While you may have heard about estate planning and understand that people should draft a will, you may still have many questions. There is much more to a comprehensive estate plan than a last will and testament, and you should discuss your personal goals and needs with an estate planning lawyer in Carlsbad. The following are some common questions we hear.
What is the purpose of an estate plan?
Many people may think that an estate plan simply allows you to leave your money and property to specific people. While this is a main purpose of estate planning, there are also many other goals you can achieve with the right estate planning tools. Some other purposes include:
- Avoiding probate for your loved ones
- Protecting assets from creditors
- Controlling distributions to young or potentially irresponsible beneficiaries
- Planning for financial support of loved ones with special needs
- Deciding what happens if you become incapacitated
- Designating your preferred end-of-life treatment
- Long-term care planning
As you can see, an estate plan can help you and your family in many different ways.
What are some common estate planning tools?
To achieve the above goals, there are many different estate planning tools available. Some are more complicated than others, and you want to make sure you execute all documents properly since your finances, family, and your own well-being can be at stake. Our firm can help with many estate planning documents, including (but not limited to):
- Powers of attorney
- Advanced healthcare directives, including healthcare proxies and living wills
- Medical and special needs trusts
- Life insurance trusts
- Long-term care insurance
A lawyer can advise what tools will most benefit you based on your situation and goals.
Consult with an Experienced Estate Planning Lawyer in Carlsbad Today
McKinnon Law helps clients with a wide range of estate planning matters, and you should not hesitate to schedule an appointment with a Carlsbad estate planning attorney. Call 760.707.3373 or contact us online to learn more.