Important points to be considered before you actually go and meet lawyer for estate planning!

For a layman doing estate planning or making a will is limited to distribution of their assets amongst their heirs upon their death. But when they actually go and meet a will and trust attorney they realize there is much more to it then they have thought. According to a renowned wills and trust attorney in San Diego, most of the people when they come for estate planning are not even sure whether they want to make a will or a trust for their assets. There are many other aspects which need to be considered for good estate planning and some of them are discussed below.

• Whether to have a will or a trust? This is usually the first question that comes in mind of people on meeting an estate lawyer. And according to a renowned San Diego Estate planning lawyer it is quite valid question. Not all asset planning require trust to be made and if you can do well with a will then why incur extra expenditure of hiring a trust lawyer and making a trust. Both will and trust has its own benefits and depends on the requirements of the person making it. Trust can be helpful if it is funded generously. All your assets gets included in the trust. But if you are likely to acquire more assets in future which may or may not get included in the trust, then they will have to be probated at the time of your death. This makes the entire process of making trust insignificant. It is very important to consider your future investments at the time of making trust.
• According to one of the Best estate planning attorney San Diego, living will is an important part of a will and it cannot be ignored. It covers issues like who will get the power of attorney in case you are incapacitated, how you medical expenditures will be incurred, who will take decisions of your treatment or ending your life in case you are seriously ill and incapable of taking the decision on your own. Who will be the responsible person for signing all important documents and taking financial decision in case you are unavailable or incapacitated?
• Reviewing your bank accounts, life insurance and other invest Another important factor to be considered while making will is reviewing the beneficiaries of your bank accounts, life insurance and other such investment. If you keep the beneficiaries same what you have chosen at the time of making will then they will be probated separately after you die.