Estate planning ensures the security of your family by creating a plan that provides for your needs and your family in case of disability and for your family in case of death.
Living Trust and Wills
Protecting and providing for our family and friends is an important part of creating an estate plan. When no estate plan is created the laws of California will determine who gets your assets and who doesn’t. When you create a living trust or will you are deciding who your beneficiaries are and what you want to leave to each. You are making sure that your wishes are known and carried out. Putting together an estate plan gives you the ability to inform your loved ones who you want your property and assets to be given to.
Creating an estate plan can also help maintain family harmony. When your wishes and desires are not made clear there can be disputes between family members. Setting down your desires on paper can avoid confusion and make clear to your loved ones what your intentions are.
Power of Attorney and Health Care Directives
Planning for situations in which you may not be able to make financial or health care decisions is an important part of estate planning. By creating a power of attorney you are deciding who you can entrust to make decisions about your finances and assets in case of your disability. Having a power of attorney can help take care of your loved ones in case of your disability. Without a power of attorney, your family may need to go to court and appoint a conservator to manage your assets. A conservatorship can be time consuming and costly and can lead to disputes between family members as to who should manage your affairs.
Creating a Health Care Directive allows you to select who you trust to make your health care decisions if you are unable to make those decisions. When you do not select a person to make these decisions for you then California law determines who gets to make those decisions for you.
Creating an estate plan allows you to empower yourself and to decide who receives your assets and who gets to make decisions on your behalf in case of incapacity. It gives you the peace of mind to know that your family is protected in case of incapacity or death.