Some people view estate planning as a luxury for those that have wealthy estates. This could not be further from the truth. Everyone needs some sort of estate plan with the goal of avoiding formal guardianship and probate court proceedings. Without one in place, your loved ones will be forced to navigate what can be an expensive and time-consuming court system. Planning now will give you peace of mind, ensure that you are in control of your affairs, and alleviate the burden on those that will have to care for you and administer your estate.
When you own real property with equity value, a typical estate plan consists of: (1) a revocable living trust; (2) certification of trust; (3) pour-over last will and testament; (4) durable power of attorney for asset management; (5) health care power of attorney with an advanced health care directive; (6) personal property memorandum; and (7) all other ancillary documents required to properly fund your trust.
At HAYES | WAKAYAMA, we explain the importance of each aspect of the planning process, the tools involved and then we recommend an estate plan that meets your needs and goals. Otherwise, it would be a disservice to you. We endeavor to form and maintain lasting relationships with our clients, so that when life changes, we are there to help you implement any modifications to your estate plan along the way. And, when the time comes, we will be there to assist your loved ones in administering your estate in a seamless and cost-efficient manner. Call us today to schedule a free consultation (702) 656-0808.