December 20, 2010
While many people focus on getting out of debt or getting organized for the New Year, estate planning is an equally important personal finance goal that should make every adult’s to-do list.
That’s because resolving to get your legal affairs in order is one of the most important things you can do to make sure your family, wishes and assets are protected if something unexpectedly happens to you this year.
As a probate lawyer in Sacramento, I know that far too many area residents are without plans to protect the people and things they love the most should tragedy strike. In fact, a recent lawyers.com survey further reveals that only 35% of adults have a basic will or other estate planning documents in place should death or incapacity occur.
That is why I always say that at a bare minimum every adult needs a basic will (and perhaps a trust), a power of attorney and health care directives in place to avoid a legal and financial catastrophe if something unexpectedly happens.
This has nothing to do with how much you are worth either. Far too many people believe they have to be ultra-rich to justify putting such legal documentation in place. On the contrary, if you have children, own your own home or have other assets such as a life insurance policy, retirement funds, investments, etc., you NEED the estate planning documents I talked about above.
So what exactly are these documents and how do they help you in a time of emergency? Let me give you a brief crash course:
Remember, accidents and serious illnesses happen every day without warning. That’s why it’s so important for any adult who has not yet tackled their estate planning to add it to their resolutions this year. It will ultimately save your family from years of headaches and thousands of dollars in unexpected costs should the unthinkable happen.
Not sure where, or even how to get started?
Give me, your neighborhood Sacramento estate planning lawyer a call at (916) 241-9661 and ask to come in for one of my comprehensive Peace of Mind planning sessions. These sessions are normally $750, but if you mention this article, you can come in free of charge. However, these sessions are limited to 10 per month so be sure to call reserve your spot today!