Having an estate plan in place is an excellent way to help make sure your loved ones are provided for and protected. Although many people believe that having a will is enough, in order to have a comprehensive estate plan, you will need to address several key areas. Here are five ways to improve your California Estate Plan:
Your will is a part of your estate plan, which allows you to expressly state how you want your assets to be divided when you pass away. Ideally, your wishes will be apparent to everyone involved and honored by your loved ones and survivors. Unfortunately, there can be problems which can lead to your will being contested. Fortunately, there are steps you can take, which may help prevent challenges to your will.
Estate planning isn't something that most people think about very often. In fact, most people don't even realize they have an estate. They tend to think of an estate as a fortune substantial enough to qualify for a federal inheritance tax.
Nowadays, most people associate estate planning with only the rich and wealthy. However, estate planning can benefit many families, no matter their income level. Furthermore, the earlier you have made these important plans the better, because it will allow you the peace of mind of knowing that your affairs are in order.