Discussing mortality is not always a favorite subject. Many people find the topic uncomfortable. However, in California and beyond, both young and old alike may benefit from gaining an understanding about the laws that govern estate planning matters before it is too late. When a person dies with no estate plan in place, family members may face many challenges during a lengthy probate process.
The road to getting a divorce finalized is different for every person. Whether your divorce was quick and efficient because you and your spouse were able to be amicable and cooperative or the divorce was drawn out for two years through intense divorce litigation, you are finally done with it. However, it is very important to understand that a finalized divorce can have legal implications on other areas of the law. One of them is estate planning.
Rock star Frank Zappa died more than 20 years ago. Apparently, even though there had been an estate planning process, his children have still become engaged in an ongoing battle with each other regarding the family business, rights to certain music and merchandise and various other aspects of their father's legacy. Mrs. Zappa, the adult children's mother, died in 2015, but not before making some very strange statements to one of her daughters. Some in California may be facing similar issues.
Some estimates suggest that more than half of all people in the nation die without any set plan in place to protect their estates. Apparently, this has created problems for many families in California and other states when distribution of assets come under the probate process. Those who wish to avoid such issues will want to consider seeking experienced estate planning guidance.
The widow of a former sports team owner died in April 2016. Since that time, her children have become engaged a bitter estate planning battle with the decedent's grandson. The situation, which is currently taking place outside California, includes the very body of the mother/grandmother who passed away.
Many California estate owners hope to one day pass their properties and assets on to their children and other loved ones. In order to protect their assets and document their wishes and goals concerning such matters, many enter a process to develop carefully crafted plans. So as to avoid family discord and potentially stressful situations, it is often best to seek skilled estate planning guidance.
Many California residents have taken steps to protect their assets, document their final wishes and provide for their loved ones' futures by executing thorough estate plans. A well-designed estate plan often includes trusts of some sort. Since there are several different types of trusts, and each person's situation is different, it is advisable to seek clarification and assistance in determining which type best suits a particular estate owner's needs.
Many California residents understand the importance of naming another party or parties as authoritative voices in making financial or medical decisions should they themselves become incapacitated and unable to do so. Careful estate planning is a means to solidify such wishes, protect assets and help loved ones' plan their future financial security. Although, some people do not like to discuss their own mortality, others realize that dying without an estate plan in place can lead to stress and complications for family members later.