What Is Estate Planning?
Life moves fast and rarely do we want to think about our own mortality. By planning ahead, you can save your loved ones additional heartache, minimize family conflict, and save them thousands of dollars by avoiding probate court and the stress that comes along with it. Estate Planning includes wills, trusts, guardianship plans, advanced healthcare directives, powers of attorney, as well as strategic financial planning while you’re alive.
Why Should I Have An Estate Plan?
If you pass away in the State of California without a properly executed will or trust, your assets and everything you’ve worked hard to acquire will be subject to probate in which the State of California has decided who should receive your assets after your death.
By having an estate plan, you stay in control—you decide who should inherit your assets, who should serve as a guardian for your children, what kind of treatments you receive from healthcare providers should you become incapacitated, and what happens with your remains. Don’t leave these decisions up to the Court. In addition, estate planning can allow you to minimize estate and inheritance taxes, saving your loved ones great expense.
In other words, estate planning is important no matter your age or income. You want to have a say in where your assets end up and ensure your loved ones are adequately cared for should something happen to you.