Estate planning allows you to state your wishes should you become incapacitated or die. These include how to distribute assets, how to and who will raise your kids and who should make decisions on your behalf.
Anyone above 18 years and of sound mind in California has the testamentary capacity to make a will. This means you can create your will sooner and update it when things change.
However, you should obtain adequate information when creating all documents in your plan. Here is why you need to do this.
It’s a legal process
An estate plan is a legal document; it should be valid by fulfilling certain requirements. For this reason, you should get the needed information to avoid making mistakes that can affect your documents’ legitimacy. You can save your beneficiaries from spending time in court challenging or defending your plan.
It can be challenged
Your plan’s documents, especially the will, can be contested in court. Some mistakes that create grounds for a will contest include inadequate information or incomplete instructions. Thus, learning more about estate planning can help you protect beneficiaries from disputes.
It protects what you worked hard for
You have worked hard to raise your loved ones and get the assets you have. Accordingly, you want to protect them as much as you can. And this requires knowledge.
You should learn how to identify the best guardian for your minor children or who can make decisions on your behalf, how to distribute assets, how to reduce liabilities and so on. With information, you can significantly protect what you worked hard for.
Being informed about estate planning is crucial. It will help to get legal guidance to make informed decisions.