Proper estate planning can eliminate questions before someone’s family may have about an individual’s assets or final wishes. When a parent tells a child what their healthcare directives are, they should still be legally documented. A child will not be able to make the necessary decisions on behalf of their parent’s health without the proper legal directive. There are various legal avenues someone can choose to establish their estate. There are many different types of trusts that can be established. Someone can sign a power of attorney in regards to their money or property for use even before they’re deceased.
An Estate Planning Service in Reno NV will offer sound legal advice and help someone determine how their assets should be managed now or when they’re unable to. They will help someone establish the proper business planning that’s needed after their passing. Estate planning is much more than writing a will. Medical, tax, business, and financial planning are parts of the estate planning process. During the planning process, an individual should consider:
• The approximately value of assets they have.
• Who they want to give these assets to.
• Whether an individual is has been chosen to be responsible for caring for any minor children if you’re unable to care for them.
• If someone has been selected to make the medical decisions if you’re unable to communicate.
After determining the answers to these, the Estate Planning Service in Reno NV will continue smoothly. An individual does not have to be a millionaire to require estate planning. Designating and individual to make the right choices for you is the important part of life planning. If an estate is small, an individual may choose to have the money paid out after their death. If an individual’s estate is large, an attorney will help someone preserve their assets and reduce the amount of taxes that may be owed after they pass away.
If an individual doesn’t plan ahead, a judge will have to be appointed to determine what will happen to your assets and medical treatment. The Law Office of Todd L. Torvinen has been in business for over 25 years serving satisfied customers that need estate planning.