Creating an estate plan in advance helps to give you peace of mind about what will happen to your estate when you die. Believe it or not, you don’t need a significant amount of property or investments to take advantage of the benefits of estate planning. Your estate not only includes your home or other real estate, it is also made up of everything else you own. The money you have in your bank accounts, your personal possessions, any furniture you own, along with any insurance policies are all considered a part of your estate. With estate planning, you determine what you want to happen to those things and who you want to handle your affairs when you pass on. Estate planning is especially useful for those with minor children, since it can also be used to name a guardian and provide for your children in the event of your death.
There are many options for Estate Planning in Hawaii. It is advisable to hire a law firm to handle your estate planning needs. Law firms like the Law offices of Cheryl Takabayashi and other firms on the island provide legal options to help you put your estate affairs in order. It is best to choose a lawyer that specializes in the area of estate planning to ensure the process is as smooth as possible. Attorney experience is key to ensuring the proper legal firms are filed and all other administrative matters are handled correctly. Failure to file the proper paperwork can result in stressful delays, and even worse, your wishes not being carried out in the manner you hoped for.
Estate planning in Hawaii typically includes drafting a will. In most cases, the will acts as the guide or blueprint for how your estate will be divided. In addition to providing for your friends and family, your will can stipulate any charitable donations or other designations you would like to happen in the settling of your estate.
