The Flanigan Law Group, A Professional Corporation
Call Our Irvine Office Today
Click Here To Call Now
Local: 949-450-0041
Toll Free: 800-732-2413

5 Estate Planning Tips for Boomers

If you're a baby boomer, then you should already have an estate plan. But if an estate plan has been on your perpetual "to do" list that has never gotten done, here are 5 tips to get you on your way now:

Create a will. This most basic estate planning tool is one that, unfortunately, gets neglected all too often. No matter how wealthy you are - or aren't - you need a will, especially if there are still minor children in your household.

Create a durable power of attorney. You need to designate someone to handle your finances for you in case you become incapacitated, and a durable power of attorney is the way to do it. Your choice should be someone competent and trustworthy, who will act in your best interest and respect your wishes.

Create a living will and advance medical directive. Creating an advance medical directive allows you to name a trusted relative or friend to make medical decisions for you in case you are unable to do so yourself. A living will spells out your wishes for end-of-life care. If you want to have the final say in these matters, you need to have these documents in place.

Title your assets correctly. No matter what your will states, the assets in your retirement accounts, bank accounts and life insurance policy will pass to those designated as beneficiaries for those accounts. This is why it is important to be sure your accounts are updated with current beneficiary designations.

Check with family. Do you know if your parents have a will or estate plan? Ask the question and if the answer is no, ask how you can help get them organized.

The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0041.

No Comments

Leave a comment
Comment Information

Learn How We Can
Help You

Send Us An Email

How May We Help?Send Us An Email

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

15615 Alton Parkway
Suite 450
Irvine, CA 92618

Toll Free: 800-732-2413
Fax: 949-271-6346
Map & Directions

Review Us