When you are raising a child with autism keeping up with their daily needs and the other demands of life can leave little room to think about the future. However, when you know your child is going to need care into adulthood, it's essential to consider making plans for them sooner rather than later. By preparing for your child with autism now, you can help make certain his or her needs are met and avoid leaving them and other members of your family in an uncertain position.
As Woodland Hills residents begin the process of estate planning, one of the first issues that's often brought up is who will act in their stead should they become incapacitated. This may often prompt some to assign a family member or friend with power of attorney. Yet handing over the right to make vital decisions on one's behalf is not a decision that should be taken lightly. Whomever one chooses to have power of attorney is given great authority over his or her affairs. This could lead some to question exactly how far this authority goes.
California residents who are concerned about issues with estate beneficiaries may wish to know the results of an estate planning survey of wealthy Americans. Their views on whom to leave their assets to and how much to give may be instructive.
California residents who are over the age of 18 may want to consider writing a will. A will is a part of most estate plans, and without one, the state often decides how an individual's assets are distributed after their death. A will appoints beneficiaries who will receive those assets, and those beneficiaries might be friends, family or organizations, such as charities.
California members of the Baby Boomer generation have traditionally been more concerned with maximizing income and planning for retirement than they have been with estate planning. However, as the boomers enter their sixth decade, it becomes more important to have a plan. This may help to protect their worldly possessions for the next generation and save them from certain difficulties as the details of the estate are worked out.
Some California residents may benefit by choosing to purchase cash-value life insurance policies as a part of their overall estate plan. Those most likely to do so are people who already have enough assets for their own retirements, are older and who are risk-averse.
As part of their estate planning, California residents may want to leave portions of their assets to family and charity, but they may also want to go beyond those two categories. Estate tax exemptions are higher than they used to be, so individuals concerned about taxes have more flexibility as to where they might direct their money.