If you have young children, it is important for you to designate someone to raise your children if something happens to you. Designating a guardian in your Will or Trust to take care of your children should be your first priority.
In your estate plan, you should name someone to manage the estate assets for your children’s benefit. This person would be known as a trustee. It is okay for one person to be the guardian and trustee, or you can name two different people if you prefer.
If you are considering creating a Will or Trust, contact an experienced Riverside Estate Planning attorney who will put your mind at ease that you have provided for your loved ones in case of your death.
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I cannot tell my family, friends and clients enough that Estate Planning is so important to handle. By planning your estate, you are taking care of your family later on – they can avoid the nightmare of the probate process.
If you do not plan your estate, the State will handle your assets for you and your heirs. An estate plan has many advantages, which include the reduction or elimination of estate taxes and protecting your heirs from potential lawsuits with creditors.
In addition, it allows you, not the State of California, to designate a guardian for your children and to plan for possibility of you becoming incapacitated. An important advantage is that is maximizes the privacy of your financial situation.
Why wait? Contact an experienced Estate Planning attorney now and discuss estate and who you want listed as your heirs.
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Before you visit an experienced Estate Planning attorney, you should do the following:
· Make a list of your assets and how much they are worth
· Who will receive these assets and when
· If you are no longer capable of taking care of your assets, who will?
· Who will take care of you if you no longer can?
· Do you need a guardian for minor children?
· Funeral and burial arrangements should be decided
Once you have decided on the above, you should consult with an experienced and knowledgeable Estate Planning attorney who will create an Estate Plan designed especially for you.
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\\ tags: assets, attorney, California, Estate Planning, guardian, minor children, Will