You could summarize this subject in one sentence: It’s extremely important for anyone to have the assistance of an estate planning attorney. Unfortunately, many people don’t take important steps such as creating a will, establishing a living trust, or making other arrangements for distribution of assets after death. Many of these individuals simply decide against this action, justifying their decision by stating that they “don’t have that much anyway.”
Accurate Advice
This can present serious problems. It’s that simple. You will always benefit from having your assets properly titled and from having a living trust that’s reviewed and updated as needed. Contact an estate planning attorney in Santa Barbara, CA to discuss such plans as charitable donations, life insurance trusts, health care directives, tax status questions, irrevocable life insurance trusts (for estate planning and tax planning), designating someone to control digital property, and many other often complex issues.
If you’re a business owner, you might want to work with a legal professional to develop an exit plan to make sure that you’ve properly provided for heirs and to direct activity in case of your incapacity. Tax questions can also be correctly handled by an estate planning attorney. They can assist with state taxes, federal and state taxation of new companies, property tax questions, tax reporting, filing for tax-exempt organizations, and taxation on limited liability companies.
There’s More
There is definitely a lot more to handling your estate than just creating a basic will. You will be best served by getting in touch with a legal professional who can help you put your plans into motion. Visit our website for more info. Not only will you have a will in place but you can discuss such subjects as durable power of attorney and healthcare directives.
Talk to a representative today about creation of your estate plan. It’s one of the most important decisions that you can make.
