It’s very easy to put estate planning on the back burner as everyday life gets in the way, but you don’t want to leave your family in a mess if something happens to you and there is no will to dictate your wishes, which is why it is important to hire an estate planning lawyer in Roseville, CA to help. But, when should you hire an estate planning attorney? Our lawyers at Yee Law Group, P.C. have put together a list for you below!
You Reach Adulthood
Your estate plan should involve more than just a will or trust. It should also include legal, medical and financial powers of attorney if you are incapacitated. It may also include information about your funeral or how you want your remains treated. Therefore, you don’t always need assets to make an estate plan worthwhile.
When you become an adult, you are legally allowed to enter into contracts. Therefore, you cannot write a legal will before you turn 18 years of age. At this point, you may choose to consult an estate planning lawyer about a will or estate plan. A legally binding document is the only way your loved ones know what you want to be done with your assets, at your funeral or with your medical care if you are incapacitated.
There Is Dissention in Your Family
If you have multiple possible heirs or you have individuals you want to leave out of your estate plan or asset distribution, you need to work with an estate planning law firm. These professionals can clearly record your assets and which beneficiaries will receive them. They can also help you choose an executor or trustees who have no personal attachment to any member of the family and can distribute the assets without bias.
You Have Accumulated Assets
Each state has specific laws regarding estates and how they are distributed or taxed after your death if you don’t have a will or other documentation. Therefore, when you start accumulating assets, you should seek the counsel of an estate planning attorney. These individuals can help you keep track of your assets and identify who should receive them when you are no longer alive.
Working with an estate planning lawyer can also protect your assets from improper distribution. In addition, your estate can receive legal challenges that are easier to fight with proper estate planning.
You Have Children
An attorney can tell you that it is vital that you name guardians for your children. Therefore, when you start having children, you need to start working with an estate planning lawyer.
You are responsible for the physical, emotional and religious upbringing of your children. However, if you are ever incapacitated or if you die before they become legal adults, your children will need new guardians. You don’t want the state to decide who gets to care for your children. Therefore, you should discuss guardianship with individuals you trust who have the same values and adequate finances to care for your children. Get their consent. Then, you should meet with your estate planning attorney.
Contact an estate planning lawyer today!