Starting an estate plan is a wise move for all California adults. They may already know that these plans have their uses, but they may not fully understand just how beneficial they can be. From their wills to their health care-related documents, individuals can reap many benefits for themselves and their families.
When it comes to using a will, a person can indicate who they want to receive certain property, and as a result, they have the assurance that their remaining assets will transfer to the correct beneficiaries. Additionally, a will can be used to protect immediate family members in many ways. The document can indicate that a surviving spouse should receive certain funds in order to keep the family financially afloat, and it can also appoint a guardian for any minor children who may need care.
An estate plan can also allow family members to feel less burdened and for the testator to feel that his or her wishes are known, especially when it comes to health care. Incapacitation affects numerous people, and by having power of attorney documents and advanced directives in place, families members may not be left to wonder what decisions they should make in an already difficult predicament. This can also allow the person to feel more at ease by knowing that unnecessary actions will not be taken if he or she does not want them.
The list of benefits of estate planning is lengthy, and many California residents may not know just how useful their plans can be. By creating their wills and other planning documents, they are setting themselves and their families up for easier transitions when certain predicaments arise. Parties who are interested in gaining more information on additional benefits and ways to create comprehensive plans may wish to work with their legal counsel.