An estate planning attorney in San Fernando Valley can help secure your financial future in several ways. Such an attorney is well-versed with the manner in which federal and state codes dictate how your estate may be cataloged, appraised, and shared in case you die or become severely disabled by sickness. Owners of any assets and properties are strongly encouraged to involve estate planning attorneys in the development of a plan for the control and dispersion of their assets for that time when they won’t be able to do that themselves.
An estate planning attorney will help you create a will and designate your beneficiaries. Similarly, the expert helps create a durable power of attorney and medical power of attorney. As part of your estate plan, the lawyer will also come up with tax-efficiency measures meant to limit taxation to all your earnings and financial investments.
Your plan is not complete if the lawyer has not yet considered ways to legally side-step the probate court process, which may be costly and prolonged. That’s the job of your estate planning lawyer, who may also be called a probate attorney. Don’t forget to ask the attorney to establish a trust that you may need to secure your assets should you suffer severe mental/physical disability and also to guarantee your beneficiaries’ welfare after you die.
An estate planning attorney may be engaged for a lifetime commitment or just a short time. This lawyer can briefly work someone given a power of attorney pertaining to the assets of an individual that just died, helping them through probate proceedings in a court of law. It is still possible to have an estate planning attorney look at the specific types of assets in the estate of the deceased as well as the provisions for how these assets are to be legally transferred, with a view to helping someone with the power of attorney avoid probate proceedings all together.
When you stand to benefit from a will, such as after the death of a family member or someone close you dependent on, but a beneficiary or a party that’s not designated as such proclaims that they’ll challenge the estate of the deceased in court, move quickly and enlist an estate planning lawyer to safeguard your best interests. In some instances, these court cases can quickly drain the estate’s finances and leave dependents with meager funds or nothing at all to survive on for the rest of their life.
It’s best for people to establish practical programs to manage their assets before they’re gone forever. With the help of an estate planning attorney, you can have this plan that guarantees your own welfare today and the welfare of your beneficiaries after you’re gone.