Wednesday, March 4, 2009

Basic Estate Planning in California

Estate planning is planning to ensure that your final property and health care wishes are honored and that loved ones are provided for in your absence. The estate planning process should begin with you explaining to your estate planning attorney in Sacramento what you want to happen to your assets during your lifetime and at your death, then exploring the different options in which to accomplish your goals.

During your initial consultation with an attorney, you may be asked to complete a questionnaire in which you list in detail your assets and describe your family structure. You should be prepared before you consult with your attorney because your estate plan is not a one size fits all type of product. You are in control of the way your assets are distributed and the family members or loved ones who will receive your property. Be sure to discuss your goals with your attorney. If your attorney does not know what is important to you, he or she will not be able to establish an estate plan that accomplishes your goals.

Your estate is made up of all of the assets that you own at your death. Your estate consists of real and personal property. Real property includes land, improvements to land and oil, gas and mineral interests. Personal property includes all property that is not real property. Some examples of personal property are: cash and bank accounts, clothing and personal effects, household furnishings, vehicles, stocks and bonds, life insurance policies, and retirement benefits.

The development of a well drafted, well thought out estate plan takes preparation by you and good communication with your estate planning attorney. It cannot be stressed enough the importance of defining your goals and clearly stating those goals to your attorney. Sphere: Related Content

8 comments:

billig mobil said...

Planning is the keyword in this business!

montgomery mortgage said...

Hi
I think Planning and development is the keyword in this business.

Invoice Finance said...

Very good post. Can anyone say a few things about the legal aspects of Invoice Finance ?

Joyeal Ryan said...

Thanks for the estate planning advice... Effective estate planning will guard against potential fraud or dishonesty from ill intended individuals and will also save your beneficiary from unnecessary legal challenges to your estate...

Brooke said...

nice informative blog!!
Thanks,
International Moving

East Anglian Saab Dealers said...

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peza lawyer said...

i havent heard about that'Pink Slips loans' , planning should be realistic view of expectation in order to be effective.

Van Leasing said...

Very informative. Looks like a lot of research has been put into this.

Van Leasing