If you are a California resident who is concerned about how your financial decisions will be made and who will make them in the event you are unable to make them yourself, you may wish to consider creating a durable financial power of attorney. As FindLaw explains, a financial power of attorney is a document you sign that grants someone else the authority to take care of your financial matters if and when you are in a position where you cannot do it yourself. This person usually is called your financial agent or your attorney-in-fact.
When a person dies, the will may have to go through probate court to establish validity and proper distribution of assets. The length and cost of the process usually give it a bad name, encouraging people to avoid it.
When a loved one dies, family members feel the weight of the loss in many ways, not the least of which is the emptiness in the home they once shared. Memories abound even months later when movers await. Estate executors oversee the process as family members decide on what to distribute, what to give away and what to sell. The process is not easy, but in California, the Law Offices of Roshni T. Desai has assisted many families in making probate proceedings more straightforward.
If you are an executor over a California estate, you may feel pressure to cover all necessary steps, and you may, too, have concerns about whether you are doing everything the job entails correctly. Making mistakes in an executor role can prove extremely costly, and the decisions you make and the steps you do and do not take can have serious and considerable financial and tax implications. At the Law Offices of Roshni T. Desai, we have a firm understanding of the duties required of an executor, and we have helped many people in estate planning roles take necessary steps to protect their loved ones.
America is a country of do-it-yourselfers - people who are handed a difficult task and say, "I don't need help. I'll figure this out myself."
If a California loved one ever names you as an executor over his or her estate, you may find yourself involved in the probate process, which is a common, yet often-misunderstood, aspect of estate planning. Essentially, probate refers to the court-supervised process of proving the accuracy of a will, and there are typically a number of different steps involved in the procedure.
At the Law Offices of Roshni T. Desai, we understand that you want the best for your loved ones. For this reason, it is never a bad time to begin your estate planning or update an existing will or trust. However, estate planning might seem overwhelming if you are just starting to think about it. This holiday season, you and other Californians might find it useful to talk to your family members about estate planning while you are together celebrating.