in the future. The main objective is to ensure your wishes are made known and ultimately respected by your family. A Good estate planning often means more to families with modest assets, because they can afford to lose the least.

Who Need Estate Plan It is not only for the retired people, but also for the people who take the advance stpes before getting older. As, we can’t successfully predict how long we will live, and illness and accidents happen to people of all ages.

If one has not planned these aspects of his or her estate, the legal system will pick someone to handle your asset distribution and personal care management. So they’ll have no control over them during their lifetime. After their death, the property will be distributed amongst their heirs according to intestate succession rules, or will go to the state if they have no family.

Why Need a Good Estate Plan?

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Avoiding Probate

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Reducing Estate Taxes

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Avoiding a Mess

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Protecting Assets from Unforeseen Creditors

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A per the instructions, Estate Plan is applicable for your care if you become disabled before you die.

Including the life insurance to provide for your family at your death, disability income insurance to replace your income if you cannot work due to illness, and long-term care insurance to help pay for your care in case of an extended illness.

That planing minimize taxes, court costs, and unnecessary legal fees.

How Can Law Firm Help You There are several types of legal documents that can help you to establish your personal estate plan.

A qualified attorney will take a look at several aspects like❏ ❏ ❏ ❏

Your life Your financial life Your real and personal property Your individual values and goals etc.

A recommend Oakland estate planning lawyer at the Law Offices of Melanie Tavare may suggest more of the following documents: ● ● ● ●

A Last Will and Testament A Trust A Power of Attorney Advanced Health Care Directives

With the changing of your personal life may affect an estate plan, like ➔ ➔ ➔

For your family situation such as a birth, a death or divorce The large adjustment of a change in career or the buying and selling of property The death or discharge of someone previously named as your executor, trustee or power of attorney

Final Thoughts An experienced attorney will know how to apply these laws as your life progresses and your family grows and changes. Just meet with the estate planning attorney at Oakland, to make adjustment to your estate planning documents to reflect such changes; as they are well versed in the most up-to-date California estate planning laws. They will take the time to get to know you personally and to understand your long-term objectives and needs.