Law Offices of Keith Banks is here to help you with all of your estate planning needs. Your estate planning lawyer in Davis, CA, serves residents of Yolo, Sacramento, Solano, and Placer counties. We will work closely with you to ensure that your wishes are fully and completely reflected in your estate documents so that you control the future of your assets. Contact our team today to learn more.
Importance of Estate Planning
According to AARP, 6 in 10 Americans adults do not have a basic estate plan in place.
When asked by researchers why they did not have an estate plan, many stated they did not believe they needed one because they did not have any large assets.
Though planning can be an uncomfortable process, it is especially important for adults with children. An estate plan can protect your child's future and provide them with the opportunities they deserve. It can also ease the burden on your loved ones.
The absence of large assets does not mean that you do not need estate planning. There is much more to an estate plan than simple asset distribution. The Law Offices of Keith Banks
Estate Planning Services
- Trusts — Generally termed a revocable living trust, this allows for greater flexibility and helps avoid probate
- Wills — A tool to make your wishes known regarding property, care for minor children, and other considerations
- Special needs trusts — A tool that can preserve government benefits for an individual with a disability
- Durable powers of attorney — Allows a named person to make legal decisions on your behalf
- Advance health care directive — A document to state your health care preferences should you become incapacitated
Do Estate Plans Just Deal with Property?
No, they do not. An estate plan is an umbrella term for a number of legal documents that involve you and your belongings. Some of those documents, such as a trust or a will, do tend to focus on property. A power of attorney and an advance healthcare directive do not. If you do not have these documents, your friends or loved ones might have to file for a conservatorship, which is a serious legal hurdle, before they can help you.
Estate planning documents help answer such critical questions as:
- Who will take care of me if I become seriously ill?
- Who will pay my bills if I become incapacitated?
- Who can make medical decisions for me?
- Do I want doctors to take extraordinary measures to save my life?
Your wishes can also extend to passing on your values, as well as your valuables.