Yuliya Magomedov is the Founder and Lead Attorney at Magomedov Law Group, a firm that provides estate planning services as well as other legal advice. Yuliya guides her clients through the often-complicated estate planning process and also offers continuous guidance if it becomes necessary. She can practice law in the State of California, the United States District Court, Northern District of California, and the United States Court of Appeals for the Ninth Circuit. She is a member of Consumer Attorneys of California and the San Francisco Trial Lawyer Association.
Here’s a glimpse of what you’ll learn:
- Yuliya Magomedov explains why estate planning is important
- The critical documents people should have for estate planning and what makes them valid
- Can members of a person's household act as witnesses to a will?
- Yuliya talks about the benefits of having a will and what happens to a person's assets when they die
- What happens when a case is taken to probate?
- The benefits of having a power of attorney and how a person can split it among nominees
- The benefits, fears, and emotions associated with preparing a healthcare directive
- Yuliya talks about getting guidance from an estate planning attorney and the different ways of getting estate planning documents validated
- What is a living trust, and why is it important?
- Why a nominee should be given a copy of an incapacitation document
In this episode…
Conversations about estate planning, being incapacitated, and writing a will can be unpleasant and touchy subjects. For many people, estate planning is a foreign concept, so they do nothing to plan. The result is that the family left behind is burdened with making difficult decisions, which can cause a lot of discord among them. So how can people take care of and protect their families if they fall sick or die?
Estate planning is very much underrated in this day and age. For many people, it’s a very unfamiliar concept, and they don’t understand why it’s crucial. Estate planning doesn’t just have to do with wills, trusts, or what happens to your assets after death. A lot of the estate planning process deals with disability or not being able to make decisions for yourself and appointing people who you trust to do that for you in that situation. It’s also about planning for unexpected events, taking care of bills, funerals, medical treatments, and other expenses, and making decisions if you can’t do it for yourself. You may have an idea of what you want, but it leaves everything to chance if you don’t get it written out in a legal form.
In this episode of the Pillar6 Podcast, Roman Polnar is joined by Yuliya Magomedov, the Founder and Lead Attorney at Magomedov Law Group, to talk about the benefits of estate planning and planning ahead. Yuliya also talks about the three most important documents for estate planning, explains who can serve as a witness to a will, and talks about the limitations of probate. Stay tuned to hear what it takes to plan your estate and why it’s essential for everyone.
Resources mentioned in this episode
- Pillar6 Advisors
- Roman M. Polnar on LinkedIn
- Magomedov Law Group
- Yuliya Magomedov on LinkedIn
- Yuliya Magomedov's email: email@example.com
Sponsor for this episode
This episode is brought to you by Pillar6. Pillar6 is a wealth advisory firm for successful individuals and families with active lifestyles.
Our clients appreciate having clarity and control over their finances and the peace of mind in knowing that their financial decisions are aligned with their core values, goals, and priorities. We provide financial planning services and wealth management services.
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To learn more, go to www.pillar6.com or you can email us at firstname.lastname@example.org.