Estate Planning WorksheetThere are numerous different reasons why you may need to set up a consultation with an experienced estate planning attorney as soon as possible. What follows are several of the most common reasons that your estate plan may need a lift. These include:

  • Wrongly titled or untitled assets. Sometimes the best laid plans can go up in smoke in the event that you have not properly titled the materials. The asset may be disposed of through your will or be passed on to a named beneficiary if it applies to your life insurance or IRA. Make sure that you retitle assets or change beneficiaries as your life circumstances change.
  • Naming family members as holders of power. By naming family members as your trustee or your executor, you could be putting them needlessly in the line of fire. This is not always the most appropriate selection for your loved ones or for the beneficiaries.
  • Leaving assets directly to beneficiaries. When you leave assets directly to beneficiaries, the inheritance that you intended to pass on to heirs may be unprotected from divorcing spouses, the beneficiary’s creditors and other lawsuits. Make sure that you carefully consider how a trust or other meaningful tool could help to add a layer of protection and to shield the assets as well.

Your Pasadena estate planning attorney can help you with this process so that you can avoid these mistakes now and in the future.

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