July 30, 2013
Will and trust lawyers in Fair Oaks, CA recognize that there is no one-size-fits-all approach to estate plans. Every situation is different, and each person needs individualized attention. While there are services that offer cookie-cutter forms that will supposedly allow you to set up a decent plan, there is no comparison to working with an actual estate planning attorney who can work with human understanding to meet your real needs.
For example, the needs of women have been changing dramatically over the past several years. Gone are the days when a woman was expected to stay home and live on an “allowance” if her husband chose to give her one. Instead, so many women today have their own jobs, their own finances, and their own desire to protect their assets.
Older Women and Widows
In addition, women typically live longer than men. So, even if the husband was originally in charge of working with the will and trust lawyer, once he has passed away, the widow has an entirely new set of needs. She needs to make sure that her estate is able to support her as costs continue to rise, as well as to determine what she would like to have happen to her assets after her own death. She may even need assistance understand the estate and how to handle the finances. This is especially true and frightening for the woman who has never handled the finances.
Not all estate planning lawyers in Fair Oaks are current with the times, either. There is still a tendency to create trusts that will “take care of them” without them actually having any say over the contents of the trust. Today’s women are often quite capable of managing their own finances and are better served by having flexibility to grow their funds rather than being restricted by the trust.
There are plenty of reasons that a younger woman needs to meet with a Fair Oaks will and trust lawyer, too. In the case of a single mother, nominating a guardian is critical in case of the mother’s death or incapacitation. If a guardian is not legally named, the courts will step in and choose a guardian for the child without taking the mother’s wishes into consideration. An estate planning attorney may also advise younger mothers to consider setting up a trust for their child(ren) and maybe even to look into life insurance policies that could be used to fund the child(ren)’s future.
Whether married or not, many younger women have careers and would benefit from retirement planning in this earlier stage of life. By being proactive early on, a woman can set up her 401k and other accounts to make sure she realizes her long-term financial goals. Looking to retire young, to pay for your kids’ college, or to travel the world? A Fair Oaks will and trust lawyer can help put things in motion now to make that a reality later.
If you have a significant other in your life, it makes sense for the two of you to work together with the estate planning attorney to make sure that your goals align and that your plans are compatible. Your attorney can help you properly deal with “his, hers and ours” to ensure that your assets are titled properly and that your financial house together is built on a solid foundation.