Wills can help prevent a lot of stress and family discord
Sometimes, California estate owners die and their estates are administered with no obstacles or problems arising throughout the process. Most often, if this is the case, it's because the estate owners took the time to carefully execute solid plans that included wills, powers of attorney and other key documents that can help prevent stress and avoid confusion down the line when the time comes for their assets to be distributed. Those who die with no final will and testament in place automatically cause their estates to become intestate, meaning their loved ones will have to sit back and wait as the probate court determines how assets (and liabilities) should be dispersed.
The final will and testament is not the only type of estate planning instrument, however. Many people take the time to put their wishes and instructions in writing while they are still living and of sound mind regarding medical care and financial issues. Such documents are known as living wills, and they can alleviate potential burdens for family members in urgent situations where estate owners themselves may suffer injuries or illnesses that incapacitate them.
The estate planning process can be quite simple or highly complex. Much depends on a particular person's goals. Some have business interests to protect and wish to include succession plans in their estate documents. For others, priorities may lie in securing legal guardians to raise their children if they are still minors when their parents die.
Some California residents avoid the topic of wills and estate planning because they think they are too young or not wealthy enough to need a plan. Even single people in their 20s can benefit from learning more about the process and developing plans of their own, which can be changed or updated as needed in years to come. If you have questions or a particular issue you'd like to discuss, you can request a meeting with one of the experienced attorneys at Molysby & Bordner, LLP, who are fully prepared to assist you in all your estate planning needs.