Top Three Reasons You Need an Estate Plan

Estate Planning Lawyer

People have a number of reasons that they seek out a real estate planning lawyer for help with an estate plan. Estate plans are more common than you probably realized. If you’re on the fence about an estate plan then you might want to learn more about what it means to have an estate plan and what benefits you may gain from it. As you consider it, check out three top reasons that people choose to have an estate plan.

Protect Assets

Many people choose to have an estate plan so that they can protect their assets. If you suspect that you have a lawsuit coming or that creditors will be seeking out your assets, then to have an estate plan can protect those assets. Now, you’ll want to have a financial plan alongside of your estate plan, but with the help of a lawyer, you can help protect your assets throughout your life as well as protect your beneficiary’s inheritance after your death.

Avoid Probate

Probate is a long, taxing process. Even if you have never dealt with probate, you probably know the stories. In fact, you are probably more familiar with the horror stories than the good ones. To have an estate plan means that your loved ones won’t have to suffer through court or wait for the inheritance. Probate can last years, not to mention, probate fees are generally high. Whenever you have to go to court, the costs will be higher than most want to pay. Likewise, when you have an estate plan, you don’t have to worry about family fighting through probate. Estate planning makes it simple and more cost-effective.

Protect Beneficiaries

One of the top reasons that any person chooses to have an estate plan is to protect beneficiaries. This can be minor beneficiaries or adult beneficiaries. Often with adult beneficiaries, outside influences or creditor problems can affect what happens with an inheritance. If you want to protect your beneficiary’s inheritance, then an estate plan may be the best option. Likewise, if you have a minor beneficiary, you need to have a guardian to oversee the minor’s finances.

When it comes to estate plans, there are several reasons why you may choose to have one. These are only three reasons that an estate plan might be your best bet. If you want to protect your assets, your beneficiaries and avoid probate, you need estate planning. For more information on estate planning, contact an estate planning lawyer as soon as possible.

Source: Estate Planning Lawyer Sacramento, CA, Yee Law Group

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