Are you wondering what would happen to your family if you were to pass away suddenly? Estate planning is something that we often overlook, and without it, your heirs will likely have a tough time recovering the assets you leave behind. Allow our estate planning attorneys in Pacific Beach to explain why it’s much better to have a solid plan in place.
What is Estate Planning in Pacific Beach?
In simple terms, estate planning determines how you want to manage and distribute your assets after you pass away or become disabled. You get to determine who receives your property and how they receive it. An estate plan in Pacific Beach will account for every unexpected situation, such as death, illness, or injury.
What Does Estate Planning in Pacific Beach Include?
An estate plan usually consists of several essential documents, such as a Last Will & Testament, Financial/Medical Power of Attorney, and guardianship designations. These documents all have different functions, and none of them supersede the other. Here’s what you can achieve through estate planning with an estate planning attorney in Pacific Beach:
- Control and determine how you want to distribute your property/assets
- Appoint people to make financial and medical decisions on your behalf if you were to become incapacitated
- Nominate guardians to take care of your minor children.
Many estate plans also include a living trust, which gives you even more control over your assets. They’re helpful for families that own property, have multiple beneficiaries, or who wish to optimize how assets pass to a loved one. Living trusts also allow you to prevent heirs from squandering their inheritances, and when properly drafted can protect an inheritance from future creditors.
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
- HIPAA Release
- Guardianship Designations
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.
Explore Your Options and Build Your Legacy with an Estate Planning Attorney in Pacific Beach
If you’re unsure where to start, we can help guide you in the right direction. Our estate planning attorneys in Pacific Beach want to discuss your goals and create a plan to achieve them. We understand all the intricacies of asset management and can go over all estate planning considerations with you. Life-changing events can also complicate your plan, so you need to communicate with Pacific Beach estate planning lawyers about your goals.
You also may want to leave behind a lasting legacy. You can make gifts or designate assets to the organizations of your choice. You can also be impactful and support different causes after you pass away, should you wish.
Custom Strategies for Managing Your Estate
It’s not enough to merely protect your assets from Probate Court. You also want to grow your wealth and help your family prosper. We can identify and bring about the ideal combination of documents and techniques to bolster or optimize your estate plan. Ultimately, you have the power to manage your estate the way you see fit, and with a proper plan you can give a gift of more than just an inheritance.
Still Not Convinced? Schedule a Consultation with Our Estate Planning Attorneys in Pacific Beach
The bottom line is that estate planning is incredibly beneficial for families that want to be ready for a potential event. We understand that you’d prefer not to think about a future when you’re no longer around for your loved ones. However, having a plan ensures that you can prepare for the worst and protect your family.
If you want to learn more about estate planning, go ahead and contact us here at Jenkins & Jenkins today. We’ll supply you with enough information to make an informed decision during an initial consultation. Ultimately, we want to accommodate all of your needs and simplify the process of planning your estate. Our attorneys also serve clients in Pacific Beach and throughout San Diego.