Estate planning is a highly personalized process and one that is best done under the guidance of a Pasadena estate planning law firm. An estate planning attorney will help guide you through a series of questions and considerations to keep in mind as you think about the people and organizations you wish to benefit or protect, the assets you own, and the individuals you intend to appoint in important roles.
Creating a valid legal will in California is one of the most obvious ways to ensure that your money and property goes to the organizations or people that you choose. However, a will is only the cornerstone of your California estate plan and your conversation with an attorney may reveal other goals you wish to accomplish.
Some other things to keep in mind include, first, preserving your hard-earned wealth for loved ones by minimizing or eliminating estate taxes and potentially even avoiding probate. Secondly, you may want to allow your family or another trusted individual to administer your estate and pass on your assets in a timely and private manner. Third, estate planning can be used to appoint a guardian for your minor children so that there is a plan in place in the event that you and any other parent are no longer available to do so due to an accident or unexpected passing.
Fourth, you can ensure your wishes are carried out in the event of disability, such as if you have specific wishes regarding who will take care of your finances or who is authorized to make health care decisions on your behalf if you are incapacitated. Finally, estate planning gives you some control over distributions to loved ones, especially children. There are many different options available to you, such as using a trust, and communicating with an experienced estate planning lawyer will help guide you towards the right decision.
