The Five Ways To Do Your Estate Planning and Why You Need A Brea Estate Planning Attorney To Help You
The first thing you need to do is take inventory of your assets and liabilities. Do you mostly have life insurance policies lying around? Do you have assets that might need to pass through probate? Probate is the process of proving the validity of your will. You might have a small family business. That is going to require special provisions. Sit down. Go through your inventory. Make lists of everything. You need something to show your Brea attorney when they sit down to help.
Four More Things You Need To Do When Planning Your Estate
1) Figure out who your beneficiaries are going to be. Who gets what and when? Make sure there are not any surprises. Sometimes it is better to give someone a heads up. Did you update your beneficiary list to include everyone in the present? The last thing you want is for your prized book collection to go to someone you knew 20 years ago, someone you are no longer friends with. Your Brea attorneys can help out with that too.
2) Figure out who is going to manage your plan after you are gone. Make sure it is someone you trust 100%. What happens when you become incapacitated? Who takes care of the things you cannot? They need to know ahead of time. That way you can take care of any problems before they arise.
3) What plan works for you? Some people like to use a revocable trust. Some do not. Pick what works for you and iron out the details.
4) Find a Brea attorney you trust to help draw everything up. You need someone who has done this before. You need someone who knows what they are doing. The last thing you want is for a mistake to be made and everything ends up in court where someone else decides.
Two Main Reasons To Hire A Lawyer For Your Estate Planning
1) You need more than just a will. A will only take care of part of the situation. Your lawyer knows what papers you need and how to make everything legal.
2) Your own economic self-interest. Do you want some second cousin(a person you did not like)coming in and dictating what happens in your place? Do you want the state to decide what happens in your absence? It is a legal document that cannot be refuted. It does not matter how much your family tries to get involved. Everyone is bound by the legal terms you drew up.