What is Estate Planning

Jan 6, 2020 | Wills, Trusts & Estates

Estate planning is a very important service that most people don’t think of until too late. The grief of dealing with a loss of life is a burden that can make the strongest person weep. Thoughts of funeral arrangements are often the first things that come to mind. But do you know what will happen to your personal belongings? Many people assume it will go to your next of kin, but that is not always the case. This is where an estate planning attorney makes a difference.

Estate planning involves making arrangements for your personal belongings in the event of death. Everyone has an estate, not just the extremely wealthy. Your estate is composed of any bank accounts, real estate, vehicles, retirement savings and pensions, life insurance, and even furniture. In the event of your death, without an estate plan, you may find items in your estate may not go to your next of kin or someone who you desire to inherit items in your estate.

An estate planning attorney will ensure your possessions are managed and distributed appropriately. Taking the steps now to properly identify all your assets and how they will be distributed will ensure you can rest in peace, but even more importantly, that your loved ones can focus on grieving and not the stress of maneuvering through the legal process of identifying and managing your assets.

The Young Law Firm will thoughtfully put care into the future distribution of your property to your loved ones by drafting wills, trusts, powers of appointment, beneficiary designations, powers of attorney, and property ownership. The Young Law Firm’s extensive experience to protect the administration of you and your loved one’s estate in the face of a direct challenge to its validity. Don’t wait until the need for an estate planning attorney is upon you, contact us for a free consult today.