An Estate Planning Attorney in Orange County Releases New Information on Understanding Estate Plans

ORANGE COUNTY, Calif. - March 12, 2014 - PRLog -- ORANGE COUNTY, CA – March 10, 2014 – Dwight Edward Tompkins is an estate planning attorney serving Orange County residents.  He recently released a blog about why estate planning is necessary. He says, “When we think of an estate, we make the mistake of thinking of a large property. In fact, legally, one’s estate is made of all of one’s possessions and debts. Each of us has an estate, and everything from personal belongings to life insurance goes into it. As such, we need to make sure that at the moment of our passing there is a clear set of instructions regarding who gets what, and when. This is what estate planning is all about: making a complete list of your possessions and planning who will receive them after your death.”

Dwight, an estate planning attorney in Orange County (http://www.tompkins-law.com/estate-plan-reviews-and-amendments), emphasizes the fact that no one’s estate is too big or too small to implement an estate plan.  The estate planning process can be extremely complicated, which is why it is crucial to consult with a professional.  Dwight says, “Even if it may sound simple, estate planning can be pretty tricky. It is really not the place where you should try to cut costs; it might end up costing your family more later on.”  Dwight continues by saying, “Unfortunately, most individuals do not plan their estate. The reasons vary. They might not because they either feel they own too little or because they feel that estate planning is something they should worry about at an older age. Unfortunately, this is not always the way it is.”

One of the main points Dwight touches on in this blog post is that an estate plan ensures the passing of your assets as you wish.  He explains, “Without a will, the law splits your assets equally between the children and surviving spouse. That includes the house in which the spouse will still be living. In the end, the surviving spouse may not receive enough. You can ensure that he or she gets enough to get by through estate planning. Alternatively, you may not wish for your enterprise to be split between the surviving parties, but may prefer to leave it to someone who can administer it profitably and provide your family with dividends. “

To read more about this topic on Dwight Edward Tompkins’ website click the link below.

http://blog.tompkins-law.com/2014/03/an-attorney-explains-how-to-understand.html

About Tompkins Law

Tompkins Law has been assisting residents in the Orange County, California and the surrounding areas with estate planning, probate, living trust, and business planning services for over 20 years.  Visit http://www.tompkins-law.com/home-page for more information.