Estate planning is one of the best things you can do for yourself and your loved ones. Having plans will save you, especially your family, money, time, and even uncomfortable decisions. If you live in California especially, you want to get the best professional help to guide you through the benefits of this very important process.
This is where the Keyes Law Group comes in. We will take care of every estate planning you need, from creating a valid estate planning form to ensuring you cover all your bases when drafting your wishes. We are especially convenient if you live in California, as we can connect you with an estate planning attorney in the Bay Area and other regions in the state.
There has been the myth that these plans only apply to people with a lot of wealth. This is incorrect as anything you own can be included in an estate plan, no matter how little. Things that you can make plans for include:
- Insurance
- The home you live in
- Your bank accounts
- Any vehicle you own
- Real estate
- Furnishing your home
7 Benefits of Estate Planning
Provide for your beneficiaries
An estate plan is the best way to keep providing for your loved ones. You can describe exactly which benefits they will receive and under which conditions to make the best decision for their long-term financial well-being.
Protect your children from social services involvement
Uncomfortable as it might be, you have to ask yourself some hard questions when you have children. Answering these questions will allow you to make plans for your offspring just in case something happens to you and your better half. Not only will you be able to decide who will become their legal guardian, but you can also make plans for details that people often do not think about.
For example, where they will spend the night on the fateful night of you and your partners’ demise. This is one of the benefits of estate planning that you can’t afford to ignore.
Minimize expenses and preserve wealth
Without an estate plan, the court is forced to handle everything from giving away your property, guardianship of your kids, and liquidating your business. The more time is spent in court, the more court officials and attorneys make, and it usually costs $10,000 upwards.
This could have also paid rent for your family for a couple of months, kept the lights and heat on, and even went towards feeding them. Without a plan, your family must wait for the court to handle the process while getting charged, not to mention they are already going through a difficult time.
You can get the property for your people quickly
Usually, without measures, your family can wait up to nine months to get benefits. Unfortunately, the bills and expenses associated with your death cannot wait that long. Possible hospital bills and funeral expenses can make a hard time much harder. Not only that, it will force them to beg for resources to give you a proper send-off.
It makes retiring more effortless
Among the questions to ask an estate planning attorney is how it can benefit you even when alive. Most people see it as something with utility only after you have gone and thus are not aware of how they can take advantage of estate planning in the days they have left.
Such an advantage is ensuring you qualify for government aid like Medicare. This can reduce your hospital bill both while alive and after you have passed.
Helps you continue any charitable efforts
You can choose to give to your favorite cause even after your demise. You don’t have to have millions to give to do something like this; even a little donation from you can help move the needle. If you’ve preferred causes or charities, you can still support them even after your death with proper planning.
Ensure continuity and success of your business
If you have built a business for a long time, you know how much effort and sacrifice it takes to become successful. Years upon years of continuous effort can fall apart in a short period should the wrong person replace you after death or, even worse, your own family runs it to the ground.
Let’s admit it; we don’t all have business leaders as family members. Sometimes, they should place the business in more capable hands. This will ensure the longevity of the business, and your family will still have you as a breadwinner even after you have gone.
An estate planning attorney Bay Area can help you draft and verify paperwork such as:
- Your will
- Beneficiary allocations
- Any trusts
- A durable power of attorney
An estate planning attorney in the Bay Area will make sure that you cover all your bases as they have experience working with many clients. Choosing experienced and proven attorneys like The Keyes Law Group ensures you will get the most out of your plan.
Call 408-766-7668 to speak to experts with over a decade in the field. On top of guiding you through the process, they also make sure to close any loopholes in your California estate planning forms to keep them enforceable and protect your wishes.