Estate Planning in California: Checklist of Documents

Creating a comprehensive estate plan is crucial for ensuring your assets are distributed according to your wishes and that your healthcare preferences are respected. In California, several key legal estate documents form the foundation of an effective estate plan. Here, we outline these documents and provide guidance on when you should consider updating them.

Wills

A will is a legal document that specifies how your assets will be distributed after your death. It also allows you to appoint a guardian for your minor children. You should update your will if you experience significant life changes such as marriage, divorce, the birth of a child, or acquiring new assets.

Trusts

Trusts, particularly living trusts, are used to manage your assets both during your lifetime and after your death. They help avoid probate, ensure privacy, and can provide for minor children or beneficiaries with special needs. Consider reviewing your trust if there are changes in your family dynamics or if you acquire or sell significant assets.

Power of Attorney (POA)

A Power of Attorney document designates an agent to manage your financial affairs if you become incapacitated. This should be updated if your relationship with your appointed agent changes or if your financial situation becomes more complex.

Advance Healthcare Directive (AHCD)

An AHCD allows you to outline your healthcare preferences and appoint a healthcare proxy to make decisions if you’re unable to do so. You should revise your AHCD if your health condition changes or if you want to update your healthcare proxy choices.

When to Update Your Estate Plan

It's essential to review your estate plan regularly. Apart from life changes, updates in laws and regulations may also necessitate revisions. Consulting an experienced estate planning attorney ensures that your legal estate documents remain compliant with current California laws.

Taking control of your estate plan is a vital step in protecting your legacy. To ensure your wishes are honored, contact our office today to assemble or update your plan with our expertise.