When it comes to the possibility of making mistakes in Pasadena estate planning, the concerns run rampant in the estate planning attorney community. Many lawyers, especially those who focus on probate, see the falling out that occurs when a person doesn’t follow through with appropriate estate planning. This leaves family members, personal representatives, and even other beneficiaries left asking questions and being concerned about what the future looks like. Your Pasadena estate plan has to go one step further to truly accomplish your goals.
Although avoiding taxes is a common component of many estate plans and they can often be avoided with a good financial plan, estate planning goes so much farther than this. There are numerous different reasons to pull together an estate plan that have nothing to do with taxes.
Planning for a special needs family member, giving to charities, managing a business, succession planning for your own self in case you become incapacitated and unable to make your own decisions and planning for children and a prior marriage are just a couple of examples of why estate planning covers more than just the basics. These issues require far more than a beneficiary designation form to execute properly and should always be discussed directly with an experienced and knowledgeable estate planning lawyer.