Estate planning is something that usually falls short on people’s to-do lists, but it’s actually one of the most important things you can do to protect your assets, property, minor children, and other loved ones down the road. An estate plan clarifies your wishes for what will happen to each of these things (or people), and when used properly in the event of your death or incapacitation, can leave your family members with peace of mind knowing that your last wishes will be properly carried out. It’s crucial that your wishes are legally compliant with California state law, and our El Dorado Hills estate planning lawyer can ensure that’s the case. Let us help you create a comprehensive estate plan that will protect your wealth and your family. Call Equal Justice Law Group today for a consultation to learn what your next steps are! 

Why Is Estate Planning Necessary?

Many people are often under the impression that estate planning is only for the rich or the elderly. Neither of these assumptions is true. Estate planning is for anyone with assets, property, or minor children.  When you don’t make the important decisions on the distribution of these things, the state of California will do it for you; your assets and property might end up in the wrong hands, and your minor children could be left with people they don’t know. Furthermore, if you become incapacitated without a proper estate plan in place, your family will be left with uncertainty of your preferences for medical care and might have to make decisions you otherwise wouldn’t want. Additionally, the lack of an estate plan will require that your family go through the treacherous probate process in order for your assets to be distributed to the correct beneficiaries or heirs. Probate can be time-consuming, expensive, and stressful during an already difficult time. This is the last thing your family needs when they should be focused on mourning their loss. 

Don’t put estate planning off because you think you’ll have time for it down the road; tomorrow isn’t a guarantee. An estate plan can eliminate financial jeopardy for your family and prevent your hard-earned assets from falling into the hands of creditors or family members they weren’t intended for. 

What Does Estate Planning Entail? 

There are several components to creating an estate plan that will shield your assets and save your family from the potential of financial devastation. An estate plan will help you establish several things, including: 

• How you want your assets managed in life, death, and incapacitation
• What you want for your family or business in the event of your incapacitation/death
• How your assets should be distributed or with whom you wish to leave your minor children

Many people believe that a last will and testament will safeguard all of these things, but that is false. While a will is a helpful and necessary legal tool, there are several others that will be needed as well, including but not limited to the following: 

• A living will 
• A medical power of attorney
• A durable power of attorney
• A trust

Many people attempt to “DIY” their estate plan to save themselves money and effort, but this can lead to costly mistakes down the line, as most of the online “DIY” templates lack the legal language that makes the estate plan effective. That’s why it’s important to always work with an experienced El Dorado Hills estate planning lawyer who can ensure you stay legally compliant. 

Trust Our El Dorado Hills Estate Planning Lawyer To Guide You Through The Process

We understand that the process of planning can feel overwhelming, but you don’t have to do it alone. While you don’t always know what the future will hold, you can start preparing for it now. Allow Equal Justice Law Group to help you draft an estate plan that ensures a smooth transition when life changes. Call today to schedule a consultation and learn about your options.