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.
Your estate planning lawyer can help write your will and name specific beneficiaries. Likewise, the lawyer is involved in the establishment of durable power of attorney as well as 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.
In a comprehensive plan, your attorney also takes care of lawful ways to avoid probate proceedings in court, which may be expensive and protracted. That’s the job of your estate planning lawyer, who may also be called a probate attorney. It’s also vital for the lawyer to create a trust that protects your estate for your own good during your lifetime, like when you’re incapacitated, and to take care of your beneficiaries upon your death.
You may hire an estate law lawyer for lifelong planning or only for a limited time. Such an attorney may briefly liaise with a person possessing a power of attorney regarding the estate of a lately bereaved client toward managing a court probate case. When an estate planning attorney is good enough, they might help an individual with the power of attorney evade court probate proceedings after assessing the kind of assets inventoried in the deceased’s estate and how the assets are to be distributed according to the law.
If you’re named as a beneficiary, and a fellow beneficiary (or an individual not named as such) announces their intention to sue the estate of a lately departed relative or a person of whom you’re a named dependent, talk to an estate planning lawyer right away as it’s the only way to guard your interests. It’s possible for such lawsuits to eat into the estate’s funds pretty quickly, leaving beneficiaries with little or nothing to guarantee their welfare going forward.
It’s always great to have a proper plan for the management of your assets while you’re still alive. Hopefully, you’ll have an estate planning lawyer create this program so you can enjoy your life while it lasts and protect the future of your family after you’re gone.