The Law Firm of Lan Quoc Nguyen & Associates
The Law Firm of Lan Quoc Nguyen & Associates

800-505-1238
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800-505-1238
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Thorough estate planning requires more than a will

| Dec 23, 2019 | Estate Planning And Litigation |

It is not easy to make plans for the future, particularly when it involves thinking about what will happen to a person’s estate after he or she passes away. For many in California, a basic will seems like it is sufficient, but in reality, a person may need more. Thorough estate planning often involves more than just a will. With the right tools and documents in place, a person can be confident his or her objectives for the future are secure. 

One thing that may prove helpful when a person is thinking about important estate planning steps are beneficiary designations. Even if a will lists a person as an heir or beneficiary of certain accounts, the names on the account should line up accordingly. Otherwise, things can become complicated when it’s time to settle the estate. This is important for life insurance accounts, IRAs, retirement plans and more.

A person will also find it beneficial to discuss his or her plans for personal property with a trusted individual. Whether it is the executor of the estate or someone else, it can help to discuss objectives and final wishes regarding the settlement of the estate. This can help clarify certain things and reduce the chance of complications with heirs and loved ones.

Estate planning and having protections in place for the future can be a daunting task. It can be helpful to talk through these things with an experienced California attorney first before making any important decisions. This can help a person look to the future with confidence and peace of mind.