Family estate planning services let you plan for the distribution of your estate and future healthcare needs. When setting up your plan, consider all possibilities and create a plan that covers all bases. An estate planning attorney in Irvine, CA, knows how to guide you through the creative process. Continue reading to find out how estate planning secures the future for you and your family.
Devise a Power of Attorney
A power of attorney grants a loved one control over your assets according to your needs. For example, the designation lets the family member pay your bills or use your assets during a predetermined time. In addition, you can set limitations, such as preventing them from selling assets.
Healthcare Proxies and Living Wills
A living will state if you want extraordinary measures during a medical crisis, including life support. By designating a healthcare proxy, your family member decides what treatments you receive and when to take you off life support. An estate planning attorney in Irvine, CA, sets up healthcare proxy assignments and adds instructions for the family.
Wealth and Asset Distribution
You have many options for distributing your wealth and assets in estate planning. Moving assets out of your estate and into an irrevocable trust lets you choose a successor who gains control of the trust and all its assets when you die. A trust fund lets you distribute money to a specific loved one, and a legal will divides assets among your loved ones.
Families create an estate plan to protect assets and wealth and direct loved ones if the estate owner cannot care for themselves or manage their estate. Suppose you hire an estate planning attorney in Irvine, CA. In that case, you create an estate plan that addresses your needs and aids your family in tough decisions.
