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The Importance of Estate Law: Planning For your Future
Contrary to popular belief, most people own an estate in some capacity. The Norman Yatooma & Associates law firm understands the priceless nature of your assets, and we strive to help you protect your assets by all legal means possible. Your estate is a composite of everything that falls under your individual ownership, including your personal possessions, vehicles properties, accounts, etc. All of your individual investments are calculated into your estate, and your possessions do harbor value, no matter how modest they may be. Of course, you cannot keep your possessions indefinitely, as everyone will pass away at some point. Our law firm can help you effectively plan and safeguard your possessions.
The estate attorneys at Norman Yatooma & Associates can provide a systematized set of guidelines and directions for your estate plan and allocation. We can help you determine which of your loved ones receives what, how much they receive, and the manner in which they receive it. Our estate attorneys can help you minimize the fees and taxes associated with your estate possessions once they are allocated. Our law firm will ensure that your possessions are disbursed properly and that they are free of costly fees and taxes.
The estate attorneys at Norman Yatooma & Associates can assist you with the painstaking estate planning process. We will plan your estate in accordance with state law, and incorporate many different elements into the process. The following list represents a bulk of the planning process, which our estate attorneys can certainly assist you with:
• Providing a list of meticulous guidelines regarding how you will allocate your valuables, as well the values that you regard to be most important. This includes your religious creeds, your educational values and your ethical standards.
• Provide clear and transparent guidelines regarding the care you wish receive once you enter a state of dependency before you die.
• Identify the parental guardian that you wish to appoint for any children under the legal adult age.
• Make provisions for family members and loved ones who have special needs, excluding government aid.
• Providing fiscally irresponsible loved ones with financial security.
• Make provisions for life insurance to ensure that your family is secure if you fall ill or die.
• Systematize the process of transferring your business when you are retired, disabled or deceased.
• Reduce legal costs and fees.
Never finalize your estate plan after a single draft, as this is an ongoing process. Norman Yatooma & Associates will be there every step of the way to help you plan.
Who is Estate Planning For?
The Norman Yatooma & Associates law firm recognizes that estate planning is ideal for everyone, not simply the retired segments of the population. We have helped clients of all age groups accurately assess their possessions and plan them accordingly. Of course, estate planning becomes a more vital necessity as people age.
Our law firm has a stellar track record of helping clients of all socioeconomic classes. Many people uphold the assumption that estates are exclusively reserved for the rich and famous. However, members of the working and middle class usually have possessions that are regarded as an estate. Therefore, estate planning is absolutely critical for individuals of all socioeconomic classes.
Planning is Critical
Many people forgo the estate planning process because they assume their personal possessions lack value. On other occasions, people simply delay the planning process because they are not well informed in the process, or simply too occupied with the activities of their daily life. Always plan ahead, because life is unpredictable
Avoid State Plans
The Norman Yatooma & Associates law firm is the preferred alternative to a generic estate plan. In some circumstances, a person cannot competently plan an estate because they suffer from a physical or mental disability. In such cases, your estate plan may hinge on a court based decision, rather than that of your family. Our attorneys can prevent this from happening.
If you pass away without a personally devised estate plan in place, your assets will be subject to the probate laws, which are state specific. Accordingly, your spouse and/or children may be entitled to a portion of your assets. This conveys the importance of deliberate estate planning. If the state allocates your resources, your spouse and children may not be provided with enough resources, and they may not be financially secure after your death. Our law firm can make sure that your family is secured.