At some point in their lives, most California residents come to the decision that they want to get their affairs in order. As the new year quickly approaches, numerous individuals may believe that now is the time to get started on their wills and other aspects of estate planning. This idea could be a great way to start the year off right.
Estate planning has numerous benefits, and those benefits do not just apply after a person’s demise. For instance, individuals can use planning tools to indicate the type of medical care they want to receive and who should make medical decisions in the event that they cannot act for themselves. These plans can also indicate who should handle money matters in the event of incapacitation.
Of course, estate planning does have many uses for people to organize their remaining affairs in the event of death. A will can be used to appoint guardians for minor children and to indicate to whom remaining assets should be distributed. Planning ahead can also help reduce the financial obligations of the estate, like estate taxes and probate fees. These final instructions can also prove immensely useful to the executor of the estate, who can be appointed through a will.
The estate planning process can be simple with just a few documents utilized, like wills, or California residents can take the time to create comprehensive plans that address various areas. Because so many planning options exist, interested individuals may want more information on which could work best for their plans. Experienced attorneys could help explain the uses of various planning tools and how they could suit particular needs.