Estate Planning is a process that involves people—your family, other individuals and, in many cases, charitable organizations of your choice. It also involves your assets and the various forms of ownership that those assets may take.
Through estate planning, you can determine:
Many people mistakenly think that estate planning only involves the writing of a will. Estate planning, however, can also involve financial, tax, medical and business planning. A will is part of the planning process, but you will need other documents as well to fully address all of your estate planning needs.
At Langley Law Firm, we know the right questions to ask before embarking on any form of estate planning. Before we can truly guide you in the right direction, we always ask the following questions:
If you fail to plan ahead, a judge can simply appoint someone to handle your assets and personal care. Without planning, your assets will be distributed to your heirs according to a set of rules known as intestate succession. Contrary to popular myth, everything does not automatically go to the state if you die without a will. Your relatives, no matter how remote, and, in some cases, the relatives of your spouse will have priority in inheritance ahead of the state. Still, they may not be your choice of heirs; an estate plan gives you much greater control over who will inherit your assets after your death.