While thinking to have an estate planning the main thing usually comes in your mind is, what should be included in the plan?
Many people are there who want their estate to be distributed among their inherited upon their death. So, Wills attorney Orange County will guide you well in creating a proper estate plan. Not only this there are several things you are needed to consider while making a well designed plan.
Here are some of the things which many of you should consider before meeting a lawyer:
Whether to have a will or a trust?
This is the first question to be asked by you in your first meeting. There is no need for every estate plan to have a trust if the will is satisfying all your needs.
A trust may be a right choice for those who want to acquire more assets in future. While deciding for the trust as the main element of your estate plan, think of your future investment plans and major acquisitions.
What else should you consider in your estate plan?
Estate planning is not about deciding who is going to get your wealth after your death. It is basically a well designed plan which will include everything, that is what should be done in case you become seriously ill.
It is recommended to include an advance directive which is also known as living will. This living trust in California gives you an ability to hire a health care representative which will help you in taking your health care decisions and also end of life decisions when you become unable to do so.
You have also an ability to give the power of attorney to a family member or friend whom you trust the most, due to which your appointed agent will manage all your business affair in your absence.
Thus thinking of the above-given questions before meeting a lawyer will help you in deciding whether your estate only needs a trust or only a will. You can also visit this website to know more about the estate planning.