Read Michael Jackson’s Will he prepared and signed in Los Angeles, California.
With the coverage of Michael Jackson’s death, estate and guardianship questions involving his children, Michael Jackson’s Will was made available through the internet shortly within it being filed with a Los Angeles Probate Court.
Don’t be shocked that such an important and personal document is available to the public. That’s the nature of wills — they are public documents (once you die) when a probate proceeding is started. Any will admitted to probate court is a public record that anyone can read.
So what do you do if you don’t want your estate planning wishes to be read by everyone? Do what Michael Jackson did and create a revocable living trust. He created his estate plan.
Estate planning is a term that may confuse people. Many people really don’t know what documents make up an estate plan. The term estate planning somehow confers a meaning that someone must have an estate. And people think of estates as those lovely homes in Beverly Hills and the surrounding area. You don’t have to be Michael Jackson or own an expensive home to benefit by having an estate plan.
Generally whenever someone dies, whatever they leave behind is called their estate whether it is assets or debts. So, estate planning is really planning for handling your affairs after you die.
In some instances, estate planning is also planning for incapacity.
The basic estate plan for most people generally consists of the following documents:
1. Will 2. Living Trust 3. Durable Power of Attorney 4. Advance Health Care Directive
Talk to a California estate planning attorney. Reduce the impact of death and taxes. Call Mitchell A. Port at (310) 559-5259.