Don't wait too long to start estate planning process
If you're one of many California residents who do not really like to talk about their own mortality, count yourself among a likely majority. However, when it comes to estate planning, not talking about it can lead to problems for your potential heirs and beneficiaries after you die. Several big-ticket Hollywood stars have passed away in recent years without leaving final wills and testaments.
The family disputes and other numerous complications that have arisen in the aftermaths of these situations have made news headlines more than once. Your estate plan needn't necessarily be complex. If you like to keep things simple and organized, you can determine what you think are the most essential documents and execute a personalized plan that meets your needs.
If your plan is going to include an executor and multiple heirs and beneficiaries, you may wish to discuss such issues ahead of time with pertinent parties. This is the easiest way to ensure that those you designate for specific roles in your estate plan are willing to accept the responsibilities and obligations contained therein. It is a good way to make sure that all those involved clearly understand the terms of your proposed plan.
Some people mistakenly believe the estate planning process is something only the most wealthy California residents think about. However, anyone who has assets of any kind may want to put a plan in writing to protect his or her interests and to make sure that those intended to inherit said assets will do so. If someone dies without a final will, a probate court will make such decisions. Molsby & Bordner, LLP are fully prepared to assist you in all your estate planning needs.