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Estate Planning is the practice of law geared towards arranging people’s assets and affairs in anticipation of incapacity or death. A typical estate plan may include a variety of instruments such as a Last Will and Testament, Trust, Power of Attorney, Legal Guardianship documents, and healthcare-related planning documents (Advance Directive, Healthcare Power of Attorney, etc).
A properly prepared and executed estate plan ensures that your wishes are respected and eases the burden on your loved ones. It may also reduce the tax liability on your estate and avoid the lengthy and costly probate process. Advanced methods of estate planning may protect your assets for future generations from claims by creditors like those encountered in lawsuits or divorce situations. Even if you have existing estate planning, your documents should be reviewed often to assess if changes in your life or the law make updates necessary.
There are a variety of estate planning strategies that can help preserve your hard-earned wealth for future generations. Advanced trust planning can provide benefits such as estate tax savings, flexibility for modern families, and protection of trust funds from beneficiaries' creditors.
An Intentional Estate Plan includes end-of-life planning and contemplates incapacity and the manner of care provided during periods of terminal or prolonged illness. By electing trusted family members or friends to make healthcare-related decisions, you can rest easy knowing that you are completely prepared.
Ms. Nelson is licensed to practice law in the State of California
Your Intentional Estate Plan is the greatest gift you can give your loved ones. When you work with Laura Rose Nelson to memorialize your wishes, you take the legal steps necessary to assist your family members with carrying out those wishes.