Don’t Let Death Get in the Way of Life
A lot of people are worried about death. But the truth is that life is more important than death. Death is inevitable, but you can still live life to its fullest even when death is a possibility.
Estate planning can help you do just that. It’s a process that allows you to plan for the future and make sure your loved ones will be taken care of after your death.
An estate planning lawyer can help you with this process by looking at all aspects of your life and determining what needs to be done to ensure that your wishes are carried out after your passing.
The best way to think about estate planning is in terms of “estate” and “planning.” Estate refers to everything that belongs to you: money, property, assets and other items that make up your net worth. Planning refers to how these assets are used or distributed upon your death (or incapacity).
In general terms, an estate plan is what you make up for yourself when it comes to managing your assets after death. You can use an estate planning lawyer from the Yee Law Group P.C. for many different things:
Creating Wills
An estate plan is a set of documents (wills, trusts, powers of attorney and medical directives) that let you control what happens to your assets after your death. The most important part of an estate plan is a will, which allows you to appoint a guardian for any minor children and select who should inherit your assets if you die without a spouse or partner. You can also leave money or property directly to family members or friends in the form of specific gifts.
As with any legal document, an estate plan requires careful consideration and should be prepared by an experienced lawyer who can help you navigate complex tax issues. Personal finance websites like NerdWallet and Kiplinger may offer basic information on estate planning, but they lack the expertise necessary to ensure complete coverage under federal law.
An estate planning lawyer from the Yee Law Group P.C. can help you decide who will inherit your assets when you pass away and how those assets will be managed by the executor of your estate until they are distributed among beneficiaries.
Establishing Trusts
A trust is another way to manage your assets after death — especially if there are certain conditions attached to how those assets should be used by beneficiaries (the people benefiting from them).
A good estate planning attorney will also be able to review existing documents like trusts, powers of attorney, and medical directives to make sure they’re up-to-date with current laws. It’s important that these documents reflect your wishes because they may need to be used soon after you create them.
If you’re like most people, you probably look forward to the idea of a payday when you aren’t alive anymore. If that’s the case, what purpose can your estate planning have? The truth is that there are a lot of important decisions to make as you get older, whether you’re young and taking out a life insurance policy or old and writing a will. These documents are crucial in making sure that your estate goes to who it should, without any problems. That’s where a good estate planning lawyer from the Yee Law Group P.C. comes in!
