Taking care of one’s family is the number one priority in most people’s lives: a priority that never changes. An average person’s lifetime is spent building assets to accomplish this goal. We do this to ensure strong financial security and safety for our loved ones. However, what happens to your assets in the event of an unforeseen tragedy? To plan for the unexpected, here are some typical reasons estate planning can help. A strong estate plan can ease your worries while helping you live a peaceful, and productive life. Here are the top reasons why if make sense for efficient estate planning.
Offers care for immediate family:
The estate plan offers support for the surviving spouse and helps them continue to care for the family. If both you and the spouse pass away before you children reach adulthood, then an estate plan can appoint guardians to take care of the children.
Ensure the right transfer of property:
A well-crafted estate plan helps outline the distribution of your assets’ upon your death. This resolves much of the emotional impact of your losses, and sometime, family discord.
Plan for any incapacity:
Life is quite unpredictable, if you, or your spouse, become mentally or physically incapacitated before you pass, an estate plan can ensure your wishes continue to be carried out.
Selecting trustees and personal representatives to administer your estate:
Your estate plan will dedicate a person to serving as the executor of the estate and the successor trustee of your trust. They will ensure things are handled well. Your estate plan names that person, helping you save money on court costs and legal fees, and greatly simplifying the administration process.
Takeaway:
By now, hopefully you have realized what an estate planning attorney in San Mateo, CA, can bring to the table. Estate planning can, and should, be done at all states and ages of your life. Wills and trusts can be altered as your life changes; so it is better to put things in writing now, rather than risking a catastrophic loss. An estate planner will tailor a strategy specific to your financial needs and requirements.
Whether Legacy or Business Planning, Contact CASHMAN LAW today for a free consultation to get the Plan You Deserve.™ You can reach us at 808-460-0436 or 650-319-6801, or schedule an appointment directly at this Link.
Thank you for taking the time to read my blog. Please find additional blog articles at the links to the right or in the posted blog section below. If you would like to receive notice as each new blog article is posted, fill out the “Contact Us” form and indicate in the comments section that you would like to receive an email. Your information will not be shared, and you will not be contacted for any other purpose, unless you specifically request it.