Families are made up of people. People come in all shapes, sizes and personalities, and this can add to family drama and contribute to challenges when it comes to estate planning in California. Most people understand the importance of having a plan in place in this day and age, but they may be reluctant to engage in planning because of the conflicts that may arise. This can be particularly true when sizeable estates are involved.
As with so many family issues, communication is key. Communicating final wishes to one’s family members can reduce conflict and hurt feelings that could arise following a person’s passing. The right plan may include a will, trust and charitable bequest, among other items. Formulating a plan and explaining the reasoning behind the plan can help allay squabbles that may occur after one’s passing.
No one wants to think of family members fighting over bequests while also mourning a death. There are many factors that can contribute to such squabbles, and a person may wish to consider them when composing an estate plan. These include sibling rivalries, blended families, extended families and family members with special needs, to name a few of the possibilities.
A person in California who is considering estate planning may wish to consult with an experienced estate planning attorney. A successful plan should consider all of one’s assets in the present and allow for changes in the future. A comprehensive plan is not intended to be written once and never modified. Changes should be made as one’s life circumstances change. A knowledgeable lawyer can review one’s financial situation and assist in developing a plan that will serve a person now and well into the future.
