All too often, people who do not fully understand the value of preventative and comprehensive estate planning forgo such planning, and are left without adequate recourse in the event of some unexpected situation resulting in incapacity or death. Popular perception is that estate planning is the sole purview of the old, the wealthy, and the ill — the image of a rich man signing their Last Will and Testament on their deathbed is one that has been burned into the retinas of Americans over the years. This could not be farther from the truth, however. Comprehensive estate planning is an important and valuable consideration for nearly all Americans, from working class families, to young couples, to single professionals, and everything in between.
To understand why estate planning is so critical, it’s necessary that you understand just how significant and extensive the effects of estate planning (and the lack thereof) are in the event something unexpected occurs.
Let’s take a look.
Comprehensive estate planning involves more than just determining the distribution of assets to your desired beneficiaries (the people who will receive your property) after death. In fact, proper estate planning must take into account a variety of situations that do not involve fatal incidents at all.
Estate planning can help you to:
Estate planning documents include, but are not limited, to:
Though most people unfamiliar with estate planning assume that it is solely for executing the distribution of assets after death, this seriously underestimates the broad application of comprehensive estate planning.
For example, suppose that you and your wife are relatively young and healthy, and have just given birth to your first child. Even if you have not built up substantial monetary or real estate property assets, comprehensive estate planning will allow you to create a trust to provide some amount of financial resources for your child’s health, education, and care as they grow older, in the event that you are rendered incapacitated or dead. You may also want to set up a trust to avoid probate, so that your surviving loved ones can receive necessary assets as soon as possible, rather than wading through an inefficient probate process to do so.
Comprehensive estate planning that is customized to your particular circumstances demands the efforts of a skilled estate planning attorney with years of experience helping individuals and families prepare for their futures.
Attorney Daniel H. Chambers has dedicated his career to helping clients successfully resolve their various family law and estate planning issues. He understands that comprehensive estate planning for can be a difficult and overwhelming process and is personally available to answer any questions or concerns you may have throughout the process. To discuss your concerns with a Hoover, Alabama estate planning lawyer, contact Daniel H. Chambers, Attorney-at-Law, PC by calling 205-913-4057. You can also schedule your initial consultation by contacting Attorney Chambers online.
We have used Daniel Chambers for legal services on several occasions since 2007 with excellent results. He has assisted our family in each matter with a professional yet tenacious manner. He has always been upfront about possible outcomes and honest about how to appropriately deal with challenging situations. I have recommended him several times over and will continue to do so. He has been an incredible asset to have on our legal team and we have always been satisfied with the results.
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