There is no question that end-of-life planning is a necessity. Unfortunately, many people come up with different excuses not to do it. Whether they are too busy, don’t think they have enough assets, think they are too young, think they have plenty of time in the future, or are simply afraid to consider their own demise, the fact remains that estate planning can be a complicated and emotional process for many. Luckily, estate planning attorneys can ease the pressure and stress of taking these important steps.
The Top Six Reasons Why You Should Work with an Estate Planning Attorney
There are several practical reasons why it’s imperative that you work with an experienced estate planning attorney. For example, an estate planning attorney can help to prevent adding additional emotional stress to your loved ones after your passing and help to avoid additional turmoil if you’re unable to make certain decisions for yourself during your lifetime. Here are the top six reasons why working with an estate planning attorney is a necessity:
1. Make your medical wishes clear
A health care directive provides clear guidance to medical professionals regarding the medical wishes that you have in the unfortunate event that you’re unable to communicate them yourself. For example, if you are a healthy individual, it’s understandable that you may want doctors to make every medical effort to remain alive, but perhaps you have a different feeling if it becomes certain that a coma will be irreversible or no quality of life will exist. A health care directive will give your family the peace of mind of knowing that your doctors are caring for you the way that you want.
2. Appoint guardians for your minor children
If you have a minor child, you can create estate planning documents that ensure that these individuals will be cared for in the event that you pass away by the people of your choosing. Unfortunately, if this designation is not in place, your family members will need to go through a separate formal court process on their own without guidance, which can cause further stress and frustration.
3. Financially plan for minor children and disabled beneficiaries
Most parents with young children will tell you that they have their doubts that their child will be able to manage their money until they reach a certain age. An experienced estate planning attorney will help you to structure your documents in a way that makes you feel comfortable in terms of the monetary amounts that your child receives and when. In the case of a disabled family member who may receive public benefits, being awarded a portion of your assets outright could cause them to lose their public benefits altogether. An estate planning attorney can help you establish a trust for them that would not jeopardize this benefit.
4. Designating beneficiaries and inheritance amounts
An estate planning attorney will help you to review your assets including liquid assets such as money that you have in a bank account, investments, real property, retirement accounts, as well as insurance policies to ensure that they are all updated with the appropriate titling or beneficiaries. Once you make the decision regarding how you would like to structure the distribution of your assets, an estate planning attorney will draft a Living Trust and Last Will & Testament that will reflect those wishes.
Related post: Living Will vs a Last Will & Testament: What’s the Difference?
5. Peace of mind
One of the leading benefits of working with our estate planning team is the fact that we provide you with the peace of mind of knowing that you have legal documents in place that clearly indicate the wishes that you have for the assets of the estate – and that your plan will actually work when the time comes. By removing the possibility of your family members fighting over these assets or needing to go through court to claim assets, you can make the grieving and estate administration process easier for your loved ones left behind.
6. Ensure that your documents are in accordance with probate laws
Our estate planning attorneys in San Diego continuously monitor any changes to California probate laws, California property laws, and Federal tax laws. As a result, we work closely with you to create documents that minimize your tax liabilities and comply with all regulations. During the planning process, we will speak with you in detail regarding the options that you have available to you.
Schedule Your Appointment Today
The team at Jenkins & Jenkins, Estate Planning Attorneys are here to help you begin developing a comprehensive estate plan today. Get in touch with us today to book your free consultation with us. We are here for you and we are always happy to help.
Testimonial from Amanda, Satisfied Estate Planning Client
If you are seeking an Estate plan, living trust, Probate or anything related, you would be foolish not to trust this wonderful duo. We can’t thank them enough for their honesty and down to earth professionalism.
