Estate planning is the process of making plans in advance and formally naming people that will receive parts of an estate when a person passes away. Estate planning is an essential part of managing your property, money, investments, and belongings.
Because state laws generally regulate estate planning, it is vital to hire an estate planning attorney to ensure your estate doesn’t get handled arbitrarily by the state. It is best to have someone experienced in state laws manage the affairs of this nature.
States have very complicated laws regarding estate planning and will dictate what can be included in a will or trust. They also govern over essential issues such as financial or medical power of attorney, trustees, advocates for health care, personal representatives. There are also specific rules to follow when creating and signing relevant documents including wills, trusts, and power of attorney.
Estate planning attorneys in Santa Ynez Valley, CA can help sort through the state laws and provide expert legal representation.
They can also help families sort through many complex issues with finances. An attorney can work to create legal protections for second marriages, business ownership, real estate across several states, investment accounts, and tax advice as it applies to investments and home or land ownership.
It’s best to consult an estate planning attorney so that a family is not left to deal with probate lawyers and the state Department of Revenue.
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