Developing a Plan to Protect Individuals, Families, and Businesses.

 

Estate Planning

Just about everyone over the age of 18 needs an estate plan. Estate planning not only manages the distribution plan of your assets after you have passed away, but also provides directions about management of your assets and your health while you are still alive. For those, who have minor children, estate planning is very important as the care of your minor children can either be in the hands of the government or you.

What is contained in an estate plan?  
An estate plan consists of various legal documents that serve very different functions over the management of your assets, health, and minor children.

Why estate planning is important?  
Everyone has an estate plan whether or not they have one of the listed estate planning tools. If you do not create a customized estate plan, the State of California will provide one for you in the form of conservatorships, foster care for your children, and probate. As you can suspect, California’s estate plan is expensive. Conservatorships are appointed when you do not have a durable power of attorney and an advance health care directive in place. The court will appoint a conservator to take care of you, while you may lack the necessary capacity. The conservators will be compensated from your assets.    

 

Copyright © 2014.  Tandoc Law, Corp. All rights reserved. 
The information displayed on this webpage is for informational purposes only and is not meant as legal advice.  
Privacy Policy    Terms of Use

Website Builder