Having children is a joyous experience for many California residents. Of course, the birth or adoption of a child is a major change to a person's life, which means that it may be necessary to accommodate that change in other ways. For example, individuals who have already created an estate plan may need to make adjustments for their new heirs.
Many events in life are better navigated when instructions are available. For particularly difficult times in life, those instructions can seem like a gift to lessen stress and help individuals through a trying period. Wills and other estate planning documents can provide useful instructions to California families who need that information and help after the passing of a loved one.
Making the decision to create an estate plan is one that most people will not regret. In fact, estate planning can better ensure that California residents are able to express their end-of-life and wishes to their family members in a legally-binding way. One of the easier places to start with this process is to consider the assets to include.
If California residents own any assets, they have an estate. As a result, they can benefit from creating an estate plan that would allow them to express their wishes for various estate-related matters. Wills and other documents can work together to create a unique and tailored plan for anyone.
Though many California residents may prefer to live in the present and not think about what could happen in the future, it is smart to consider some future possibilities. Thinking ahead can allow parties to plan ahead for certain events, such as their demise. This may not seem like an appealing topic, but wills and other estate planning documents can be helpful to have.
Though most people hope that they have a family that gets along without a hitch, that is not the case for a considerable number of families. In fact, siblings and other relatives can often find themselves at odds. As a result, some people may have concerns that their heirs will fight over their remaining estate.
The new year is still young and many people are still working on resolutions to get more exercise, eat better and in general take better care of themselves in order to help ensure a long and healthy life. Yet no matter what people may do, unthinkable tragedies can still occur. A helicopter crash in California recently took the life of the basketball star Kobe Bryant, his 13-year-old daughter and the lives of seven others who were traveling with them. Kobe Bryant was only 41. In addition to working to protect one's health, one should also formulate an estate plan for asset protection that will in turn protect one's heirs.
Figuring out how individuals want their worldly affairs handled after their deaths can be daunting. For this reason, many people in California and across the country create their wills and think they are finished with the difficult process of estate planning. However, nearly everything in life is constantly changing, and an outdated estate plan could cause problems.
As December turns to January, many Californians turn to thoughts of the year to come and beyond. On occasion, in addition to dieting or joining a gym, this may include thoughts concerning estate planning. It can be difficult to contemplate one's own mortality but failing to provide for one's heirs can cause chaos and heartache at an already difficult time. Conversely, if a person does have a plan in place but has not revisited it in some years, a review may be called for.
When putting together an estate plan in California people take into account family members and others to whom they wish to leave bequests. Also frequently considered are funds to care for children with special needs or other family members who may warrant special consideration. Additionally, people may include, as part of an inheritance, financial provisions to provide continued care for their pets. This used to be seen as being particular to the wealthy. Many people will recall that Leona Helmsley's dog, Trouble, was the beneficiary of a sizable bequest for his continued care.