Not everyone in California considers themselves experts on financial matters. With regard to estate planning, many people don’t even really know what it is. Some have a vague idea but could not begin to discuss the details involved. Others understand it, but avoid discussions that touch upon the subject of mortality.
Planning one’s estate is a highly customizable process that is typically best addressed alongside experienced assistance. The most common documents included in a thorough estate plan are wills, trusts, powers of attorney and advanced directives. This is not, however, an extensive list and much depends on one’s particular situation, as well as immediate and long-term goals.
An estate plan is not typically a once-for-all type of deal. In other words, changes can be made and updates included as needed. Unexpected deaths, new marriages, births, changes in employment and various other lifestyle experiences may lead one to determine that something needs to be added or deleted from an existing plan. The services of an estate planning and administration attorney can be a great asset at such times.
Estate planning is an essential tool that can be implemented regardless of the size of one’s estate. Also, whether one is just starting one’s adult life or has been married for years, far into the golden years, developing a well-designed plan is never inopportune. Anyone in California seeking clarification of estate planning laws or answers to questions regarding being named in another person’s estate plan may contact an attorney in the area for answers.
Source: money.cnn.com, “Ultimate Guide to Retirement“, Accessed on Dec. 6, 2016
