Californians living in and around Sacramento are provided with significant economic opportunities where many people have built their own American Dream. However, Californians who have done well for themselves realize they have an obligation to both themselves and their family members to get their finances and affairs in order. In doing so, they can not only protect their interests in the distribution of their property, but also plan for incapacity and other unexpected life events. Taking action can make your wishes and desires known while also providing guidance for loved ones in regards to your wishes.
The attorneys of NewPoint Law Group can assist in developing individualized and comprehensive estate plans. Since all financial situations and goals are different, our attorneys work to develop a unique plan that best suits your goals. To schedule a confidential estate planning consultation at our Roseville or Folsom law offices, call 1-800-358-0305 or contact us online.
Estate Planning Can Mean Protecting Your Assets
One goal that is commonly pursued in estate plan is the protection of assets. Some common asset protection motivations include concerns about debts; claims to your property by former spouses, associates, or former business partners; and any other obligations your estate may be subject.
While the reasons behind asset protection plans are clear, the actual solutions to these problems are typically complex and nuanced. There is often a fine line between legally protecting assets and illegally concealing assets. The lawyers of NewPoint Law Group will consider your concerns and work to develop an estate plan that protects your assets while complying with all tax, Bank Secrecy Act, and related requirements.
Estate Planning Can Include Ensuring Your Loved Ones and Favored Charities Receive Property After You Pass
If you pass away without a will, it is highly likely that your wishes and goals regarding the distribution of your assets and property will not be fulfilled. When a person passes away intestate, then property is distributed according to the preferences set forth in California state law. This means that if your preferences do not exactly match those set forth in state law, your goals and wishes will not be fulfilled.
Therefore, for many individuals, the development of an estate plan that includes considerations of property distribution is essential. The estate plan may include only a will, a trust, or a combination of a will and one or more trusts. The exact nature of an estate plan is dependent on your goals and concerns. The estate planning lawyers of NewPoint Law Group can work with you to develop an individualized plan that addresses your concerns and goals.
A Comprehensive Estate Plan Contemplates Medical Issues and Potential Incapacity
An important and often overlooked part of any estate plan is considering your preferences and wishes in the event of a serious medical issue. Collectively, decisions of this type are often referred to as an advanced medical directive or a living will. The living will addresses questions like:
- What should family members do if you are incapacitated?
- Who should make medical decisions?
- Should your family member keep you on life support if you are in a persistent vegetative state?
- When does the living will apply?
- What steps should family members take if you develop Alzheimer’s or develop another condition that limits your mental faculties?
- Should you be placed in a nursing home? A hospice? Another long-term care facility?
These are in addition to any other medical questions that you would be unable to answer due to incapacity.
These questions only scratch the surface of the issues you should explore. However, these and other considerations are an essential part of any comprehensive estate plan.
Work with a Sacramento Estate Planning Attorney to Develop a Blueprint for Your Future
If you have concerns about planning for the future, the attorneys of NewPoint Law Group can assist. We will work to develop an estate plan that addresses all of your foreseeable concerns, including what happens to your property when you pass and how family members should handle difficult medical decisions. To schedule a private estate planning consultation, call our Roseville or Folsom law offices at 1-800-358-0305 today.