Estate planning can help address specific concerns
Dec. 24, 2018
Getting end-of-life affairs in order is not a simple task. After all, California residents will need to look at their lives as a whole and make many decisions regarding how they want the important facets of their lives handled in the event of incapacitation or death. Estate planning can help organize these decisions.
Even if people have specific aspects of their lives that create concern, there are likely planning tools that can help. For example, some individuals may have loved ones with special needs who could simultaneously benefit and suffer from an inheritance. They could benefit from having additional funds for care, but they could suffer a loss of government benefits if those funds are received improperly. Fortunately, individuals could utilize special needs trusts to prevent negative repercussions for those loved ones.
Some individuals may also wonder whether they could give portions of their estate to charitable causes. With the right planning tools, they can certainly achieve this goal. Parties can specifically bequeath assets to charity, or they can set up charitable trusts that could help them continue giving in the way they see fit.
The beauty of estate planning is that it gives individuals the opportunity to ensure that their wishes are known. This benefit can then provide a peace of mind that may seem invaluable. If California residents are ready to get started on their plans, they may want to start by receiving an explanation of their planning options for knowledgeable legal professionals who can help find the right tools for given concerns.