For many, estate planning is something that is often moved down the priority list, but realistically, how early should you start estate planning? The answer is right away! Ideally, estate planning should be started at a young age with adjustments along the way. However, even if you are past your youth there is no better time than right now, to get started with estate planning.
Here at the Tacoma Elder Care, we provide specialized estate planning and can work with you to ensure you get a plan started and that your wishes are met. If you haven’t chosen an estate planning attorney yet, we hope you will contact us for a free consultation.
Or better yet! Join us for one of our FREE Workshops! You can find out more and register for a workshop HERE.
Estate Planning Is More Than Just A Will
While estate planning and creating a will have some things in common, they are not synonymous. If you already have a will and have been counting on that to be the only document you need, then it is time to learn more about estate planning.
A will is simply one component of an estate plan. It is an extremely important component, and if you do not have a legal will created yet, now is the time to do so. A legal will allows you to leave your property and assets to those you choose and designates legal guardianship in the case of minors in your care.
Estate planning, however, involves more than just a legal will. Estate planning should also include the following:
What Happens If All You Have is a Will? Avoid the Loss of Funds and Time in Probate…
While no one likes to contemplate their death, estate planning requires you to think about what will happen to your loved ones and all your assets after you are gone. When you pass away, everything you own will be distributed according to your will. However, if you only have a will, the process becomes lengthy and potentially expensive. This is where the process of probate comes into play.
Probate is the judicial process in which a will is proven. And keep in mind, no one will be able to access the resources you left behind until probate has completed. This takes place in the court of law and often includes a number of costs including attorney charges and litigation costs. If anyone contests the will, the process becomes even more lengthy and time-consuming.
Not only is probate lengthy and costly, it will also ruin any privacy you and your family hope to retain after your death. Every part of probate becomes public record, leaving many people to feel that their family’s privacy has been compromised.
The good news is that through proper estate planning, you can avoid this unfortunate scenario. We can help you draft living trusts, establish charitable donations, and other tactics that will help make the process much smoother. At Tacoma Elder Care, we are committed to helping our clients through the aging process. We understand how confusing the system can be and how difficult it can be to make the right choices for your future and the future of your loved ones. We are here to help you avoid issues, such as probate, through proper estate planning.
How to Ensure Your Wishes Are Honored
Lastly, there is no better time than now to start estate planning to ensure your wishes are honored both in life and in death. We can help you create the documents you need to make sure your medical care is handled exactly the way you wish it to be if you should be incapable of making decisions. We can also ensure that when you pass away, everything is handled precisely the way you want.
We understand how important it is to honor each person’s individual wants. We believe in empowering our clients to make the necessary decisions now to ensure the future is handled with care. We welcome you to talk to us about your estate planning questions. When you come to us for help, we will walk you through the following multi-step process:
If you realize that now is the time for you to get to work on estate planning, we are ready to help you. Please reach out to us today. We will work hard to ensure you put together the right plan for your specific needs and your own unique wishes. Or sign up for one of our FREE Workshops!
10/8/2019 09:42:11 pm
Estate planning is not a joke and as a person we all have our needs that will make us righteous, as early as now we should learn how to manage our assets so that we can have more assets in the future. The money or resources that we have will be doubled. A person that has a lot of knowledge about this can be our guest that will assist us to achieve those dreams. The needs should be listed and we should learn to prioritize the little expenses for it may go a long way.
12/12/2019 11:03:03 am
Thanks for mentioning that trusts allow you to keep much of your assets from being overly taxed when being distributed to people or organizations. My wife and I are looking to ensure the financial future of our children for long after we are gone and don't want the money we already paid taxes on to be taxed heavily again when it is transferred along to our kids. I will be sure to hire an estate planning service near us so that we can start investigating our options when it comes to wills and trusts.
2/13/2020 10:37:16 am
Thanks for explaining that living trust can help prevent our assets from being affected by probate. My husband and I want to meet with an estate planning attorney within the next couple of weeks so we can have peace of mind about the future financial security of our two children. I'm glad I read your article and learned what we should discuss when talking about our options with a lawyer!
Bob Michaels, Tacoma Elder Care
2/14/2020 02:45:08 pm
That’s great! If you can attend one of our free workshops you can learn a lot. Or, contact me today to set up a free consultation at 253-627-1091, firstname.lastname@example.org
Bob Michaels, Tacoma Elder Care
2/14/2020 02:48:10 pm
Thank you! That’s great to hear. Keep in mind you can always attend one of our Free Workshops where you’ll learn a lot. Or you can contact me directly to set up a free consultation at 253-627-1091, email@example.com
2/27/2020 12:26:18 pm
Thanks for helping me understand how early should I be starting estate planning. What you said about how I can give someone the power of attorney was interesting to me. I don't want to be incapable of deciding for myself but who knows, right? Having a person with this power can put me at ease since I know they'll be choosing the correct answer when the time comes.
