PROTECT YOURSELF AND LOVED ONES THROUGH ESTATE PLANNING
Aug. 26, 2015
If you have the means to do so, almost everyone - including veterans - might want to consider setting up a formal legal plan to protect your assets. This plan can protect you and your children, while protecting your eligibility for government benefits.
In general, by protecting yourself and your loved ones through proper estate planning, you will create peace of mind. While you may be healthy now, you do not know if or when something may happen to cause legal incapacity or death.
A Will makes a statement about where you want your assets to go when you die. You can also prepare a separate document called an "Ethical Will" that memorializes your life experiences and values. While not a legal document, it can be valuable to survivors and tell your life story. Other legal documents, such as a Living Trust, will avoid the pitfalls of the probate process. Probate is a court process that validates your will. It can become expensive and time consuming.
A legal plan can protect your surviving spouse, children, and other loved ones. It can safeguard assets meant to be inherited by your children from creditors and ex-spouses. Incapacity planning can make sure your wishes are followed in regard to medical care when you can't speak for yourself.
The Elder & Disability Law Firm in Grand Terrace, CA and surrounding cities can help veterans and others with estate planning needs.