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Your Estate Plan Can Help Protect You, Too
A comprehensive estate plan does not just protect your assets, wealth, and values: it protects you, too. Even if you are single and do not have children, you should still have a contingency plan for worst-case scenarios. What would you do if, for instance, you were involved in a serious car crash that left you incapacitated and unable to make decisions on your own?
Even a simple will gives you the power to:
- Grant someone the health care power of attorney, allowing them to make medical decisions on your behalf. If you do not grant anyone the health care power of attorney, your physician will guide your care based on what they believe to be in your best interest. This could mean putting you on life-support indefinitely or cutting you off before you have been given a fighting chance.
- Grant someone the financial power of attorney, allowing them to make financial decisions on your behalf. If you are sick or fall into cognitive decline, you can let a trusted friend or confidante access your accounts and manage your funds, so that your business and livelihood are not endangered in the meantime.
If you believe that at some point you may require special care or assisted living services, you can even establish a special trust to responsibly provide for your care when you are no longer in a position to live independently.
How an Estate Planning Attorney Can Help
An estate planning attorney will help you review your existing estate plan, as well as the totality of your assets, including financial accounts, material possessions, and real properties. We use our understanding of California estate and probate law to ensure that your plan aligns with your goals, values, and aspirations.
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