Arcadia Estate Planning Lawyer

Planning your estate can be a complex process that often brings an array of emotions with it. There are many areas to get in order and several details to be mindful of in doing so. If you are feeling overwhelmed at the thought of setting your estate in order, an Arcadia estate planning attorney can help. They can not only advise you regarding state laws, but can also support you as you make difficult and personal legal decisions.

The Importance of Drafting a Will

While drafting a will may not be something you consider if you are young and leading a healthy lifestyle, there are numerous ways in which having a will can be beneficial for anyone. The amount and types of assets you have may influence the type of will your lawyer advises you to draft, but the important thing is to begin the process.

Since 2015, less than 50% of adults in the United States report having a will. While there are countless reasons why a person may not have a will, the following are some benefits of drafting one:

• If you have children, a will allows you to set out any wishes you have regarding their guardianship should you no longer be able.
• Specifically stating, in writing, what your wishes are regarding your finances and assets can protect your family from confusion and conflict upon your passing.
• In a will, you have the ability to appoint an overseer of your estate.
• In a will, you can set forth your wishes and desires regarding your funeral, which can ease the stress and pain of your loved ones.

Risks of Not Having an Estate Plan

While it can feel morbid to discuss, it is important to have a plan in place should a tragedy or unexpected crisis occur. The absence of an estate plan or will can create confusion for your loved ones, guardianship issues for minor children, inefficient or undesirable distribution of your funds and assets. Having a plan can also decrease the probability of your loved ones being required to go through the process of probate, saving them both time and money.

What Is Included in an Estate Plan?

An estate plan is generally drafted in a way that personally fits your circumstances and wishes. The goal is to manage the specifics of your estate, including all of your assets and finances. For those with children or pets, instructions regarding them are also included. Documents that may be part of your estate plan include a Will, Trust, Power of Attorney, Health Care Directive, and others.

It is important to understand that everyone’s estate plan will be different. This is one reason why it can be helpful to have the guidance of an experienced estate planning attorney. At Robert G. Petrovich, Attorney at Law, we handle each case with personalized precision and care, analyzing the details of your estate to help you build a plan that works for you and your loved ones.

Our office is located at 2975 Huntington Drive, Suite 201, San Marino, CA 91108. However, we serve clients throughout the San Gabriel Valley area as well as those in Orange County.

FAQs

Q: How Can Estate Planning Prevent Family Conflict?

A: Estate planning is one way to decrease family conflict. In making plans regarding your home, assets, bank accounts, and other personal belongings, you are openly communicating your wishes with your loved ones. Taking this step can help decrease the amount of confusion they may feel upon your passing. Additionally, intentionally allocating certain items to family members can be one way of continuing to extend your love and legacy once you are gone.

Q: What Is Included in My Estate?

A: Your estate includes any property or asset that a person owns at the time of death. Some obvious examples may include your home, vehicle, real estate, cash in your bank accounts, and more. However, your estate also includes retirement plans, interests you may own in a business, benefits from life insurance, and more. An estate planning attorney can help ensure you appropriately distribute all of your assets and leave nothing unprepared.

Q: How Early Can I Begin Estate Planning?

A: While there is no magical age at which a person should begin estate planning, it can be helpful to begin sooner rather than later. Depending on the amount and type of assets you have, your marital status, and other variables, it can be significantly effective to begin planning out how you wish for your estate to be handled. Once you have assets of any kind, even a simple will in place can be beneficial for both you and your family.

Q: Do I Need a Lawyer for Estate Planning?

A: There are numerous state and federal laws associated with estate planning, meaning that it can be relatively easy to make a mistake in the process if you are unfamiliar with the intricacies of such laws. While you are not necessarily required to hire a lawyer, an experienced estate planning attorney can help guide you through the legal complexities while also offering legal advice that is pertinent to your specific situation.

Robert G. Petrovich, Attorney at Law

It can be daunting to consider what exactly you wish to be done with your Arcadia-based estate, which includes everything you have worked for your whole life. The decisions associated with drafting a will or creating a trust will have serious implications, meaning that it is vital to take each step with precaution and care. Attorney Robert Petrovich and our law firm understand the complexities of this process and are ready and equipped to guide you the entire way.

If you are thinking of beginning the estate planning process or have already found yourself frustrated with the complexities of it, contact Robert G. Petrovich, Attorney at Law, today. We have helped many clients create strong, personalized estate plans that bring clarity and comfort to themselves and their families. We are here to help you do the same, and to answer any questions you may have along the way.