If you want to be certain that your wealth stays in the hands of your chosen heirs, you need to create an estate plan. This process will be much easier if you hire an estate planning attorney in Menlo Park, CA, to do it for you.
An estate planning attorney has the knowledge, experience, and connections to build your plan: including a trust, advance health care directives, power of attorney, and a Will. Doing this in advance can help you find the best method to ensure your family’s financial stability and happiness long after you’re gone. However, with all of the different lawyers and law firms out there, how do you know which one to choose?
Do you need an estate plan?
If you have any assets or property, it’s important to have an estate plan in place. This will ensure that your wishes are carried out and that your loved ones are taken care of after you’re gone. But how do you choose the right estate planning attorney?
Is Trust right for you?
A living trust or a revocable trust can be a great way to protect your assets and your loved ones, but it’s not right for everyone. Before you decide to create a trust, you should sit down with an experienced attorney to discuss your options.
What is involved in trust planning?
When it comes to trusts, there are a few different types that you can choose from depending on your needs. You can have an irrevocable trust, which means that once the assets are put into the trust, they cannot be taken out. There is also a revocable (or living) trust, which allows you to make changes to the trust as needed. This type of trust is often used for asset protection.’
What are the steps involved in hiring an attorney?
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Do your research
There are many trust planning attorneys in Menlo Park, so you’ll want to take the time to find one that best suits your needs.
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Schedule a consultation
This will give you an opportunity to meet with the attorney and get a feel for their personality and how they would handle your case.
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Ask questions
During the consultation, be sure to ask any questions you have about trusts or estate planning in general.
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Get a second opinion
It’s important to weigh all of your options before making a decision. You should speak with at least two lawyers before finalizing one. Once you’ve chosen an attorney, it’s crucial that you maintain open communication throughout the process — don’t hesitate to ask any questions that come up along the way!
When should I update my estate plan?
Updating your estate plan is important whenever there is a change in your life that could affect your assets or your beneficiaries. This includes changes like getting married, having children, buying a home, or experiencing a significant financial windfall. You should also review your estate plan periodically, even if nothing has changed, to make sure it still reflects your wishes.
Are there special considerations when using a revocable living trust?
When you’re looking for an estate planning attorney in Menlo Park, it’s important to find someone who is experienced and knowledgeable about the special considerations that come with revocable (living) trusts. This type of trust can be a great way to protect your assets and ensure that your wishes are carried out after your death, but it’s important to work with an attorney who can help you navigate the complexities of this type of estate planning.
Takeaway
Some people avoid using trusts because they believe that trusts are only for wealthy people. Others think that setting up a trust is too complicated or time-consuming. And some people simply don’t understand how trusts work. At CASHMAN LAW, we help people seeking an attorney’s assistance in estate planning or advice on the probate or trust administration process. Thank you for taking the time to read my blog. If you would like to receive notice as each new blog article is posted, fill out the “Contact Us” form and indicate in the comments section that you would like to receive an email. Your information will not be shared, and you will not be contacted for any other purpose, unless you specifically request it. If you’re looking for experienced family estate planning counsel dispute lawyers in Honolulu, HI or San Mateo, California, connect with us at 650-319-6801 or 808-460-0436 today. Also feel free to visit my website for dozens of free blog articles and answers to frequently asked questions. Whether Legacy or Business Planning, Contact CASHMAN LAW today to get the Plan You Deserve.™
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