Is your estate plan up to date?
Many people prepared estate plans long ago. Since laws have changed and life circumstances may have changed, a new situation requires a second look. Now is a good time to review these issues if you have not reviewed your estate plan recently or if you have not prepared an estate plan. When a person passes away without a will their relatives do not know what their wishes are so the State of California writes a will for each person who dies without a will.
Other documents a Walnut Creek estate attorney prepares in an estate plan aside from a will can be:
- A Durable Power of Attorney for Health Care. This gives the power to a relative or friend to make health care decisions if a doctor states the person is no longer able to make these decisions themselves.
- A Durable Power of Attorney for Financial Care. This gives the power to a relative or friend to make financial decisions if a doctor states the person is no longer able to make these decisions themselves.
- Advanced Health Care Directive. These are instructions to the doctor on how a person would like to be cared for when they can not speak for themselves.
- A Living Trust. When a Living Trust is established a person’s estate is transferred to the Trust. When they pass away the Trust Administration substitutes for a probate which is public, expensive and lengthy.
Call an experienced Walnut Creek estate attorney for advice on these issues so you are prepared in the future by having these documents ready to go if you ever need them.