Many California residents want to create estate plans, but they may not feel ready or may believe that they can do it any time. However, sudden accidents can also take place at any time, and it is wise to be prepared sooner rather than later. Adults of any age can benefit from having estate planning documents, like wills.
A will is typically the most common document when it comes to estate planning, and it is certainly important. People can use their wills to detail how they want their property distributed, and in return, the distribution does not have to take place in accordance with state law. Additionally, wills can be used to name guardians for children who would still need care in the event of their parents’ passing.
What some individuals may not know is that another type of will exists: a living will. This document allows individuals to instruct how their care should be handled in the event of a terminal situation or if they should slip into a vegetative state. Leaving these instructions can help loved ones make decisions regarding whether to take family members off life-sustaining devices or to take other actions.
Understanding the importance of wills, and the various types, can help many California residents with their estate plans. Learning more about the other planning tools available could also help interested parties create the most comprehensive and effective plans. In order to decide what planning options may work best for individual situations, interested parties may want to work with estate planning attorneys when making their end-of-life wishes known.