Estate planning is the process of arranging for the management and disposal of one’s estate during his or her life and after death. Estate planning is for everyone, regardless of their financial status. However, before starting the estate planning process, it is first necessary to hire an experienced California estate planning attorney. Here’s why you need a California estate planning attorney.
To understand what your estate plan can do
Most people are familiar with the will, which is a popular estate planning tool. However, estate planning is much more than simply drafting a will. With the help of an estate planning attorney, you can do things like:
- Create a trust
- Avoid high taxes
- Create a living trust
- Designate a durable power of attorney
- Draft a prenuptial agreement
- Create a living will
Because an estate plan isn’t a static document
An estate plan is not something you work on once and forget about. Rather, an effective estate plan must be periodically updated. For example, the birth of a child or the acquisition of new assets often creates the need to update an estate plan. And this requires the assistance of an experienced California estate planning attorney.
To create accurate documents
A common problem with many estate plans is that they are created using sloppy or incomplete documents. Often, this is a result of failing to hire an estate planning attorney prior to starting the process. An experienced California estate planning attorney will ensure that all of your estate planning documents are accurate and legally sufficient.
To protect your finances and health
No one can predict the future. Therefore, an estate plan that accounts for both finances and health care is imperative. Your attorney will help you draft documents that account for your future health and financial needs.
To avoid problems in the future
When estate planning documents are poorly drafted, problems often arise, and this defeats the whole purpose of estate planning. Estate planning is intended to prevent problems, not create them. An experienced estate planning attorney will help you draft documents in a way that avoids these types of problems down the road.
Because each estate plan is unique
Finally, no two estate plans are the same. Everyone is different, and everyone has different estate planning needs. Therefore, attempting to use generic estate planning templates to plan for your future is a horrible idea. An experienced California estate planning attorney will craft an estate plan that accounts for your individual needs and life situation.
Santa Barbara Estate Planning Attorneys
At GM Group, we believe that estate planning is for everyone, regardless of their financial status, and we always look out for the best interests of our clients. Our experienced estate planning attorneys utilize their extensive legal knowledge and skill to design custom estate plans for clients of all income levels. Therefore, if you are interested in beginning the estate planning process, please call our office today for a free consultation.
Posted in: Estate Planning