Avoid These Mistakes by Hiring a San Antonio Estate Planning Lawyer

For a lot of people, estate planning is just for the elite. But, did you know that it does not have to do with the size of your estate? Creating an estate plan ensures the loved ones you will leave behind when you die are cared for.

When you create an estate plan, you need the expertise of a San Antonio Estate Planning Lawyer to ensure your plan complies with applicable laws. Also, your lawyer will make sure your plan reflects what you wish for today and in the future. Your estate plan will contain important information associated with your will, guardianship designations, and your beneficiaries. By working with an estate planning attorney, you can avoid making the following mistakes:

Not Devising a Plan

When you leave the world without an estate plan, the state will distribute your assets according to the laws. Usually, such distribution methods won’t reflect your wishes. In fact, your beneficiaries may not be able to get the share they deserve.  And if you have a beneficiary who is a minor, the court will control their inheritance until this minor reaches legal age. So, if you do not want the state to make estate-related decisions for you, hire an estate planning to draft a plan as soon as possible.

Failing to Update Your Estate Plan Regularly

Estate planning does not stop once you have one drafted by your attorney. You need to update your plan every time public policies affect your estate change or if you change your goals. Also, let your estate planning lawyer review your plan whenever there are changes to your life and family situations such as when a child is added to the family. Your San Antonio lawyer should be able to discuss with you how major events like a divorce or a death of a spouse can affect your plan.

Not Planning for Disability

Nothing is certain in life. You can get involved in an accident and suffer from a disability or become incapacitated due to old age. In the future, you may need long-term care before you pass away. Without a San Antonio estate plan in place, the court will decide how your assets should be utilized to provide for your care. But, you can prevent this from taking place by appointing an individual to make healthcare decisions for you. Establish a living trust and to make sure you will have enough long-term care funds, purchase short-term and long-term disability insurance.