It’s very common to believe that you don’t have enough assets to justify having a will or trust. However, it’s important to have an Estate Plan in place anyway so that things would go as smoothly as possible if something were to happen to you.
An Estate Plan is a legally enforceable guidebook of directions and mandatory requirements that ensure your loved ones will both understand and honor your wishes in the event of a death or an unexpected tragedy. Each individual’s level of detail will vary but there are several important categories that need to be considered including Wills and Guardianship, Revocable Living Trust, Advanced Directive/Living Will, Durable Power of Attorney, Healthcare Power of Attorney, and plans for final disposition.
Your Estate Plan will act as your voice if you were ever incapable of communicating with your family as to how to handle your affairs. Without an Estate Plan, everything you leave behind (your children, your pets, your home, or otherwise) will be dispersed according to state law, which doesn’t always coincide with your personal wishes.
The attorneys at Long Bay Law can help you get started with a basic plan and then add to it as you acquire new assets or as your family structure changes. Under unique, specific circumstances we might advise you to add special types of trusts to your plan. Or, depending on your situation, we can set up a more advanced and comprehensive Estate Plan according to your needs.
Contact Long Bay Law TODAY and let’s discuss your situation. We’re here to help!