An estate planning attorney in San Fernando Valley can devise strategies that can guarantee your financial future. This lawyer has a comprehensive understanding of how different state and federal laws will influence the inventory, dispersion, valuation, and taxation of your estate upon your death or due to an incapacitating, severe disease. Owners of any assets and properties are strongly encouraged to involve estate planning attorneys in the development of a plan for the control and dispersion of their assets for that time when they won’t be able to do that themselves.
Your estate planning lawyer can help write your will and name specific beneficiaries. Likewise, the lawyer is involved in the establishment of durable power of attorney as well as medical power of attorney. As part of your estate plan, the lawyer will also come up with tax-efficiency measures meant to limit taxation to all your earnings and financial investments.
In a comprehensive plan, your attorney also takes care of lawful ways to avoid probate proceedings in court, which may be expensive and protracted. That’s the job of your estate planning lawyer, who may also be called a probate attorney. Don’t forget to ask the attorney to establish a trust that you may need to secure your assets should you suffer severe mental/physical disability and also to guarantee your beneficiaries’ welfare after you die.
Estate planning lawyers may be enlisted for a long-term project or short-term service. The lawyer may be asked to temporarily help someone assigned a power of attorney over the estate of a recently deceased person manage a probate process in court. When an estate planning attorney is good enough, they might help an individual with the power of attorney evade court probate proceedings after assessing the kind of assets inventoried in the deceased’s estate and how the assets are to be distributed according to the law.
When you stand to benefit from a will, such as after the death of a family member or someone close you dependent on, but a beneficiary or a party that’s not designated as such proclaims that they’ll challenge the estate of the deceased in court, move quickly and enlist an estate planning lawyer to safeguard your best interests. In a worst case scenario, such a challenge may very quickly deplete the funds of an estate, and in the end, there might be nothing meaningful that may sustain dependents from then on.
It’s advisable that you create an appropriate plan to manage your assets as long as you’re living. With the help of an estate planning attorney, you can have this plan that guarantees your own welfare today and the welfare of your beneficiaries after you’re gone.