What is Estate Planning
What Is Estate Planning?
Getting older and dying are the only things that are guaranteed in life, but no one knows when the worst will happen. Since life is unpredictable, financial security is often a concern among families..
A comprehensive estate plan is the cornerstone for achieving financial security, protecting yourself, and protecting your loved ones. Your estate planning documents should take into consideration the protections you need during your lifetime, prepare you for aging and retirement, address the succession of family businesses, plan for long-term care expenses, determine what happens to your belongings, and establish what you’d like to have happen after your death.
Everyone who owns property in California needs an estate plan. It’s not just for the wealthy. It’s for every family.
Why Choose Legacy APC?
At Legacy APC, we have been counseling families on the intricacies of estate planning and custom tailoring plans with them in mind for over 20 years.
We address top concerns of families, such as the loss of family assets that is possible with poor estate planning. We recognize that emergencies sometimes “do happen to us,” and the losses can be devastating. These losses compound when they repeat one generation after the next.
Our goal is to guide you through a holistic approach to estate planning to ensure the generational accumulation and transfer of family assets, which will inspire economic freedom and mobility in generations to come.
Estate planning isn’t just a Will. It’s not just a one-size-fits-all plan that you can set up and forget about, either. It requires you to regularly think about what’s best for yourself and your family, so you can update your plan when major life events take place.
Holistic estate planning is about empowering individuals, couples, and families with the education, knowledge, and coaching they need to ensure they are protected at each stage of their lives. It’s about having peace of mind no matter what surprises may show up later in life.
What’s Included in a Holistic Estate Plan?
Your comprehensive holistic estate plan may do some or all of the following for you:
Name someone to make decisions if you can’t
Who will make financial and medical decisions for you if you aren't able? We can help you select your Durable Power of Attorney and create an Advance Health Care Directive, so your family isn’t shut out when you need them in a time of crisis and they have the information they need to make decisions on your behalf.
Plan for long-term care
While none of us want to think about it, most of us will need some type of assistance as aging adults. Long-term care is expensive, and it can quickly deplete your family’s assets.! In San Diego, you can expect to pay an average of $10,646 monthly for nursing home care. We can help you create a plan to fund and protect your assets. Let us talk to you about Revocable and Irrevocable Trusts, life insurance, and other asset protection techniques.
Leave behind a legacy you’re proud of
At the end of our lives, we’re much more valuable than the money and things we leave behind. We’re here to support you and help you leave a legacy behind that will empowering future generations that share your family values. Let us help you pass down not only “things” but also lessons, wisdom, and your life story.
Determine quality of life issues
What types of life-sustaining treatment would you choose in the event of an accident or incapacity? Do you have health concerns? How do you feel about being connected to a breathing machine or ventilator? Under what circumstances would you choose resuscitation? Without the answers to these questions available in an Advance Health Care Directive, your family or medical team may not know your wishes and could make decisions you wouldn’t agree with.
Plan who will inherit your assets
You get to decide who will inherit your assets, how you want to pass them on, and when they’ll be distributed. We’ll coach you on how to have conversations with your family about these plans, too, to prevent Will contests and confusion later on. Doing this now will ensure your wishes are followed and prevent any family disputes after you’re gone.
Plan for your retirement
We’ll ensure your estate and financial plans are in alignment. We’ll help you create a financial plan that supports your long-term vision and an estate plan that protects it and maximizes your returns. We’re happy to coordinate with any financial advisors you work with.
Plan for your death
We know talking about death is difficult, but doing so now can make life much easier for your loved ones later. We will guide you to help determine what you want to happen at the time of your death, including your family won’t be left guessing how to best honor you and your wishes during a time of heightened grief.
Plan for your loved ones’ needs
This can include planning for your loved ones during life and if you pass away unexpectedly. For example, we can help create a tax savings plan to pay for your child’s college and select both Temporary and Permanent Guardians for minor children in the event of your incapacity or death. We can also create a plan to help fund your family’s future financial needs.
Custom-Tailored Estate Planning in San Diego, CA
At Legacy APC, we believe in the importance of tailoring each estate plan to honor each client’s needs.
We understand that different people, cultures, and communities have unique priorities and values, and no two families are ever the same. We love to listen and get to know clients for who they are and what’s important to them, so we can celebrate their uniqueness by helping them custom-tailor an estate plan that grows with them. In fact, it’s one of our favorite things about working with clients.
Using our holistic approach to estate planning, we’ll help you with important documents such as your:
- Living Trusts
- Living Will
- Last Will and Testament
- Retirement Planning
- Incapacity Planning
- Power of Attorney
- Long-term Care Planning
- Business Succession Planning
- Advance Health Care Directive
- Special Needs Planning
Choose Legacy APC, Your San Diego Estate Planning Attorney
It’s time to create a holistic plan to protect your family’s financial future. Let us help you create an estate plan that reflects who you are and what’s important to you.
We feel strongly about crafting custom-tailored plans that fit each family’s goals. We believe these plans should be created with all future life stages and needs in mind. Taking this bird’s eye view, we can guide you on the best planning strategies for your unique situation.
Feel free to Schedule your free consultation with our office at Legacy APC today or call our office (619) 696-0778 to learn more.