There are many aspects to estate planning near Tracy and Livermore. A lawyer can help you by preparing your last will and testament, drafting your advance healthcare directive, and finalizing other important documents. However, it’s important not to overlook another key aspect of estate planning : Discussing your decisions with your adult children. Some parents prefer to discuss estate planning with each adult child separately, while others prefer to disclose this information during a family meeting.

Decide Which Information to Share

Meet with your lawyers to finalize the details before broaching this topic with your children. Decide ahead of time whether you will share specific information, such as the amount your children might expect to inherit. If so, it’s typically best to underestimate this amount, just in case your living expenses are greater than you plan for. Or, you might only wish to tell your adult children that they will have an inheritance without specifying a dollar amount. This is a decision left to your discretion; however, keep in mind that if you have established trusts for your children, it may be wise to explain the basic structure of the trust.

Discuss Family Heirlooms

If you have jewelry or other family heirlooms to pass down, you have the right to decide who will receive which item. However, you may wish to bring up this issue with your adult children to prevent any future disagreements. You can always have your estate planning attorney amend your will to reflect your children’s preferences. For example, one child might prefer to receive antique furniture, while the other may be more interested in family historical records.

Explain Practical Considerations

Even if you prefer not to tell your adult children exactly what they can expect to inherit, it is a good idea to let them know that you have made a will. Let them know where they can find your important documents in the event of your death, who will administer your estate, and what steps they must take in the aftermath of your passing. Consider writing a list of people they can contact, such as your estate planning lawyer and financial advisor.

If you are hurt in a car accident , you should consult with a personal injury lawyer near Tracy or Livermore. Your lawyer will make sure you are properly compensated, whether through a settlement or in trial.

Only a personal injury lawyer knows the value of a claim, which is why you should never attempt to settle with a car insurance company on your own. If you attempt to settle without consulting lawyers, you could end up accepting far too low of an amount. An injury lawyer can evaluate your case to determine how much money you may be entitled to—and what is fair to ask of a car insurance company. If you are hurt and desperate, you need an attorney to fight for your rights.

If a loved one has died in an accident, you have the right to consult a personal injury lawyer near Tracy and Livermore to discuss whether you have the basis to file a wrongful death lawsuit . Meadow Rain Walker, the daughter of the late actor Paul Walker, did just that following the 2013 crash that claimed her father’s life. The young woman’s personal injury lawyer is demanding compensation on her behalf from the defendant automaker, Porsche. In her complaint, her attorneys have alleged that had it not been for certain design defects, Paul Walker may have survived the crash.

You can watch this video to learn more about this wrongful death lawsuit or consult an accident attorney to discuss filing your own lawsuit. This news clip explains that Meadow Walker’s lawyer alleges the model of Porsche that Paul’s friend had been driving trapped Paul in the passenger seat. Otherwise, Paul may have been able to escape the car, which quickly became engulfed in flames.

You may already know that every adult should explore the basics of estate planning with an estate attorney near Tracy and Manteca. Although a last will and testament is often the first document that comes to mind when one is thinking about estate planning, a revocable living trust could be just as important. A living trust is a legal document that establishes control of any assets placed into the trust. For many people, setting up a living trust makes good sense for financial and practical purposes. Consider talking to a living trust attorney to find out if this arrangement could be right for you.

Would You Like to Retain Control of Your Assets?

A living trust may be appropriate for you if you’re looking for a way to plan for the future while currently maintaining control over your assets. When your attorneys establish a living trust, you are named the trustee. In other words, you aren’t forfeiting control of your assets just yet. In the event that you pass away or are declared incapacitated, control of the trust is transferred to the trustee whom you have designated.

Is Privacy Important to You?

When a decedent’s estate goes through probate, his or her financial affairs become a matter of public record. If you value your privacy, you can speak with an estate planning lawyer about creating a living trust, which will never become a publicly accessible record. This is an attribute of living trusts that may be particularly attractive to individuals with substantial wealth and those who are known to the public, such as elected officials.

Could Your Heirs Benefit from Avoiding Probate?

