Contra Costa County Estate Planning Attorney
When It's Time To Contact a Professional Choose award-winning estate planning attorney Cynthia C. Sayegh
Estate planning should be initiated early and the specifics for these legal documents should be updated regularly as well according to an experienced estate planning attorney in Contra Costa County. This is an important legal measure designed to safeguard your property and valuable assets to preserve them for your future heirs. The time to contact a seasoned estate planning attorney is now.
Drafting a Legal Will
One of the most important portions of any good estate planning plan is the drafting of a legal will that ensures that your future wishes regarding your estate will be honored as the will stipulates. It is important to outline specifics in a clear and precise manner to avoid any issues later after the estate holder is gone. A responsible estate planning lawyer can also act as a representative of the executor in any future probate-related actions.
A legal will should also include specific instructions for dividing up any personal belongings that may hold sentimental value to one or more heirs. Ideally, this portion of the will should be discussed with those heirs present to help prevent unwanted emotional litigation fights later among competing family members or other designated heirs.
Determining Your Powers of Attorney
Neglecting to choose your preferred power of attorney should you ever become legally incapable of making your own financial decisions is a common occurrence especially if the estate holder is younger in age and is healthy and fit when these legal decisions were first made.
It is crucial to carefully think about who would be the best candidate or candidates for this important task should it ever become necessary. The power of attorney could be a family member, friend, or a professional estate lawyer or financial expert that can be trusted to carry out your financial wishes.
Understanding the Need for Advanced Health Care Directives
Most estate planning attorneys will urge their clients to format an advanced health care directive, also known as a living will, to dictate your explicit wishes with regards to potential future healthcare decisions. This document can precisely express certain health-related conditions and medical decisions that will need to be made if you ever become legally incapacitated or close to death.
Some of the items addressed will include whether or not to provide extraordinary life-saving measures such as being put on a respirator, being fed through a feeding tube, or other end-of-life measures. A Living Will can also stipulate where you wish to go for treatment in the event of a serious mental or physical health condition.
The client can also include durable healthcare-related power of attorney clause that will go stipulate their choice of someone they trust to make these decisions on their behalf should the need arise.
Establishing Legal Trusts Can Reduce Estate Tax & Dictate Management
Another important legal measure concerning estate planning is the establishment of legal trusts. This is usually an included part of the legal strategies of wealthy individuals, but everyday clients can benefit from this action as well. When an estate is not high in monetary value, the heirs could be even more vulnerable should a will or other estate management detail be contested in court.
The establishment of legal trusts can help avoid estate probate, steep estate taxes, and other legal headaches for your intended beneficiaries. Trusts can also help determine how your estate will be managed after you are gone.
These legal documents can ensure that a disabled child or elderly parents will be properly cared for after the estate holder dies. These trusts can also be used to set up educational funds for children and specify how your estate assets and monetary interests will be managed later.
Some trusts can be utilized even if the estate holder is still alive such as in cases of becoming legally incapable of making certain decisions at any point in their life.
Protect Your Estate Assets & Ensure Your Estate Is Managed Long-Term
A competent estate planning attorney can help set up customized trusts to protect estate assets and help ensure that your estate will be protected and managed long-term in the manner that you wish. Along with these trusts, there are other legal protection measures for assets that can include setting up LLCs, limited liability companies, and FLPs, family limited partnerships.
Choosing a Reliable & Honest Trust Administrator
Choosing a dependable and honest trust administrator can ward off unnecessary headaches and confusion among heirs later down the road. An estate planning attorney can assist in this manner. A trust administrator is charged with properly distributing and/or managing your estate after the estate owner dies.
Some of the duties of a trust administrator could be regular accounting of the estate assets to your beneficiaries when asked and to follow the terms of a trust that can be stipulated to be short-term or longer-term as desired.
One of the best things you can do for your loved ones is to properly plan your estate before passing. Contact Cindy today to learn how she can help you with your estate planning needs. You can reach her by phone or by filling out the easy online form to arrange for a no obligation consultation.
Benefits of Consulting a Contra Costa County Estate Planning Attorney
Take some time to consider the pros and cons of consulting with a knowledgeable estate planning attorney. This simple legal action can lessen any burdens that may face your intended beneficiaries after your passing. Not having a reliable and up-to-date estate plan can result in problems that could hinder your beneficiaries from inheriting their assets set aside for them in trusts or in the will.
Many estates end up going into probate that can cause lengthy delays through the already overburdened court system. Estates locked up in probate could drag on for months and even years. Court costs and taxes will usually be much higher as well.