When California residents begin setting up their estate plans, they may decide to leave some of their money to charity. In this situation, some people may want to set up a charitable trust.
You may think that estate planning is something best left until your 40s or 50s, when you have some kids and a few assets like a house and 401(k) worth protecting. Maybe you just started a new job or are planning your wedding, so estate planning is just not something on your priority list right now.
As a resident of California, you want your will to be valid. Because of certain state laws, having an invalid will can undo a lot of the work that you might have put into creating your will. The Law Offices of Roshni T. Desai will explain exactly what happens if your will is not considered valid.
California residents who are being proactive about their estate planning and wanting to create or update their will may want to give careful consideration to who they will select to be the executor and even the backup executor of their estate. It might seem logical for one spouse to name the other or for a surviving spouse to name an adult child who happens to live near them but these may not necessarily be the best choices. It is very important that the person selected to be the executor actually be capable of carrying out all of the tasks involved in the job.
Many different circumstances may prevent an elderly family member from managing his or her own affairs. In California, a probate court can address this issue by appointing a guardian to help guide the adult.
Most Californians create their wills or trusts in the hope that their estate planning will avoid disputes and maintain family harmony after they are gone. Unfortunately, fights over inheritances can happen even with the most solidly-planned will and the closest families. You might wonder how to prevent this from happening with your loved ones.