Many people consult a lawyer about establishing a living trust because they want their heirs to avoid the probate process upon their death. Probate can take months to finalize and in the meantime, heirs may need financial assets to take care of funeral costs and other expenses. When your successor trustee assumes control of the living trust upon your passing, he or she can distribute assets in a matter of weeks.

When you begin early estate planning near Tracy or Livermore , you have the opportunity to thoroughly protect your assets and ensure your dependents’ financial security. Visiting an estate planning attorney to draft a last will and testament, health care directive, trust, or powers of attorney is a very prudent financial decision, and something that can be done at any age. Here is a look at some valuable estate planning tips for people in their 40s or younger.

Start as Early as Possible

Many young people believe they don’t need to worry about estate planning because they don’t have a high net worth, or have few assets. In truth, it’s almost never too soon to start thinking about basic estate planning. Even if you only have debts and no assets, estate-planning documents will help your loved ones handle your finances after you’re gone. Additionally, you never know when you might become seriously injured or ill. A living will and power of attorney allow you to designate someone you trust to make important medical decisions for you if you’re unable to make them yourself.

Focus on the Basics

When you’re under the age of 40, you only need to focus on the basics of estate planning. Your estate planning attorney should advise you that you can most likely do without certain more complicated estate planning documents, like trusts and probate documents. The most important components of your estate planning when under 40 are a health care directive, life insurance, a last will and testament, and a durable power of attorney. These documents will ensure that both you and your family are protected should something happen.

Use Experienced Estate Planning Attorneys

While many companies sell estate planning kits online or in bookstores, you shouldn’t try to complete such complicated documents on your own. Your family might find out at the worst possible time that they don’t hold up in court, or that information is missing or unclear. You should instead visit an experienced estate-planning attorney who is familiar with estate planning for those under 40.

Slipping and falling is usually not a major problem for most people. In fact, many falls happen within the home and do not involve serious injuries. However, when a person falls on someone else’s property and sustains injuries, he or she may decide to consult personal injury lawyers located in Tracy or Livermore. A personal injury lawyer will review the available evidence to determine if someone else might be held liable for the injuries. One effective way to help your personal injury lawyer prove your allegations is to take photographs of the accident scene immediately after you fall.

Photographic evidence is difficult to dispute in court, especially when it depicts problems such as loose floorboards, broken handrails, or other tripping and slipping hazards. In addition to providing your injury lawyer with photographic evidence, you may have other evidence to support your case. This might include copies of your rental agreement if you fell on your landlord’s property. Personal injury lawyers are also likely to request copies of medical bills for your injury treatments.

Even if you have already established a will , you may need to make some changes to it from time to time. As this video explains, it’s a smart idea to review your will every few years to make sure that everything is up to date and to make any desired alterations. You may also need to update your will after major changes in your life, such as remarriage, the birth of a child, or the death of a beneficiary. However, altering a will needs to be done in a legal way in order to be considered valid. To ensure that you are carrying out your will updates correctly, contact a will attorney serving Tracy.

Even if you are young, healthy, and have few assets, you should consider visiting an estate-planning attorney to discuss drafting a will and a Power of Attorney in Tracy or Manteca . A will and durable power of attorney allow you to detail specific directions regarding your medical care, finances, assets, and liabilities if you are alive but no longer able to communicate this information yourself.

Watch this video to learn more about what a power of attorney is, and when you need one. A durable power of attorney designates a specific person whom you trust as the person who can make decisions about your finances, assets, and other estate-planning needs.

Probate is a process whereby an individual passes away without a will, or with a will and not a trust, and must go through a lengthy court process. To avoid having your surviving loved ones deal with the court process or state rules on your personal financial matters, speak to an attorney about your estate administration in Tracy .

If your estate ends up in probate, your assets will be completely tied up until a judge determines that creditors and tax obligations are satisfied. While an estate planning attorney can still offer assistance with probate matters, the process takes longer, costs more, and is more public than if a last will and testament had been left. Probate is completely avoidable if you arrange your financial affairs with an attorney before you pass away. By creating a will and trust, you can ensure that your assets will be equitably and efficiently divided according to your wishes.

The attorneys at Bakerink, McCusker & Beldin are here to represent you in personal injury cases and estate planning. If we have recently represented you, take a moment to post a positive review on our Google+ page.