Many California residents are very creative in their holiday gift-giving customs. Some may even consider estate planning as part of this year’s traditions. What better time to secure one’s assets and let loved ones know you have their future financial security in mind that during a holiday season?
The benefits of thorough estate planning are many. Oppositely, the woes that might befall family members from lack of a good plan are equally plentiful. Many stories exist of famous people who have died without executing wills or any type of plan only to leave relatives and close friends battling over their estates.
Spouses, sons or daughters may delight in unwrapping gifts that let them know they are heirs to your estate. It’s always best to discuss your plans with someone who has a clear understanding of all state and federal laws that govern such matters before carrying out specific intentions. Simply telling your children or grand-children they are to receive certain gifts upon your death may not be enough, as the state decides to whom assets will be distributed if you die without a documented plan.
McCoy Fatula is available to help all those considering estate planning projects in California. Whether you’d like to secure a new plan before the end of the year or are thinking ahead to developing one in the new year, by discussing your ideas with experienced estate planning attorneys, you may be able to fine tune your thoughts and create a customized plan of action that lets your family know you have their best interests at heart. Our attorneys are also on hand to help with any updates or clarifications you may need for an existing plan as time goes on.
