If something were to happen to you today, would your loved ones be protected tomorrow? Nobody likes to dwell on these things, but it is important that you secure your legacy and protect your family by establishing an estate plan. An estate plan is more than just a written will, it is a collection of documents that can establish your wishes and secure funds, assets, and more for your loved ones. If you need to create an estate plan or revise any existing documents, our firm can help.
To schedule a free consultation with our firm, call (800) 996-9930.
There are a number of documents that can compose an estate plan, but the most essential are wills and trusts.
Wills: A will is the most basic element of an estate plan. It designates how your assets will be divided after your death and to whom. In a will, you can also appoint legal guardians for any minor children you have.
Trusts: Trusts also appoint certain assets or funds, but in a more organized fashion. A trust will transfer property to a beneficiary but may be handled by a trustee until the beneficiary is qualified to control the trust. In most circumstances, the beneficiary may access their trust when they reach a certain age.
Estate plans may also include power of attorney and advanced healthcare directives. For help with your basic estate planning needs, contact our attorneys at Wadhwani & Shanfeld.
Creating a will and/or trusts will not only ensure that your spouse, siblings, children, and other loved ones are provided for, but it can also safeguard your own wishes. If you do not have an estate plan, you risk the trouble of your estate going into probate. Probate can be extremely tiresome, complicated, and expensive. To avoid the unnecessary trouble of putting your loved ones through probate, create a clear, legally binding estate plan.
Contact Wadhwani & Shanfeld to schedule a free consultation with our Palmdale estate planning attorneys.