Individuals who are searching for an estate planning lawyer Roseville, CA trusts might already know that estate planning can be very complicated. It is common for individuals to feel a great deal of pressure to make the best possible decisions for how their property should be passed along and inherited by remaining relatives. At Yee Law Group, P.C., we know that estate planning can seem very stressful at first. Working with a top estate planning lawyer Roseville, California residents recommend is one way of simplifying the process and making sure that you are leaving your estate in the right hands.
Estate Planning FAQs
Planning your estate can serve as a unique challenge due to the emotional obstacles one must overcome in order to make informed decisions. Thankfully, the team at Yee Law Group, P.C. is here to help you every step of the way.
Working with an experienced Roseville, California estate planning lawyer in order to create a detailed estate plan can give you peace of mind that your wishes are accurately documented and that because they are legally enforceable, they will ultimately be respected. Additionally, you will be able to rest easier knowing your family will be protected when you can no longer be there for them physically. Before you begin your estate planning process, let us help you navigate some basics. Should you have any questions as you read this material, please consider writing them down so that our team can go over them with you when you come in for a consultation.
What is estate planning?
Simply put, estate planning is the process of working with an experienced Roseville, CA estate planning lawyer in order to ensure that your end-of-life wishes, medical and financial powers of attorney, and asset management are addressed in legally enforceable ways.
Why is it important to have a will?
Having a will is important because it ensures that your wishes are respected after your death. Without a will, your family members and loved ones will not have a say in how your finances and assets are split up, and the majority of your estate may end up in probate.
What is probate?
Probate is the official proving of a will by the court system. Since your will is a legal document, it cannot be executed without going through specific guidelines, which is why probate is there as a way to protect you. However, the typical probate process costs about 10 percent of the entire estate. As a result, it is important to avoid probate when possible. An experienced Roseville, CA estate planning lawyer can help you construct your estate plan in a way that avoids probate whenever possible.
What is a living will?
Also known as an advanced medical directive, the living will is what details your medical preferences in the event that you become incapacitated. It is a legally binding document, meaning both your doctors and family members must abide by your wishes. It is typically used when it comes to issues involving prolonging care (such as being taken off of a feeding tube or a breathing tube), pain management, resuscitation preferences, etc.
If you are intimidated by the idea of estate planning, please do not worry. Our experienced team of Roseville, CA estate planning lawyers is here to help you every step of the way. We look forward to speaking with you.
If you are still hesitating about contacting an estate planning lawyer in Roseville CA, here are a few questions to ask yourself that may help you decide to hire a lawyer:
Will your estate need to be approved through a probate court?
Small estates and certain types of inheritance property can be transferred to another owner without going through probate court. However, it is important for individuals with an estate to know exactly how their property and wealth will be passed along. An experienced estate planning lawyer Roseville, CA has to offer may help the process by ensuring that the individual has filled out any necessary documentation that could allow his/her relatives to avoid probate court.
Is the family getting along?
This question is actually very important where inheritances are concerned. If a family has the tendency to disagree, there could be legal issues later on if the individual does not leave clear instructions on how the estate will be divided up or passed along. In extreme cases, family members may choose to file lawsuits when an estate is not clearly planned out. Not only could this create hostilities within the family, but paying for a lawsuit could also drain the estate itself. Even when a family avoids filing a lawsuit over an estate dispute, it may still be possible for the dispute to foster ill-tempered feelings that last a long time.
Does the estate include common assets like a house and bank account, or are there unique assets included in the estate?
A family-owned business, for example, can be a major part of an individual’s estate. Several pieces of real estate property may also be worth a great deal of money and could complicate a person’s estate. Even a collection of valuable antique items can increase a person’s estate by thousands of dollars. A skilled Roseville, CA estate planning lawyer can assist with planning when an estate contains assets that are very unique or must be passed along through complex procedures.
Get Our Help!
