It is not easy to think about the future and make plans that could determine what will happen to a person’s belongings after his or her passing. These are not simple decisions to make, and for many in California, they believe that estate planning is not necessary. They assume that because they are not famous, wealthy or elderly that they do not this type of legal protection. These and other misconceptions can be quite damaging.
There are many estate planning misconceptions that can keep a person from making the right decisions for his or her future. One thing that people may assume is that estate planning is only making plans for after death, but that is simply not true. There are documents that a person can draft that can allow him or her to outline wishes for health care and medical needs in case of incapacitation in the future.
People often assume that a will is enough to ensure that their assets are distributed as they wish. In reality, there are other types of tools, such as a trust, that can allow a person to have more control over what happens to his or her stuff. It can also ensure that the interests of all beneficiaries and heirs are fully protected.
If a California reader has concerns about his or her estate plan, he or she will find it helpful to take quick action to rectify this. An assessment of a person’s case can help him or her see what estate planning misconceptions could be harming his or her interests. This process is important and beneficial for virtually everyone, regardless of age or wealth.