McCoy Fatula, APCMcCoy
Fatula
Located in Roseville, CA
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Estate Planning Archives

Estate planning is an important process for everyone

The majority of California residents, like others around the country, have likely given little thought to what life will be like for their loved ones after they have passed. Most have not gone through the process of estate planning because they believe it is not necessary unless someone has a certain amount of assets. However, certain issues such as guardianship of children and health care are critical for everyone, regardless of income level. Experts weigh in on the importance of creating an estate plan.

Women getting divorced should consider estate plannning

The life expectancy for women in California and around the country is roughly five years more than for men. Reports from the Centers for Disease Control and Prevention n thaotet 38 percent of marriages in the nation end in divorce. Couple the divorce rate with the longer life expectancy for women, and it results in many women having the responsibility for managing their finances well into their future. Given this potential, it would be advantageous for women to give serious consideration to estate planning.

Estate planning in a digitally-based world

Before the internet, California residents building estate portfolios likely did not discuss digital assets. In fact, most people would probably wonder what they are. Nowadays, however, the majority of people in this state and throughout the country are tapped into an online world for both personal purposes and those related to business. This has changed the face of many types of transactions, including those connected to estate planning.

Avoid these estate planning issues when getting affairs in order

Many California residents want to be as prepared as possible when it comes to their own deaths. Surprisingly, however, some fail to consider the importance of careful estate planning when it comes to protecting their interests and providing for their loved ones. When a person dies with no set plan in place, his or her estate becomes intestate, meaning the probate court will make all decisions regarding its administration.

The ABCs of good estate planning

Sometimes life can get rather complicated. Most California residents, especially those raising families, would agree. In many situations, however, such as where estate planning is concerned, there are several tangible steps that can be taken to keep things organized and well-structured, which often helps alleviate stress. To begin with, it's important to realize that thorough estate planning is a valuable tool for young, single people, as well as newly married couples or older spouses whose children are grown.

Estate planning may bring peace of mind

Considering what will become of one's property, assets and/or business interests after death is something not every California resident likes to do. In fact, some people don't even like to broach such topics. Others understand how valuable the estate planning process can be to retain control over personal and business-related belongings.

Estate planning problems that can lead to family rifts

California played a significant role in the nation's history where early-American farming and homesteading are concerned. Many estate owners have had the same parcels of land in their families, spanning several generations. When land owners enter the estate planning process, however, many of these homesteads become bones of contention when heirs squabble over what to do with the land.

This document is often a key component in estate planning process

No one in California (or anywhere, for that matter) can predict the future. However, many people want to be as prepared as possible for various types of urgent and/or inevitable situations that may occur. The estate planning process helps this happen because those who execute solid plans can customize their documents to address the issues they consider most important.

Careful estate planning often addresses health and finances

Whether you're in splendid physical condition and good health, or have been battling a chronic illness for several years now, you likely understand why many California residents want to have a say regarding their own future health-related decisions. For instance, if someone is seriously injured in a car accident, and is unable to speak or communicate, an existing advanced health directive can allow a designated individual to step in and make health care decisions. This means if the situation deteriorates and a life and death decision must made, the person designated in the health care directive may act on behalf of the patient. It is an important part of the estate planning process.

What millenials need to know about estate planning

California is full of millennials. Many have lofty dreams for their futures that include entrepreneurial ideas, post secondary education, traveling the world and more. Some will marry, have children and live simple lives in the country somewhere. How many, though, will take time for estate planning

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