Everyone needs an estate plan, even if they are not extraordinarily wealthy. However, too few Americans create even rudimentary estate plans. If you do not have a will or an advanced health care directive, you leave your health, wealth, and assets to the mercy of California’s probate courts.
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Estate Planning Is About More Than Money
Estate planning encompasses far more than inheritances and trust funds. A comprehensive estate plan empowers you to protect and safeguard everything and everyone important to you.
California Estate Plans
- Protect Your Children. People often mistakenly believe that a will is simply a legal instrument that allows for the disbursement of assets after death. However, a will is an easy and convenient way to nominate a guardian for your minor children. If you do not nominate a guardian, the court will have to make a decision about who should receive custody of your child in the event you pass away before they become an adult.
- Plan for Emergencies. An “advanced health care directive” is a special estate planning document that lets you detail your preferences in the event you are ever medically incapacitated. You could, for instance, make decisions about the length of time you would like to be left in critical care and nominate an agent to approve medical decisions that align with your deep-seated values and beliefs.
- Safeguard Your Assets. Even if you are not wealthy, you likely possess some assets—perhaps a home, a vehicle, or investment account. However, without a will or revocable living trust, your family’s inheritance will be determined by the California Probate Court, which could privilege estranged relatives or even allow the state to seize your estate.
