Estate planning is about more than simply preparing documents.  It is about protecting your values and not just your valuables.  It is about working with an attorney that has the ability to counsel you about your estate and offer a variety of solutions.

When this California estate planning attorney meets with people concerning their living trust, I listen to them and over the years have seen the way to do it right and the mistakes that people frequently make.  Few make all of these mistakes, but many make some of these mistakes.

1. Spend more on a home than you should: this is especially in the news right now as frankly many people thought that appreciation would continue forever.  Real estate, like virtually everything else is cyclical.  Remember that and remember that property taxes, homeowners insurance, maintenance and repairs only increase with time.

2. Debts and Retirement: Ideally prior to retirement the vast majority of your debts will be paid off and your mortgage will be easily managed.  In the event that you are thinking about moving and undertaking a new mortgage, see the previous paragraph!!

3. Raiding the Retirement Account:  Often there are large penalties associated with doing so.  Even if there were not, think about the long term consequences.  Obviously that money will not be there when you are going to need it.

4. Think about health costs: The good news is that we are living longer; the bad news is that many of us are going to be incapacitated for a fairly long time.  Many companies are reducing, if not eliminating, health benefits for retirees.  Have a plan in place.  While it is not for everyone, think about long term care insurance. 

Sometimes a California estate planning attorney is a great person to speak with about planning for retirement.  In addition to making sure that your legal documents (living trust, will, power of attorney, advance health care directive, HIPAA authorization), he/she can provide you with a variety of options concerning your future.

In the event you are in Culver City, West Los Angeles, Marina del Rey, Westchester, Santa Monica, Brentwood, Beverly Hills, or nearby areas, please give me a call!