In late December, we discussed the importance of estate planning after becoming a parent.
For many Californians, estate planning is something that isn't given much thought until there is a major life event such as the death of a loved one or the birth of a child. Although estate planning is something that should be engaged in early and often, there's no shame in starting the process later in life or after a life-changing event.
What is important is that Californians understand how the estate planning process can benefit them, their estates, and their loved ones. To start the planning process, an individual should consider his or her vision for the future of his or her estate, as well as the future of his or her loved ones. By doing this, an individual can get a better sense of to whom he or she would like to leave assets as well as any conditions placed on the distribution of those assets. By placing conditions on distribution, an individual can retain control over estate assets for a long time to come.
Because an estate plan can be completely customized, those who are looking to either create or modify their estate should consider discussing the matter with a qualified legal professional. A skilled legal team, like the one at the Meinzer Law Firm, know the various will and trust options available, as well as the advantages and disadvantages of each. We are therefore able to advise our clients as to how best to navigate the planning process to meet their estate planning goals.
Thinking about one's own death is not an easy thing to do. Yet, we find that our clients are thankful for having created a plan that ensures their estate is in good hands. After all, one never knows how long he or she has to create a plan and protect their estate's interests. This is why we encourage Californians to seek legal assistance early to create or modify a custom-tailored plan that fits their needs.