Estate planning secures your family, preserves your legacy, and makes sure your own personal community is taken care of. Mostly, estate planning provides peace of mind. Estate planning isn’t only for the wealthy. Without an estate plan, there could be a lifelong impact on your loved ones, even if you don’t have an expensive home or a large investment portfolio. Estate planning prevents your assets from ending up with unintended beneficiaries, protects families with young children until they are 18, or children with special needs for a lifetime.
In circumstances where it is too late to establish an estate plan, probate or conservatorship cannot be avoided. The court procedures can be very expensive, complex and last longer than you’d imagine. As your attorney, my job is to lessen this burden, while helping you navigate through the winding road of this court-supervised process.
Did you know you could include your business in estate planning? You started your business to be a profitable entity for you and your family. An estate plan can secure your business, can provide a plan for the transition of your business, and may prevent certain taxes from being assessed. A living trust can also transition the ownership of trademarks and other intangible assets. In a nutshell, get in writing. A thoughtful plan, no matter how small your estate or business, will protect your loved ones when you no longer can.