In times of uncertainty, you often wonder what you can do to protect your loved ones and leave behind a lasting legacy. Anything could happen that’ll change the entire dynamic of your family, which is why you need to have an up-to-date estate plan. You have to think ahead by properly managing your assets and planning inheritances for your heirs.
You might be wondering how you can benefit from having an estate plan and what it fully entails. Our estate planning attorneys in Clairemont want to answer those questions and explain why estate planning will make a massive difference for your entire family. Here’s what you need to know.
What is Estate Planning in Clairemont?
Estate planning is taking control of your assets and property through legal processes. You don’t have to be wealthy to have an estate plan, and creating one can help you accomplish your future goals. Regardless of whether you have a simple family dynamic and estate or if you’re part of a blended family and run your own a business, it would help if you had all the protections available ahead of time.
You can also address different needs with an estate plan; for instance, you can determine the type of healthcare you want to receive if you were to become incapacitated and determine who should make financial decisions on your behalf. Estate plans can also include other special authorizations, such as designating someone to run your business when or if you cannot.
In short, you can plan and protect against several pain points through estate planning. We understand how crucial it is to take the initiative and make all the necessary decisions to protect yourself and your family. If you were to pass away suddenly without an estate plan, your family would have to pick up all the pieces in a public Court process.
Why You Need an Estate Plan in Clairemont
Rather than having your family figure everything out, you can determine how you want to distribute your assets after you pass away and make things a smooth as possible for them. Not only are you taking control over your estate, but you’re making life much easier for your surviving family members and setting them up for success. This is where our estate planning attorneys in Clairemont come into play.
Also, with no plan in place (or the wrong plan), your estate will be probated. This could significantly affect the way your assets are divided among heirs and potentially go against your actual wishes. Probate laws govern the entire process, and they often aren’t consistent with your true intent. However, you can take matters into your own hands by designating your beneficiaries and setting aside inheritances for your loved ones in a way you control. Our Clairemont estate planning lawyers will walk you through this process.
What’s Included in an Estate Plan in Clairemont?
An estate plan in Clairemont typically includes several different legal documents and techniques that serve different purposes. Our estate planning attorneys in Clairemont recognize that no two estate plans are the same, but they usually incorporate the following documents as a foundation:
Revocable Living Trust
Last Will & Testament or Pour-Over Will
Durable Power of Attorney
Advance Health Care Directive
You’ll help safeguard against incapacity and establish how you want to divide your assets through these documents. This includes 401(k) plans, life insurance, bank accounts, investments, business interests, personal property, real property, and other private equity.
Schedule a Consultation with Our Clairemont Estate Planning Attorneys Today
You need to hire a reliable attorney to help craft and create an estate plan that accommodates all of your needs. Here at Jenkins & Jenkins, we provide services for residents of Clairemont and the greater metro area in San Diego. Our goal is to make estate planning much more convenient and offer you advice on setting everything up. Schedule an appointment with us today, and we can help you get started.