Sparing Surviving Loved Ones From An Estate Planning Nightmare
Although the estate planning messes left behind by famous celebrities are the ones that make the headlines, legal battles over the estates of noncelebrity decedents is not that uncommon.
A recent news article in the Detroit News offers a number ideas of matters to consider when you are planning your estate (Remember, however, that each person’s estate is unique. It is important that you speak with an estate planning lawyer about the particulars of your estate so that he or she can advise you, as well as help you select the best estate planning tools for your needs):
- If you decide to make a will or trust, make sure that you name all of your beneficiaries and are clear about who gets which of your assets.
- Remember to appoint an executor or trustee to manage and distribute your assets after you are gone. It is important that you choose an executor or a trustee that you know you can trust and who is capable of doing the job.
- Remember to update your will on a regular basis to make sure that it reflects your most current wishes—especially if you were recently married, divorced, had a new baby, or acquired or sold any property.
- Explore and consider all of your estate planning options. You may want to set up a trust in addition to a will, so that some of your assets don’t get stuck or spent in probate. You also may need to set up a testamentary trust for a child’s education or a special needs trust for someone who has special needs.
- Evaluate whether to incorporate retirement accounts, annuities, properties, and insurance into your estate plan.
- Leave specific instructions as to where you wish to be buried or if you would like to be cremated.
- Let someone know where your will can be found in the event of your untimely death.
- Don’t put off creating your estate plan.
- Speak with an estate planning attorney who can help you make your will, set up your trust, etc.
At Sagaria Law, P.C., we can advise you on setting up your estate plan—whether you need help making a will or setting up a specific kind of trust. We can also advise you on who to appoint as your executor, as well as help you make a living will and any other estate planning documents.
With our offices conveniently located in Monterey, Fremont, and San Jose, our estate planning attorneys represent clients throughout Santa Clara County, Alameda County, and Monterey County, including the cities of Burlingame, Campbell, Cupertino, Oakland, Carmel, and Morgan Hill. To schedule your free consultation with Sagaria Law, P.C. contact us today.
How to avoid an estate nightmare, Detroit News, February 17, 2007
Related Web Resources:
Estate Planning FAQ's, American Bar Association
Estate Planning, Cornell Law School
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