There are many reasons why California adults put off thinking about and making plans for the future. Some may think they are too young, while others think they don’t have enough money or valuable assets to necessitate estate planning. In reality, drafting certain documents and having plans in place is a prudent step for every adult, regardless of age, wealth and current health status.
Life is unpredictable, and having an estate plan can keep loved ones from having to make difficult decisions on behalf of someone who cannot speak or make choices regarding health care. An adult who has a plan will have the ability to express wishes regarding health care and finances in case of a debilitating illness or incapacitating injury. An estate plan can also let someone choose another trusted individual to make medical and financial decisions on his or her behalf in case of an emergency.
Most people think about an estate plan in regard to the distribution of wealth and assets after death. While this is part of estate planning, there are various tools available that allow a California adult to look to the future with confidence regarding end-of-life care, the care of minor children and much more. Every plan is different and can be custom-tailored to suit the needs of the individual.
Estate planning is an important step, and this is why it is helpful to work with an experienced attorney throughout the entire process. An assessment of the individual estate can determine what tools may be necessary. In addition to a will and trusts, it may be helpful to draft a living will and other documents related to medical care and health concerns.