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Estate Planning: Where Do I Start?

Estate Planning: Where Do I Start?

Estate planning is critical for families in Los Angeles of all financial backgrounds. Whether a family is of modest or substantial means, the best method to secure peace of mind in knowing that an individual's family will be provided for in all circumstances is through comprehensive estate planning.

Comprehensive estate planning can extend much further than worldly possessions. What would happen to your kids in the event of the unthinkable where you were no longer able to care for them? What do you want to happen if you are unable to communicate your health care wishes in the event you become incapacitated?

One of the most difficult aspects of estate planning is simply starting. Many individuals feel like this is a chore that can be postponed. Unfortunately, life can be unpredictable, so it is important that family and friends understand an individual's wishes and that there are legal documents in place directing loved ones after an individual's passing.

Further, there can for some be an aspect of discomfort surrounding estate planning because it can feel strange to think about the end of life and what an individual would like to happen when they are no longer with their loved ones. However, estate planning is far from being about doom and gloom. Rather, it is about protecting the physical and financial health of family, loved ones and yourself.

Thankfully, with the assistance of an experienced estate planning attorney, this process can be entirely pain free. As we age, life changes and the needs outlined in estate planning documents may become outdated. It is important to regularly look at a comprehensive estate planning document to ensure everything still makes sense. Estate planning is a smart solution for being prepared and securing peace of mind.

Source: Farm & Ranch Guide, "Women: Take charge on getting the ball rolling on estate planning," Michael Baron, Feb. 20, 2013