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Most people will agree that estate planning is important, but many put it off until it is too late. Whether they are uncomfortable discussing the topic of what will happen after they die or they think that their own estate is not large enough to warrant an estate plan, a large percentage of people in Roseville and nationwide simply do not get around to implementing an estate plan while there is still time. Of course, once you need an estate plan, it will be too late to do anything about it. Don't postpone creating an estate plan until it is too late. Come to Herrig & Vogt, LLP for help from a team of Roseville estate planning attorneys with 24 years of experience.
By taking the time now to draft and implement a set of estate planning instruments, you can give yourself the peace of mind that comes with knowing that you have a plan in place to provide for your loved ones after you have passed away. Furthermore, your estate plan can include provisions to ensure that you can make your wishes known in the event that you cannot speak for yourself due to injury or illness, as well as appointing someone you trust to oversee your affairs. Some of the most common estate planning options that we recommend for our clients include:
The simplest type of estate plan consists of a will, also known as a last will and testament. A will allows you to specifically state how you want your estate to be distributed upon your passing, rather than leaving it up to the arbitrary dictates of state law. Wills are normally required to pass through the process of probate, during which the court oversees the distribution of the estate and the payment of creditors. In some cases, however, the estate will be small enough to avoid probate.
If you are concerned with helping your loved ones avoid the stress, expense and delays associated with probate, as well as keeping your personal affairs private, you may benefit from creating a trust. With a living trust, also known as an inter vivos trust, you can maintain control over the items that you place in the trust by naming yourself as the trustee, with a successor trustee to assume control upon your passing or incapacitation. Anything that you place in the trust will no longer be legally part of your estate, meaning that it will not be subject to probate or estate taxes.
Given the enormous costs of end-of-life medical care, many Americans are now choosing to write a living will, also known as an advance healthcare directive. With a living will, you can clearly state your preferences concerning the type and scope of treatment that you would want to receive in the event of an incapacitating illness or injury. By doing so, you can also spare your loved ones the anxiety and emotional distress of being forced to make difficult choices and then wondering if they have decided correctly.
A power of attorney is a legal document that allows you to name another person as your attorney-in-fact, thereby granting that person the authority to make decisions and act on your behalf should you become incapacitated. The attorney-in-fact can oversee your estate and handle your affairs when you cannot speak for yourself. Similarly, you can use a healthcare proxy to appoint an agent to make decisions about your medical treatment, such as if something comes up that is not addressed in your living will.
We serve clients throughout Placer County, Sacramento County and El Dorado County, and we are ready to get started on your case with a minimum of delay. As soon as you have decided that it is time to take action to create an estate plan, contact our Roseville probate attorneys by phone or online for a free case evaluation.
At our law firm, our legal team brings more than 100 years of combined experience to every case. Several of us our top-rated by peers for exceptional ethics and legal ability, known for delivering client-centered counsel for any legal issue. Discover how we can be of service in a no cost, no obligation case review.