October 29, 2013
There are times in life when it is obvious that people in the Sacramento area should start meeting with a trust and estates attorney. For example, it’s more obvious that seniors need to get their estates in order than younger people do. While some situations are more urgent than others, there are actually quite a few indicators that you’re ready to start estate planning with an attorney.
Again, advancing age is often the thing that spurs clients to start thinking about their estate planning needs. You’ve spent your life working to earn what you have, and with the approach of retirement and other reminders of aging, people start thinking about what will happen to their assets when they die.
Births and Adoptions
Welcoming a new child into your family brings so many “firsts” along with it. For many people, this is the first time they realize the need to work with an estate planning attorney in Sacramento. Not only are there issues such as planning for college or your child’s financial future without you, but there is the even more pressing matter of naming legal guardians in case you die or become incapacitated. If you want to have a say in who cares for your children when you can’t, having an estate planning attorney draw up the proper documentation is a necessity.
More and more adults are caring for their aging parents these days. Along with that responsibility often comes the realization that Mom and Dad haven’t done any estate planning, or that the documents they created 10, 20 or even 30 (!) years ago are no longer sufficient. Additionally, you will likely need to put some powers of attorney (for medical and financial reasons) in place, and that is also something that a Sacramento trust and estates attorney can assist you in doing.
Military personnel are often put in situations of great personal and physical risk. It goes without saying, then, that their families understand that there may be a time when tragedy follows. Estate planning with an attorney can help to determine how parents, spouses, dependent children, and others will be cared for should the military member pay the ultimate price.
Another cue that it may be time to choose an estate planning attorney is when an individual is facing a major illness. Estate planning isn’t just about figuring out what happens to your assets when you pass away, but also how your affairs will be handled if you are unable to care for yourself due to illness. It makes sense to work with an attorney to set up a medical power of attorney, a living will, and other related documents that will be in place whether your illness is temporary or terminal.
These are certainly not the only life events that cause a need for estate planning, but they are among the most common changes that make us stop and realize that need.
If you are facing a life transition that now requires some level of estate planning to take place, we encourage you to contact our Fair Oaks law firm at (916) 241-9661 and ask to schedule a comprehensive Peace of Mind Planning Session absolutely free with the mention of this article.