Nobody knows what tomorrow will bring. That’s exactly what makes estate planning so important: It’s not just a way to prepare for your ideal future, but to safeguard against all possible contingencies. In short, estate planning helps you ensure that you are as prepared as can be, no matter what comes next.
But what specifically does estate planning entail… or rather, what can an estate planning lawyer do for you? It all depends on where you are in life, and the goals you have for yourself and for the people you love. A good estate planning attorney will listen carefully as you explain what matters to you, then help you develop and implement a plan to achieve your desired outcomes.
Here are a few specific ways in which someone with knowledge of estate planning law can help you.
Providing for Your Family, Even After Your Death
Nobody knows exactly how many days they will have on this Earth. What we know is that we all die eventually… and when your time comes, you’ll want to ensure that your family is well cared for. An estate planning law firm can help you develop a will or trust, ensuring that your assets go where you want them to, and that your minor children go to the best guardian.
Avoiding Probate Court
Without an experienced estate planning law professional, you run the risk of your assets ending up in probate court. (If all you have is a will, probate is almost inevitable.) Probate court is a time-consuming and frustrating experience that your heirs will have to contend with. It also means the contents of your estate will be made public. A skilled lawyer can help you avoid this cumbersome experience, and maintain your confidentiality.
Something else to think about is the estate tax. Simply put, you need a tax plan in place so that your assets do not lose too much of their value. An estate planning law firm can help you develop a strategy to minimize your tax burden, which in turn means more wealth handed down to your heirs and beneficiaries.
Enacting Your Healthcare Wishes
Another aspect of the estate planning process is making certain that your medical wishes are upheld, even in instances of incapacitation. For example, what happens if an accident or an illness leaves you in a coma? Through the estate planning process, you can make known your wishes about feeding tubes, breathing machines, and other life support technology. And, you can also appoint a trusted friend or family member to serve as your legal representative in any healthcare decisions. Ask your lawyer about advanced healthcare directives and/or powers of attorney.
Meeting the Needs of Your Family
A good lawyer will address your personal needs, but also the needs of your family members. For example, what happens when your child turns 18? Among other things, you will no longer be able to make healthcare decisions on their behalf; if they are in an accident, you will have no legal standing to choose their care. Your estate planning lawyer can help you put the necessary documentation, such as a power of attorney, into place.
Meet with an Estate Planning Attorney Today
Ready to schedule an appointment with an estate planning lawyer in Fremont? We’d love to meet you here at Singh Law Firm, and to tell you more about how our estate law team can help you achieve all your goals. To schedule a consultation, contact Singh Law Firm at your next opportunity.
Reach out to Singh Law Firm to learn more.