News outlets in California and across the globe were flooded with stories earlier this year regarding pop music star Prince, who died without ever having executed a will. Similar stories surfaced after that; apparently, Prince was not the only superstar whose lack of estate planning had caused havoc within their families after their deaths. Many people, famous or not, simply do not like to discuss their own mortality, hence the reason for their procrastination when it comes to getting their affairs in order.
At McCoy Fatula, we understand the importance of documenting your desires and formal instructions with regard to finances, medical issues and other important life matters. If you have specific people in mind to inherit your assets, there is no guarantee that they will receive them if you do not write it in an estate plan before you die. Appropriate planning ahead of time can save family members much stress later.
The fact is, just because you are in perfect health now does not mean you will always be so. Should any unexpected accident or condition render you incapable of making financial or medical decisions, an updated estate plan can include a person named to act on your behalf. If you have children, you may also want to address the matter of who should become their legal guardian upon your death.
Some say any amount of estate planning is better than none at all. McCoy Fatula is able to help California clients in all aspects of the process. Whether your estate includes few assets or is one of high-net-worth value, we are prepared to help you design and execute a plan that best suits your immediate and long-term goals.