Estate planning is all about mitigating uncertainty. By making informed decisions about inheritances and assets, you help ensure that any legacy you leave is one of your own choosing.
However, estate planning has implications that go far beyond the eventual distribution of assets. If made correctly, an estate plan can help Californians protect themselves and their families if they are ever incapacitated by physical injury, old age, or cognitive decline.
The Law Firm of Kavesh, Minor & Otis, Inc. has spent decades helping Golden State residents shield themselves from uncertainty. If you need help creating or revising an existing estate plan in case you should become incapacitated, our experienced team of attorneys could help you take your first steps toward peace of mind.
The Importance of Being Proactive
Life is full of surprises—but not all of them are good. No one, not even the best prepared, can anticipate what might happen down the road. Even healthy adults could find their plans upended by an accident or sudden-onset disease. Older adults, especially those who have already passed retirement age, often have additional considerations, including:
The Risk of Cognitive Decline
Few people plan on being diagnosed with a neurodegenerative disease such as Alzheimer’s or dementia. However, even people who do not have a family history of cognitive decline must be proactive in planning for the possibility of a life-changing diagnosis.
Since California state law requires that adults “be of sound mind” to write a will or fund a trust, estate planning decisions cannot be delayed until symptoms have already emerged.
The Possibility of Unexpected Injury
Accidents can happen to anyone, young or old. Senior citizens, however, are more likely to be severely injured—and possibly incapacitated—by motor vehicle crashes, slips and falls, and illness-related complications.
Providing Financial Relief for an Aging Spouse
Today, most Americans live well into their 70s and 80s. However, after a certain point, married couples must begin preparing for the inevitable. While imagining a world without your spouse can be painful, partners must make a deliberate effort to ensure that their better half will receive the resources they need when living life alone.
Estate Planning for Elder Care
The Law Firm of Kavesh, Minor & Otis, Inc. can assist you in mitigating the risks of cognitive decline, injury, and loss of income by helping you:
- Write a last will and testament
- Draft an advance health care directive that explains your desired medical care
- Delegate powers of attorney to your children or other trusted agents-in-fact
- Explore your eligibility for government-subsidized programs such as Medi-Cal
- Establish a revocable living trust to keep your assets out of probate
Estate planning does not have to be intimidating, complicated, or time-consuming. Our experienced team of attorneys offers free consultations, giving you an opportunity to talk through your needs before making a big commitment.