Importance Of Estate Planning

Preserve Your Heritage For You And Your There aren’t a lot of people who think estate planning is easy. It is the one thing that forces us to consider the two most terrifying things in the world: death and taxes. Most people think that estate planning is something that rich people do but after the death of my father, whose only biggest asset was the house we lived in for decades. I had long lost uncles and stepbrothers crawling out of the woodworks. They all wanted a piece of my dad after his passing and the step-siblings wanted more than recognition but a shot at the family home. After much quibbling, tense family meetings and dramatic paternity claims, we found ourselves in court. It was like my Father had become more important to people in death than he was alive.

Lessons learned

If there is no will, your partner’s assets will be shared between you and the rest of the relatives with legitimate claims. If your partner dies and you have proof of joint ownership of assets then the law will rule accordingly. Wills aren’t just about money when people die but there are living wills that are useful to people who become incapacitated because of injury or age. It is important to have an advanced health-care directive and to find an Estate Planning attorney in Temecula you can give a financial power of attorney. This way you have some guarantee that even if you grow very old and have passable looks and zero stage presence.

Choose a revocable trust. It helps avoid probate, which can really bleed your money dry. What is Probate? Probate is a Probate can be long and drawn out exposing the tumultuous family drama and secrets so you want to avoid it as much as you can.

A will should evolve with the changes that come in your life. You might have more children, get divorced or married, losing some of your assets. Your lawyer should find a way to protect you and your