Many people are not aware of the fact that almost everyone has an estate. An estate consists of any properties, assets, bank accounts, investments, life insurance, and other possessions that one may own. The death of a loved one is one of the most stressful moments in people’s lives, but the aftermath and dealing with everything that is left behind is a whole other story that often gives the family even more stress. Planning an estate avoids such troubles, and ensures that one is able to control how assets will be given to the people or organizations that one cares about the most. Sowards Law Firm provides wills, trusts, and estate planning services to ensure that one’s wishes are carried out in the event of death.
The Sowards Law Firm is a boutique Silicon Valley law firm that specializes in estate planning, wills, trusts, asset protection, estate administration, and business law. The members of the firm have been helping California families for over 25 years. They have a proven track record and the legal training to understand and solve even the most difficult legal challenges, unlike legal software or legal websites that provide self-help.
To protect one’s business or children’s inheritance, Sowards Law Firm recommends taking time when hiring an attorney. The right attorney is someone who has the knowledge needed to solve one’s legal issues. “None of us will live forever, and we all know you can’t take it with you. So when you are ready to plan a strategy for leaving your children an inheritance, there are several ways to go,” says estate planning attorney Ben Sowards, ESQ.
According to Sowards, the best option to protect children’s or family members’ inheritance is through the lifetime trust – something that the wealthy have been using for a long time. Lifetime trusts protect beneficiaries from any number of situations that could threaten their inheritance, such as creditors, divorcing spouses, bankruptcy, or even from expensive mistakes that the beneficiaries may make.
California law dictates that beneficiaries may collect their inheritance outright as soon as they turn 18. To ensure that their needs are provided for throughout their lives, one may consider distributing the inheritance gradually as the beneficiaries grow older. Doing such, guarantees the assets are protected in a trust that can last a child’s lifetime, and even cascade down to the next generation.
The Sowards Law Firm’s practice areas also include special needs planning, probate or estate and trust administration, litigation, elder law and Medi-Cal planning, pet trusts, private retirement plans, and many others.
For more information on their services, visit http://www.sowardslawfirm.com.