In Saratoga, finding the time to start estate planning can be hard, especially when it feels like you don’t know where to start or what all might be involved. For most, estate planning something they put off until later in life because they believe that that is when they will use it. Unfortunately for some, this can be too late. In a simple definition, estate planning is when someone decides on what will happen to their debts and assets after they pass away. While we all want to think that we will live until we’re 100, it often isn’t the case – but when that time comes, we want our families to grieve without worry.
No matter what income class someone is, they can benefit from using a Saratoga estate planner. While creating a will might cover some things, a professional estate planner will ask you questions that you will never have thought of by yourself. These professionals help plan for the unexpected to ensure everything you own goes to the proper people or places that you would like them to go after you pass on. Because every person has different wishes and a unique lifestyle, using a generic estate planning guide online just won’t cut it when it comes down to what you truly need in a plan. In order to get a customized plan just as unique as your situation is, using an estate planner is crucial.
How Does Saratgoa Estate Planning Work
Many different factors come into play when estate planning. Not only is it important to figure out where the physical assets of an individual will be going or being passed on to, but how debts will be paid is just as critical. Something many people neglect to plan for is if they become incapacitated – most would want a spouse or family member to be making key decisions, but without spelling out an Advance Health Care Directive and General Durable Power of Attorney, the right people might not be granted this authority.
Even though the process might seem long and drawn out, this is an aspect of planning that should never be skipped over. You spent your life building up assets, reducing debts, and gathering family heirlooms for a reason – to be able to pass the things you love on to your family. When you start estate planning, you’re just ensuring everything has a proper place after you pass on. As you begin the process of planning, utilizing the skilled help of a professional estate planner in Saratoga is your best bet. An estate planner or elder law attorney can help you consider all aspects and situations that might arise as you get older, as well as prepare you for what might be to come. We can assist you in preparing for nursing home and other long-term costs with the help of Medi-Cal along with planning for your spouse’s expenses after you pass.
What is Saratoga Estate Planning?
Frequently Asked Estate Planning Questions
Do I really need to appoint a Durable Power of Attorney?
It is highly recommended when estate planning that a Durable Power of Attorney is appointed. If anything happens to you, this Durable Power of Attorney would be able to make decisions regarding your finances, legal documents, or even things to do with health care. This person should be someone that you trust to keep your things in order for you while you are unable to do so – most often this is a spouse or family member.
Why do I want my family to avoid probate?
Probate is an extensive court process that is required when there is either no will, or a dispute on where someone’s belongings should end up after they have died. For families, this could mean that they are battling the state to receive a car, house, or other things that someone left behind. Probate can be very complicated and might even cause disputes between family members as each person might believe they know what the deceased person might have wanted over the other. This can accrue a lot of court and lawyer fees in order to battle, and most people don’t want to force their families through the process (which is why they start an estate plan with a will or trust that spells out exactly what they want to happen).
At what age should I start my estate planning?
The answer to this question will vary depending on the person, but the best time is now. For the most part, you can never be too early in your estate planning as you never really know when something might happen to you or a family member. By preparing early and getting the process in place, you won’t be left fumbling around unprepared and worried if the time comes unexpectedly for a family member. With the right fully encompassing plan in place, your family shouldn’t have much to worry about when you pass away either.
Don’t wait any longer!
To receive your free initial consultation:
Call 800-JIM-WARD (800-546-9273)
Why Using a Professional Saratoga Estate Planner is Important
When it comes to taking care of your family, assets, and accounts, having an estate plan is crucial. With the help of a professional estate planner in Saratoga, going through the process can be a lot easier than if you were to try to do it on your own (and potentially forget about important things in the long term). Because of the diversity of clients we have worked with, we are able to completely customize an estate plan for your exact needs and specifications.
From broad planning to detailed steps, we are with you every step of the way. Not only can we help with your overall planning, but we can even help you prepare for your application for Medi-Cal when you need it. Don’t get stuck without a will or trust and force your family members to need to go through a lengthy, drawn out probate process to get your assets and accounts back. Once you are ready to take the step to start your estate planning to square everything away for your future, give us a call.