While there are a number of professionals who are experienced in insurance, taxes and accounting, there are very few individuals who have an in-depth understanding of retirement planning. Things such as long-term care, federal and state estate tax laws, guardianship for any minor children, Medicaid planning and retirement planning are all important aspects of the estate planning process. Hiring a Sacramento Estate Planning Attorney can help you, no matter your income level, with long-term care and estate planning so that you can feel confident that you will have long-term financial security.
The estate planning lawyer you hire can play a crucial role in your life, helping to establish things such as revocable living trusts, long-term care insurance, creating various powers of attorney and arranging guardianship for minor children. Some of the primary benefits offered when you hire a reputable and knowledgeable estate planning attorney include:
• Eliminate the guess work when it comes to understanding the probate process and all applicable estate taxes.
• Provides protection for your inheritances and assets.
• Ensures that you can provide for any special needs child without having to sacrifice important benefits from the government.
• Help and appoint a guardian for any minor children, rather than taking the chance of them going into foster care.
• Help to create a plan for Medicaid without having to lose your entire life savings to Medicaid estate recovery or nursing home care.
• Help to control the way that your assets are used by creating specific conditions and directions in the living trust.
• Reducing the legal fees, court costs and estate taxes all while maximizing your estate assets.
• Give you the ability to bequeath any assets to distant members of your family or friends, or even charities that would not typically pass if there was not trust document or will.
• Provides you the ability to arrange your assets so that you have the ability to leave behind some types of inheritance for your loved ones.
Planning your estate is a process that is ongoing and that will involve a number of life decision. In most cases, it is not suggested that you take a do-it-yourself approach to planning your estate. If you do not follow the proper procedure or fail to sign a document, then it can completely change the intentions of a document and result in a will contest, leaving the distribution of your estate in the hands of the court.