Estate planning is an important part of making sure you are prepared for the future. Securing your wealth, property and other assets is critical, especially if you want to donate them to loved ones or charitable organizations. Another crucial aspect of estate planning is that it allows you to create a plan in case you ever become incapacitated. You want to make sure any healthcare decisions made on your behalf reflect your own wishes. Thinking about the future is not easy, but an estate lawyer, like one from Yee Law Group, PC, can help you accomplish your goals.
Secure Your Assets
Whether you choose a will, trust or other form of asset protection, estate planning allows you to develop a customized plan to secure your estate. How you structure an estate plan is entirely up to you, and depends on your goals. Whether you have few or many assets, an estate plan keeps them safe and away from the wrong hands.
Name Beneficiaries
If you have assets that you want to one day pass down to loved ones after your death, it is important to include them in your estate plan. You want to avoid confusion as much as you can.
If the court knows who you have named as beneficiaries, Naming beneficiaries will make the asset distribution process much less complicated when you have it written down in a legal document.
Avoid Probate
Depending on how your estate plan is set up, you may be able to avoid probate. For example, a trust generally allows people to bypass the probate process, which can take a long time to complete. Beneficiaries are usually not able to immediately access funds that are set aside for them during probate. It is a tedious process, so it eliminates many inconveniences if you are able to avoid it.
Implement Health Care Directives
You can include advanced health care directives as part of your estate plan. In the event that you become incapacitated or unfit to make your own healthcare decisions, your loved ones may have to make those decisions for you. You have the right to communicate your preferences regarding what kind of treatment you will receive or the medical procedures you will go through.
Contact a Qualified and Experienced Estate Lawyer
Legal assistance is available if you need help with structuring an estate plan. Contact a reliable and trusted estate lawyer now.
