Everyone needs to come up with their estate plan before it’s too late. However, depending on your situation, you’re going to have different needs than someone else. By learning more about estate planning, you can decide how far to do it in advance. Here’s some information to get started.
Consider Your Children
If you have young children, at the very least, you need a will that says who you want to take care of them should you pass away. You should also include information about passing your assets along to them or another party.
Consider Your Age
If you are nearing retirement and you still don’t have an estate plan, it’s crucial to meet with an attorney and come up with one before it’s too late. You may want to include more than a will in your estate plan; for example, with a trust, you could avoid probate.
Consider Your Assets
Your assets are going to play a major part in your estate plan. If you don’t have many assets to pass along, then the process will likely be less complicated. But if you have a lot of property, then you’ll have to figure out the best way to protect it. Additionally, if you have creditors coming after you or you could get sued, then you’ll need to look into your options, including an irrevocable trust.
Getting in Touch With Legacy Law Group
If you need help with your estate plan, you can contact the estate planning attorneys at Legacy Law Group in Eastern Washington, Spokane Valley, and Spokane itself. Get in touch with us at (509) 315-8087.