Many people assume that estate planning is only necessary in cases involving considerable amounts of personal and/or marital assets. The truth is, however, that it may be in your best interest to account for the future of your estate if you have children or any kind of property. Being familiar with the many types of arrangements that can be made in the event of your passing can go a long way to ensure that your loved ones are provided for according to your wishes. Beyond that, having the proper documentation in place can also guarantee that your own safety and well-being is protected at all times. It is for that reason that we here at the Law Office of Roland R. Esparza, P.C., are committed to providing comprehensive estate planning services to our clients.
When it comes to handling affairs relating to your own medical care and personal finances in the event of illness or injury, it may be reassuring to know that there are estate-planning arrangements that you can make now. For instance, assigning power of attorney to a trusted family member or other eligible party can give you the opportunity to choose who is allowed to make important financial and/or medical decisions on your behalf. Establishing a living will can also help to guarantee that your wishes are fulfilled, as it can outline specifications for the level of medical care you wish to receive in the event that you are unable to communicate.
Other estate planning arrangements can be made to provide for any children and/or loved ones in your life. Creating a living trust establishes a beneficiary for which your assets can be assigned, avoiding probate entirely in many cases. While making a will can eliminate any potential confusion about how you would like your assets distributed upon your death, and even account for care plans for any children you leave behind.
There are several other types of arrangements that can be made in the estate-planning process. Learn more about creating wills and other family law services by visiting our web page today.