Protect Your Loved Ones and Assets with a Properly Written Estate Plan
Categories: California Estate Planning Laws, Estate Planning
Imagine this scenario: you have worked hard all your life to build a comfortable life for yourself and your loved ones. Suddenly, you fall ill and are unable to make decisions for yourself. With an estate plan, your assets and wishes for your family’s future are in the hands of the court. This is a situation that no one wants to face. That’s why it’s so important to have an experienced Los Angeles estate planning attorney to guide you through protecting your assets and family.
Estate planning in California is governed by state laws, which dictate how your assets will be distributed in the event of your death or incapacity. It’s essential to be informed about these laws and work with an attorney who profoundly understands them to ensure that your wishes are fulfilled.
What to Consider When Planning Your Estate:
- Your assets, including real estate, personal property, and financial accounts
- Your debts and liabilities
- Your beneficiaries and their needs
- Your wishes for end-of-life medical care
- Your preferences for funeral and burial arrangements
Step-by-Step Estate Planning Process:
- Assess your assets and liabilities
- Identify your beneficiaries and their needs
- Choose an executor for your estate
- Make a will or living trust
- Name a guardian for minor children
- Make arrangements for end-of-life medical care
- Update your estate plan as necessary
Statistics on Estate Planning in California:
- Only 42% of adults have a will or living trust in place
- In 2018, there were over 24,000 probate cases filed in California
- The average cost of probate in California is $26,000
Protect your loved ones and assets before it’s too late. Estate planning is a crucial aspect of financial planning, and it’s always early enough to start. An experienced Los Angeles estate planning attorney can help guide you through the process and ensure your wishes are fulfilled. Contact a qualified attorney today to schedule a consultation and take the first step toward securing your family’s future.