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.
Most California parents want what's best for their children, even if it means they sometimes must make decisions that don't make their children particularly happy. If you're a parent who recently divorced, you likely have first-hand experience with this type of situation. Still, like other parents, you hate to see your child suffer, and you might be worried whether he or she is adapting to your new lifestyle in a healthy manner.
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.
Like many others in California, you probably consider raising your children one of your greatest achievements. Also like most parents, even though times are not always easy, you try to overcome any obstacles that arise and always want what's best for your kids. If you're divorced, it's likely you and your former spouse have faced a challenge or two along the way with regard to developing and carrying out a new parenting plan.
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.
No two marriages are exactly the same. Yours might have been similar to others in California where you and your spouse shared everything 50/50 down to your very last penny. Other married couples prefer to retain financial independence from each other, even going so far as to maintain separate bank accounts. More often than not, however, most marriages include a substantial amount of shared property and interests. If a divorce occurs, each spouse is bound to adhere to laws governing such matters in this particular state.
Many California residents who divorce first experienced the process in childhood or young adult life when their own parents severed marital ties. This leads some to believe a propensity toward divorce may exist in some families. There are those who say it's mere coincidence if members of the same family choose to end their marriages; others suggest there's more to it than that. In fact, some people have insinuated that the divorce of former reality show star, Jon Gosselin, may have just been a natural course of events in his life, since his own parents battled it out for years in court.
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.
It may seem safe to assume that if one is still married after many years at age 90, chances are the union will last a lifetime. Nevertheless, one can never be sure. The divorce rate among those who are age 50 and older has apparently skyrocketed in recent years. Some California couples experience a lingering breakdown in communication, while others say they've simply outgrown each other.
Many California residents have been following news updates regarding a young girl's sudden disappearance, and her subsequent rescue after it was learned she was kidnapped. Parents who hear things like this often want to hold their children a little closer and protect them as best they can. There are some things in life, however, from which it's difficult to shelter children, such as serious marital problems that lead to divorce.
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.
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.
Married couples in California are no different than others across the nation who often face serious marital challenges. Some are able to rectify their situations and keep their unions intact. Others determine divorce the most viable option, which may be obvious to those who can barely exist in the same room without arguing.
When a California couple goes through divorce, maintaining a sense of normalcy in daily life can be quite challenging. Divorce is seldom easy; however, life goes on and most people must continue going to work every day, cooking meals and providing for children's basic needs. When one of the spouses involved is a celebrity, problems are often intensified.