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For an estate planning attorney in the 21st century, providing a comprehensive approach to protecting a client's hard-earned assets, minimizing potential tax liability, and providing reassurance that desired goals can be met go far beyond the drafting of a will. The ever-changing face of financial, legal, and practical issues that could arise makes developing a strategy that encompasses all of these variables a challenging task. One particularly sensitive area in which an estate planning attorney can provide valuable guidance is in a situation where a loved one is incapacitated or otherwise unable to make decisions concerning personal matters such as health care. The concept of a "living will" or an advance directive (a document that can direct whether extreme measures should be undertaken to resuscitate or otherwise try to keep someone alive) has gained widespread acceptance as a way for individuals to keep control of these emotional and difficult choices even if unconscious. Another important tool is a durable power of attorney. This document, which remains in effect even if the individual becomes incapacitated, is a way to appoint a trusted person to handle such important matters as finances, paying bills, and even decisions regarding health care, life support, and other medical matters in the case of a final illness. A new issue, the "right to die" initiative that permits a person to have medical assistance to end their life is another aspect that will require increasing legal attention in the future. Wills and trusts, the traditional tenets of what an estate planning attorney handles, also require a higher degree of expertise than in prior times. Without a will, the property of the estate will be distributed according to state statute; this can often lead to results that differ significantly from what a person may have desired or intended. Having a legal expert create a will and reviewing its provisions annually is the best way to make certain that assets will be distributed according to a person's wishes and not some statutory legal formula. Trust instruments are a way that assets, and the income they generate, can avoid probate proceedings entirely. By setting up a trust, a person can retain control of the assets while titling them in the name of those individuals who will be able to enjoy the benefits of the property. There are a wide variety of trusts that can be established and tailored to meet specific financial goals; irrevocable trusts, for example, often carry attractive tax benefits, while generation-skipping trusts can be set up to benefit a grantor's grandchildren while "skipping" his or her children. Seeking the advice of an experienced estate planning attorney can help reduce concerns for family members who have to deal with the loss of a loved one. Knowing that an individual's final wishes will be honored and that the survivors will not have to navigate the murky waters of probate law can provide the peace of mind that the future is secure thanks to today's choices. When looking for an estate planning lawyer, Roseville residents consult Meyer & Yee LLP. To learn more, visit http://mylawyersllp.com/practice-areas/estate-planning/.
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