Planning Your Estate

If you own property, have assets, or have any other significant personal or financial interests, it is important to create a plan for your estate upon your death. Understanding some estate planning basics will make it easier to approach this important task. A thoughtful approach is crucial for anybody with such assets – old or young, male or female, regardless of one’s health or socioeconomic status. An person who writes a will is known as its testator.

Estate planning falls under the legal category of “probate law.” In California, the California Probate Code outlines the regulations for estate planning and other probate issues for state residents.

Various issues can arise in the estate planning process. When you begin the estate planning process, you may consider talking to a probate attorney about your needs and your desires for your assets after your death. For some people, planning their long-term medical care is an important part of the estate planning process. For others, making sure that all beneficiaries receive a fair share of one’s estate is the top priority.

Estate Planning Basics – Identify Important Issues

Making plans for one’s estate is not always a simple, straightforward process. The following topics are basics for estate planning and point out some common issues of consideration during the estate planning process.

• Gifts;