Today, more and more of one's life is taken up by or expressed on digital devices in California. Television is available on any device and reading an actual hard copy book is becoming less common. People send e-mails and e-cards in lieu of actual cards or letters. In this age of electronics, there is still one document that is best if crafted on actual paper; that is a last will and testament.
It is possible that few in California realize how much contention they create with their estate plans. Leaving behind wills that are poorly considered or do not clearly define the writers' intentions is a recipe for disputes and battles. This may be the opposite of the goals of one's estate plan. However, there are some steps one can take to reduce the possibility that the heirs of the estate will contest the contents of the will.
More and more people are becoming aware of the need to establish an estate plan in California and are taking steps to do so. Establishing an estate plan is very important once a family grows to include children. Having wills enables parents to ensure the continued care of their children should the parents become incapacitated or die prematurely.
More and more people are becoming aware of the need to have an estate plan in place in order to protect their family and ensure that their final wishes are carried out in California. However, a plan can consist of a will, a living will and/or a trust. What should be included, wills or trusts, depends on certain factors.
Estate planning need not be a difficult or overwhelming task. When people in California think about writing wills, they be at a loss as to where to begin. The question isn't so much what the estate plan should consist of but rather what is the right estate plan for the individual or individuals who are creating it.
Proper estate planning can be a gift to one's loved ones. By outlining a plan for the distribution of assets, an individual may reduce the amount of time and money spent to settle one's estate after a death. Wills are an important tool for individuals in the estate planning process. Individuals in California may wish to know more about the function of a will and how it is implemented.
Many individuals will enter the estate planning process at some point in their lives. By using good strategies and avoiding common pitfalls, an individual can feel confident in asset protection. California residents may choose to transfer assets to their heirs in several ways, but if there is an oversight, the people left behind may face costly and inconvenient legal barriers.
An individual doesn't need to be Scrooge McDuck in order to benefit from an estate plan. Most individuals and their families can benefit from a carefully drafted and enacted plan. In California, wills and trusts can be an important aspect of asset protection.
It is not unusual for individuals to have different views on estate planning. Some parties may immediately consider it beneficial, and others may think it unnecessary or at least a low priority. Of course, even California residents who have created wills and other estate planning documents may not use their plans to full advantage if they make mistakes when naming beneficiaries.
The new year brings new tax laws, and new policies may give reason to adjust estate planning documents. The major change is the raising of the threshold for the estate tax, and those individuals who will be affected by the change will likely want to review estate documents. For most people in California, wills and trusts benefit from frequent review, with updates whenever there is a major life change.