When you want to leave a legacy and take care of your loved ones, you may be considering creating an estate plan. Unfortunately, many people believe they are not in the position to write an estate plan. Perhaps you are not rich, do not own multiple pieces of property, or are concerned about how time-consuming creating an estate plan can be. These are all valid thoughts and concerns. However, we encourage you to stop and think about what you do have to offer your loved ones. Maybe you own a home, a car, a special antique coin collection, or valuable stamps. An estate planning lawyer Roseville, California residents rely on understanding the importance of knowing the value of what you have and how to properly give it to your family when you pass away.
The Cost of Dying
No one wants to think about dying. However, you may be surprised to find out just how expensive that can be. Some of the expenses are any final medical costs you may have before passing, reserving a funeral home, burial fees, and even service fees. Instead of leaving your loved ones to pay the costs of all of these, you can create an estate plan that sets money aside to be used for these purposes.
What things does an estate plan include?
Understandably, if you are unfamiliar with estate planning, you may want a high-level overview of what you could include.
Beneficiaries. When you create an estate plan with your Roseville, CA estate planning lawyer, you will take the time to consider which loved ones you want to name as your beneficiaries for specific assets.
An advanced medical directive. This is an important document to have for when you are still alive but are no longer able to make decisions. This will tell your loved ones what kind of medical intervention or procedures you want and who will have the right to make medical decisions on your behalf.
Creating a trust. If you want to have as much say as possible in what happens to your assets, especially while you are still alive, you can create a trust. When you have a trust in place, it can also help you avoid costly probate taxes and the process of going through probate court.
Are you interested in understanding more about estate planning and the estate planning process? Contact Yee Law Group, P.C. to learn more from our estate planning lawyer in Roseville, California.
Contact a Local Estate Planning Lawyer Roseville, CA Can Rely On
If you need assistance planning out your estate, our firm may be able to help. At Yee Law Group, P.C., we always consider the needs and best interests of our clients to be a top priority. Our legal team helps clients plan out their estates so that their assets are transferred into the right hands when it’s time. For more information about Yee Law Group, P.C., or to schedule a consultation with a top estate planning lawyer Roseville, CA trusts, contact us today.
Common Myths About Estate Planning
There are still many myths about estate planning, and believing those myths can lead to costly mistakes. Here are a few misconceptions that an estate planning lawyer in Roseville, CA doesn’t want you to believe:
- If You Don’t Have a Big Estate, Planning Isn’t Necessary: If you have a small estate, you won’t require a complex will or trust. However, that doesn’t mean you shouldn’t do any planning at all. If you have any assets, you want to make sure they go to the right people after you’re gone. Additionally, if you have minor children, it’s important to have an estate plan in place so that you can state who you want to take care of them if you should die suddenly.
- You Can Be Too Young for an Estate Plan: The truth is that you’re never too young to have an estate in place. When you’re young, it’s of course unpleasant to think about death, but it’s important to be prepared for the unexpected. With a proper plan in place, you will have a peace of mind knowing your assets will go to the right people and your final wishes will be carried out.
- You Can Just Draft an Estate Plan Yourself: At first, it can be tempting to draft your own will on a DIY will service online. However, it’s important to understand that wills are complicated documents that may contain language that the average person doesn’t understand. Although you can initially save money by creating a will on your own, you could end up paying more in the long run. It’s best to leave it up to an experienced estate planning lawyer in Roseville, CA.
- Once You Create an Estate Plan, That’s It: Some people create estate plans and think they never have to think about them again. However, it’s critical to review your estate plan periodically and make changes when necessary. For example, you need to make changes every time you experience a major life event, such as a divorce or birth of a child.
- I Have to Treat My Kids Equally: Another common misconception is that you have to give the same amount of assets to each of your children. However, it isn’t necessarily the best idea to always do that. For example, one struggles more financially than the others, you may consider giving him or her a bigger inheritance.
For more information about Yee Law Group, P.C., or to schedule a consultation with a top estate planning lawyer Roseville, CA trusts, contact us today.