Encinitas Attorney offers Estate Planning for families to protect their children and assets
Most people think that you need to have lots of money or property to need an Estate Plan. Those people are plain wrong! If you have children, you need an Estate Plan. If you have pets and you want to provide for them after you die, you need an Estate Plan; if you want to give your children money, but not as an outright gift because they may be irresponsible with a lump sum, you need an Estate Plan. Of course, if you have sizeable assets, you need an Estate Plan! Almost everyone needs an Estate Plan. At Yancey Disability Law, PC, we can help!
Encinitas attorney helps families plan for the future
What is Estate Planning? Estate Planing is not just creating will. The goals of Estate Planning are:
- Give what I have to whom I want, the way I want, when I want
- Care for self during lifetime
(incapacity, healthcare decisions)
- Care for/protect others (surviving spouse and children at death)
- Minimize or eliminate probate
- Fulfill your charitable intentions
- Pass on values & ideals to children and grandchildren
- Maximize assets distributed to your loved ones
- Protect assets from creditors for generations to come
North County lawyer helps Southern California families plan for Disability and Incapacity
Some questions to consider when deciding whether your family needs Estate Planning:
- Do you have a will or a trust? Has it been reviewed in the last 2 years?
- Do you have any jointly titled assets?
- Does your current plan provide your heirs/beneficiaries with asset protection against creditors, divorce and lawsuits?
- Are you concerned about any delays and costs your estate might incur if it goes through probate when you die?
- Are all your heirs 21 or older and financially responsible?
- Is this your first marriage? Do you have step-children?
- Are you concerned with family disputes arising from inheritance issues?
- If you were to become disabled, are you certain that your healthcare and financial wishes will be honored?
Encinitas attorney helps families avoid probate
What is Probate?
- Probate is a Public, not Private process
- Probate is complex – Usually need to hire an attorney
- Probate can be a long process – Often taking several months to a year.
- Probate can be expensive!
- Probate also includes court proceedings during life that may be needed
- Disability/Mental Incapacity might require a court to:
- Name a Guardian/Conservator
- Administer your assets
- Make Healthcare decisions for you
Call Yancey Disability Law, PC to schedule an Estate Planning free consultation.