Californians often need an estate plan consisting of a living trust, a pour over will, a durable power of attorney for property management and an advance health care directive when any one or more of the factors below are present. Whether you need an estate plan depends in part on the information you get from your estate planning lawyer. Here are some reasons to have an estate plan:
1. You have a blended family with children from previous relationships.
2. You want to disinherit an heir.
3. You have no heirs and you want to avoid having your property “escheat” or go to the State of California.
4. You have minor children.
5. You have a disabled child or a disabled adult beneficiary.
If you don’t have property that would have to go through probate, then a will is probably enough. No matter what your situation, you would always benefit from a durable power of attorney for property management and an advance health care directive since those documents work when you become incapacitated.
Call a California based estate planning attorney and get more information. Call Mitchell A. Port at 310.559.5259.