Q: Is estate planning only for wealthy families?

by | Sep 16, 2020 | Estate Planning, Q&A |

A: No! Estate planning is essential for every family. Even if you’re not wealthy, you should at least have a will, a financial power of attorney, and a power of attorney for health care.

A will names who will receive your belongings after your death. It also names who will take care of organizing your funeral, paying off your debts, and filing your final tax return.

A financial power of attorney gives authority to a trusted person to do things like pay bills on your behalf.

A power of attorney for health care names a trusted person to make health care decisions for you in case you’re not physically or mentally able to.

Often times, your estate planning should include a revocable trust, especially if you own a home or have minor children. Among other things, it helps to avoid probate and manage your minor children’s inheritance with ease and flexibility.

If you have any questions about this, please feel free to reach out to us (707-681-5851 or [email protected]) or set up a complimentary consultation at your convenience by clicking on the following link: https://MyNapaLawyer.as.me/