What is Estate Planning?

The Law Offices of Vincent J. Russo, PC located in Newport Beach will help you and your family make sure that your lifetime of hard work through careful planning will benefit you during your lifetime and your family and loved ones after your death or disability. Lack of proper planning can cause costly expenses, unnecessary problems, court supervision of your estate, unnecessary taxes, delays, higher probability that your wishes will not be adhered to, and so forth. While proper estate planning on the other hand, produces your desired results which has a much more positive outcome upon a death or disability.

Some of the documents you may need to prepare in your estate plan are Wills, Trusts, Powers of Attorneys, Advanced Medical Directives, Durable Powers of Attorney, Special Needs Trusts, and so forth.

Below please find some of the issues that you should think about prior to a proper estate planning consultation with your lawyer that would assist an estate planning attorney in advising you regarding your estate planning concerns:

1. Who are your intended beneficiaries of your estate?
2. Whom do you want to make healthcare decisions for you if you become disabled?
3. Whom do you want to be the guardian of your minor children in the event something happens to you? What types of medical care (or lack thereof) do you want if you are incapacitated and can not make the decisions concerning your healthcare?
4. Whom do you want to manage your assets and personal affairs if you become disabled or pass away?
5. Whom do you want to settle your financial affairs and distribute your property after your death?
6. What do you want to happen to your property upon your death?
7. How can you minimize taxes, expenses, court supervision, problems or delays for your family if you become disabled or die?

Should you have any further questions, or if you would like to schedule an appointment with a lawyer please feel free to contact an attorney in our Orange County office as we would be happy to help you and your family with your estate planning needs.