So, you are in relatively good health, financially secure and estate planning sounds like a need in the far distant future. Can’t this just wait? The answer is no. If you care for your family and for yourself you need to address this now, before a crisis occurs.
You need to make plans for yourself while you are living.
– You need to specify who will make medical decisions for you if you can’t. This is handled by a Prior Medical Decisions Document (PMDD)
– You need to specify who will make financial decisions for you if you can’t. This is handled by a Durable Power of Attorney (DPA)
You need to provide for your family on your death and to avoid family frustration, during a very stressful period.
– Nominate Guardians for your children. This is handled in your will.
– Let your family know who should get your assets. This is done through a will or a living trust.
– Save your family taxes and attorney’s fees. In most cases a living trust can save thousands, hundreds of thousands or more in taxes and fees.
These steps are simple to do and are not expensive. A competent California estate planning attorney can discuss your needs with you and prepare the required documents in a few weeks. You can then be assured that your wishes will be carried out with the least stress on your family.
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