4/3/2020 08:06:12 pm
I like that you mention that estate planning is more than just a will and that it is important to create a will along with any other estate planning items such as power of attorney. My husband's parents have just started thinking about what they want to happen after they die. I think they should consult with a professional with experience in estate planning for help.
5/15/2020 05:24:06 am
I didn't know that estate planning should also include designating a power of attorney and having an advanced directive! I would imagine it to give peace of mind to the one about to pass to know that their loved ones will be well taken care of in the event of their death. My father was diagnosed with pancreatic cancer last month and we were all sad to hear from the doctor that he might not even make it to Christmas. I will have to talk to him about planning out his death and making sure his wishes were fulfilled before he leaves us.
5/20/2020 01:04:40 pm
It's good to know that you should start estate planning right away. My husband and I were talking about making a will a couple of days ago and we were wondering what time would be best to start. We'll have to look into hiring an estate planning lawyer to help us with making a will!
5/23/2020 05:41:26 am
Thank you for pointing out the various legal documents we should include when we decide on estate planning. My friend was diagnosed with lung cancer and the doctor said he has around 10 years left. He recently told me that he was thinking about planning out his death in case he couldn't survive cancer. As devastated as I am about hearing his news, I think that I should direct him to a lawyer who can help him with estate planning and other legal documents in case of his passing.
6/29/2020 03:28:28 am
I've never thought about estate planning and you make some compelling points about the importance of estate planning right away. I also never knew the difference between a will and an estate plan. Thanks for explaining the difference between the both and that an estate plan should include designating a power of attorney. Now I know that this person will have the control to make all kinds of decisions, such as financial and health-related decisions, in the event I am incapable of doing so. I will be sure to iron out all these details and engage an estate planning attorney to draw up my will and estate plan.
6/30/2020 08:38:21 pm
Thanks for helping me learn more about estate planning. I had no idea that you can use this to distribute any of your assets if ever you get incapacitated. My friend is getting paranoid over this pandemic and he's starting to wonder about what will happen to his immediate family if ever he dies because of it. I'll share this with him and suggest that he talk to an estate planning attorney asap.
8/10/2020 10:55:52 am
Thanks for the tip to create a legal will right now. I have never thought about planning my estate until the other day. I'll look into creating a will later this month. I don't want anything to happen to me and my kids are left without anything.
8/25/2020 01:56:48 am
Thanks for some great tips. Estate planning should be done as early as possible to secure your child future.
8/26/2020 11:28:53 am
I liked what you said about how an estate plan is made from a will, the power of attorney, trusts, and a living will. My mom has always had really bad health but with the diseases going on she is really nervous about how things will go and she wants to make sure that she can get everything in order so that the family will still be protected whenever things go wrong. Getting a professional to help her put together her will could be really useful and allow her to be a lot more relaxed.
9/9/2020 11:21:40 am
Such a great blog. Thank you for the tips. Everything was explained very well and clear. I appreciate it very much.
9/9/2020 11:30:38 am
Such a very beneficial article, thank you for the reminders and advises.I truly appreciate this blog
10/19/2020 08:07:45 am
I had no idea that estate planning can include your living trusts. My dad has helped me gain living trusts throughout my youth and now as an adult. I'd like for my kids to get them someday If I pass away early.
10/29/2020 06:45:14 am
Thank you for pointing out that estate planning does involve trusts where it allows you to keep some of your assets outside of the probate process. A friend of mine just told me that he is worried about his children well being if he happens to pass away all of sudden. I will suggest to him planning his estate by hiring a service that can help manage his assets and properties so his children will be taken care of well in case he dies.
11/9/2020 06:32:14 pm
I never knew that estate planning will also encompass naming our power of attorney. The other day my father informed the family that he has been diagnosed with stage 3 pancreatic cancer. I think it would be best if he hired an estate attorney to help draw out his will since he mentioned that he would like to be prepared.
1/25/2021 12:16:48 pm
It's great that you mentioned how important it is to estate plan as early as possible to ensure your demands are honored. One of my parent's friends recently passed away, and it turns out he didn't have an estate plan or even a will. And now, their whole family is a mess fighting over what each of them will get. It's sad to watch, and my wife and I don't want that to happen to us. That's why we are thinking about starting our estate planning. I think your article will guide us in the right direction. Thanks for the information about the benefits of early estate planning.
