One thing you’ll discover about estate planning is that it comes with many nuances. In other words, there is no one-size-fits-all option.
While it is beneficial to create a will, it might not be all you need to protect your health wishes and reduce hardships for those grieving your death. Since you already have the guidance of a legal representative when making a will, consider discussing the two issues below.
Avoiding or minimizing probate
Complex estates that include many valuable assets cannot always escape the probate process as a whole. However, it is possible to minimize probate by creating certain documents. Placing your family’s inheritances inside trusts is one of the most common ways to bypass probate.
You can also create payable-on-death (POD) bank accounts or Totten trusts to minimize probate for your heirs. These and other strategies can reduce tax burdens for your loved ones (and you).
Self-directing your medical care
When you are young, you probably hoped to live forever, but most people become more accepting of their eventual death as they age. Setting up advance medical directives ensures you remain in control of your health care regardless of age or medical condition.
Tools like a living will or advance directive empower you to decide which treatments you wish to receive and those you do not want. As the end-of-life approaches, you may refuse life-prolonging measures like tube feeding and artificial respiration.
States have unique laws addressing what you can and cannot do in your estate plan. To help ensure that you don’t make estate planning errors that could cause hardships for your survivors, learn more about estate planning in California.
