Not everyone understands the process of Estate Planning in Honolulu. Many people mistakenly believe estate planning is reserved for those who own vast amounts of properties. The truth is, most people have an estate. Your estate is the property you own, your belongings and the money you have in the bank. This all comprises what you will be leaving your heirs when you die. It is important to understand the process of estate planning. To make sure your estate planning is carried out legally and is binding, you need to make sure you work with an attorney.
During the process of estate planning, you will be in charge of making all of the decisions, while your attorney guides you and offers legal advice on those decisions. Your attorney can help you to understand the important implications of each decision you make so you can rest assured your will reflects your wishes in the best way possible. Through the attorney’s help, you can make sure your will is clear and concise, does not have mistakes and has the ability to be changed as your estate needs change.
What Is Involved in Estate Planning?
1. Making a will
2. Choosing your health care proxy
3. Choosing a power of attorney
Some people believe they can handle this process on their own and do not need the assistance of an attorney. This can be detrimental, even if you own very little property. When there is not a proper will put into place before your death, the state will make the decision on how your property is divided and the heirs will be. The state’s decision may not line up with your wishes, but there will be no recourse for your heirs if your will is not legally binding.
It is important for all adults to have estate planning, no matter how young or old. This is especially true if you are married or have children. To find out more about estate planning, contact the Law offices of Cheryl Takabayashi. She will be more than happy to work with you and assist you in making sure your estate planning is sound.