2/4/2021 09:17:24 am
I had no idea that trusts can help minimize taxation on your belongings and prevent the majority of your assets from getting involved during probate. My wife and I would like to make sure that our youngest nephew inherits our home once we pass away, but we're worried that he may have trouble handling the taxation process since he currently doesn't have a job and is still in school. Maybe we should consider finding an attorney that can help us set up a trust for the future.
2/25/2021 10:38:09 am
Thank you for mentioning that having a will allows you to choose what will happen to your property after you die. I'd like to make sure that my kids inherit most of my money, so I'm thinking about hiring an estate planning attorney to help me create a will. I'm going to look for a reputable estate planning lawyer in my area to use.
2/26/2021 09:10:18 am
Thanks for pointing out that estate planning is crucial for determining what will happen to your assets after you die. I'd like my children to inherit as much of my money as possible, so I'm thinking about hiring an estate planning attorney. I'm going to look for a good attorney in my area that offers estate planning services.
3/2/2021 11:59:42 am
It's valuable that you mention that an estate planning lawyer can help you create a living trust. I've been thinking about creating a living trust, so hiring an estate planning attorney sounds like a great idea. I'm going to search for a good estate planning lawyer in the area that I can hire.
3/3/2021 11:10:47 am
It's cool that you point out that it's a good idea to start thinking about estate planning when you're young. I want to make smart decisions for my family, so I'm thinking about speaking to an estate planning lawyer this year. I'm going to search for a good estate planning attorney in my area to use.
3/24/2021 08:34:40 am
I want to make sure that I get my assets split up properly. It makes sense that I would want to get a probate attorney to help me out with this. I'll be sure to get a professional to make things easier.
4/16/2021 04:37:40 pm
Thanks for explaining that if you only have a will, the process of distributing your assets can become lengthy and expensive. With that in mind, I'll start looking for a will and estate planning lawyer. That way, we can make sure that our children are cared for as soon as possible if they need it.
6/11/2021 12:44:24 pm
Thank you for talking about how you can avoid unfortunate situations by planning for your estate early. My husband and I want to make sure that we get our estate all taken care of this year. We will find a good local probate attorney service.
Thanks for pointing out that estate planning will help us know what to do with our loved ones and our properties once we pass away. I guess it would be best to get this done as early as now. It's to keep my kids safe and provided for if anything happens to me since I am a single mom.
8/20/2021 07:13:47 am
I'll have something in common between my estate planning and my will. A ton of people have told me that estate planning is hard to do on your own though. So I'll look into getting a lawyer to help me out with it so I don't make a mistake like making it the same as my will.
9/3/2021 03:07:11 pm
Thanks for pointing out that estate planning can allow us to keep much of our assets outside of the probate process. This is really helpful because my husband and I are planning ahead for our five kids' futures. With this, we are hoping to find an estate planning document preparer on Monday who can allow us to determine what happens to our assets and possession when we die and who will execute the will.
11/2/2021 10:50:25 am
Thank you for explaining how a will is only one part of estate planning and that there is more such as power of attorney and trusts. My friend has been thinking about making a will since having kids. I'll be sure to mention this to her so that she knows that she will have more to prepare just to be safe.
11/30/2021 05:11:24 pm
I like your legal tips. I need to get a lawyer. I was just arrested for a DUI.
5/26/2022 07:16:23 am
Thank you for explaining other parts of estate planning that aren't a will. I've been wondering what other things we should include with our estate plan. I'll be sure to talk about these other things with our lawyer.
6/23/2022 01:26:41 pm
This takes place in the court of law and often includes a number of costs including attorney charges and litigation costs. Thank you for making this such an awesome post!
6/23/2022 02:02:48 pm
We can help you create the documents you need to make sure your medical care is handled exactly the way you wish it to be if you should be incapable of making decisions. I’m so thankful for your helpful post!
8/9/2022 05:11:57 am
It made sense when you mentioned that a will is proven through probate. My friend is having a hard time drafting his will. I should advise him to seek guidance from an estate attorney.
9/17/2022 04:52:37 am
I found it interesting when you said that adjustments would come along that is why you should start early. Last night, a close friend of mine told me he was hoping to begin improving his will planning for his future retirement plan, and he asked if I had any thoughts on what would be the best option to consider. I'm thankful you explained the importance of planning, I'll consult a will and estate planning lawyer as they can help with the living will documentation procedure.
Leave a Reply.