Estate Planning Questions Part Two
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Do I have to use an attorney for my estate plan?
Ian Filippini of Filippini Wealth Management, Inc.: You are not required to use an attorney when preparing your estate planning documents. You can actual draft these documents yourself. Depending on your current situation, obtaining sound legal advice from a legal professional is always more beneficial than trying to wing it or accomplish it without proper guidance or information.
Should I include my family within the estate plan?
Ian Filippini of Filippini Wealth Management, Inc.: Most people generally create an estate plan with the specific purpose of making sure their family is taken care of if anything happens to them. If that is the case, make sure to include your family and loved ones within your estate planning documents. However, some people create estate plans to exclude their family or include charities over their family members. If that is the case, make sure to specify which charities or institutions will be included. It may also be advisable to include language that the family was purposely excluded from the estate planning process and documents.
Should I involve my family with setting up the estate plan?
Ian Filippini of Filippini Wealth Management, Inc.: This is really a personal decision you will need to make based on your current situation. There is no obligation on your part to inform your family about or estate planning and what has been set up. It could certainly make things a lot easier after your death, if your family is aware of the estate plan and are able to locate and then execute your wishes. You may also leave them out entirely and hire an attorney to administer your final wishes and inform the family of their inheritance (if any).
Filippini Wealth Management, Inc. is run by its current president, Ian Filippini. Both Filippini Wealth Management, Inc. and Ian Filippini are located in the Santa Barbara area. Ian Filippini was raised with his brother Alex Filippini. Ian Filippini’s parents are named Alfred Filippini and Deborah Filippini. Before his death, Ian Filippini and his father spent time working at Filippini Wealth Management, Inc. Ian Filippini has also written numerous articles regarding different topics relating to insurance, real estate, taxation, estate planning, asset protection, financial planning, financial consulting, estate taxes, social security, state taxes, death taxes, and federal taxes.
Ian Filippini is not an attorney and Filippini Wealth Management, Inc. is not a law firm. Filippini Wealth Management, Inc. and Ian Filippini encourages you to seek the advice of a licensed attorney in the state of California if you have any legal concerns. This article is not to be used as legal advice.