Sacramento, CA Estate Planning Lawyers

Why Is Estate Planning Important?

Life is full of the unexpected, and we do not know what will happen from day to day or in the future. It’s a tough truth to accept, but none of us are guaranteed tomorrow. Still, millions of Americans don’t take the time to get their affairs in order because they either believe they will have more time, or they are overwhelmed by the prospect of planning, or they think that it will be too expensive, or they don’t realize how critical it is to prepare, but procrastinating could be the worst thing you could do for your family. 

Should you become incapacitated or pass away without an estate plan in place, California laws will determine what happens to your assets and your family. If you become incapacitated, they may not know what you wanted in terms of medical care; this could lead to conflict among close relatives who care about you but think you would have chosen differently, and could even turn into an expensive and ugly court battle. If you pass away, you could leave your family in a tough financial situation; they will likely have to go through probate, an expensive and time-consuming court process, before they can inherit your possessions, which is the last thing they want to do when they’re mourning your loss. 

Taking the time to make an effective estate plan now can prevent your family from experiencing a messy, confusing situation later. It can also prevent the money you have worked hard to accumulate from being wasted on legal fees, taken by creditors, depleted by taxes, or squandered by family members you didn’t intend to get it.

What Does Estate Planning Entail?

An estate plan helps you legally establish:

• How you want your assets managed while you are alive
• How you want your assets distributed upon death or incapacitation
• What you want for your family or business if anything happens to you

A last will and testament that states who receives your assets when you pass would not cover every one of these circumstances, and it will not be able to bypass probate. You need a will and a variety of other legal tools, including: 

• A living will/advance directive (states your wishes for medical treatment during terminal illness)
• A medical power of attorney (gives a trusted individual the ability to make medical decisions for you)
• A durable power of attorney (gives a trusted individual the ability to make legal and financial decisions for you)
• A trust (a financial tool that helps manage assets during your lifetime and after death)

Many people attempt to “DIY” estate planning, but all of your important legal documents need to be customized to your specific needs and be up-to-date with the most recent California laws. Our Sacramento estate planning lawyers will take the time to get to know you, your financial situation, and your family dynamics so that we can explain which documents you should have and tailor them to your goals. 

Who Needs an Estate Plan?

It doesn’t matter how young and healthy you are; no one knows what the future holds. Anyone who owns possessions or has dependents needs an estate plan in place as soon as possible! You do not need to be wealthy to prepare for the future – this is a common misconception. However, an estate plan can be extra beneficial to you…

• If you own a business
• If you care for a disabled loved one
• If you have a blended family
• Or if you have any other unique circumstances that may require more careful and complex consideration.

Rely On Experienced Sacramento Estate Planning Lawyers To Simplify The Process

At Equal Justice Law Group, we realize that everyone’s life is different.  Unlike many estate planning attorneys, we don’t just draft confusing legal documents and send you on your way; our Sacramento estate planning lawyers, led by David Foyil, will take the time to invite you into the process. We empower you to choose wisely and understand how your estate plan will work for your family when they need it most! In our firm’s 21 years of practice, we’ve helped over 7,000 clients find peace of mind. Let us help you protect yourself, your loved ones, and your life savings. Call today to schedule a free, no-obligation consultation and get started.