Estate planning often involves several legal instruments used to address financial, medical, and family matters. These estate planning tools can include wills, revocable living trusts, powers of attorney, and advance health care directives. In California, a will may name beneficiaries and select guardians for minor children. Trusts may also be used to control property transfers or plan for long-term distribution of assets.

Powers of attorney and health care directives can also be used to appoint a person to make financial or medical decisions on behalf of an incapacitated individual. California Probate Code § 6100 generally requires that a person have the capacity to make a will by being at least 18 years of age and of sound mind.

Thoughtful estate planning can reduce the chance of a long probate process after death. Probate may require court supervision, filings, notice to creditors, and wait times before distribution to heirs or beneficiaries. Probate avoidance estate planning tools, such as revocable living trusts and beneficiary designations, can transfer assets without probate.

Probate avoidance can also increase privacy since probate filings typically become public record in California courts. The chance of probate avoidance may depend on pre-death property titling and estate planning documents.

When estate planning simply cannot avoid probate, the case is overseen by one of California’s 123 appointed probate referees.

Many individuals find they need to change their estate planning documents following a major life transition. When an existing estate plan no longer reflects a person’s needs and wishes, they opt to revise outdated documents. Some common reasons people update their estate planning documents are listed below:

• New marriage, divorce, or remarriage
• Birth of a child
• Retirement
• Relocation
• New job
• Purchase of a new home
• Purchase of any expensive asset

Beneficiary designations, trust terms, or powers of attorney that are no longer up to date may inadvertently cause serious legal or financial issues for survivors. Transfer of business ownership or a change in family dynamics may also impact the way property is distributed. Periodic review of estate planning documents can also allow people to spot inconsistencies, outdated clauses, or incomplete aspects that could cause confusion or conflict in the future.

Failure to engage in estate planning can join your assets with the other $15 billion in unclaimed property and 84 million properties that the California State Controller’s Office safeguards until the proper owners are found.

Owners use estate planning to decide what happens to their business ownership when they die or are unable to continue managing it. Estate planning documents may identify who is to assume management responsibilities, whether ownership interests are to pass to family members or business partners, and how business interests should be valued.

Buy-sell agreements, trusts, and powers of attorney can also be used to address operational concerns if an owner can no longer work with the business. Without prior planning, disagreements among heirs, co-owners, or creditors may complicate operations and prevent a quick transfer of ownership. The business can become more important to plan for if it has multiple owners, employees, leases, or open contracts.

Can Estate Planning Documents Be Changed After They Are Signed?

In California, estate planning documents can generally be changed or revoked if the creator still has the capacity to make legal decisions. Wills can usually be superseded by a new, signed will. A revocable living trust can usually be amended during the creator’s lifetime. Estate plans are often modified after marriage, divorce, relocation, or financial changes.

Reviewing estate planning documents regularly is important because outdated provisions can create conflicts involving beneficiary designations, property transfers, or instructions that no longer reflect wishes.

What Happens if Someone Dies Without a Will?

When someone dies without a will or trust, questions may arise regarding property distribution, guardianship concerns, and who has decision-making authority after death. When estate planning documents are missing or outdated, families might also run into more probate hurdles. Assets are distributed by the court according to California intestate laws.

What Assets Are Commonly Included in an Estate Plan?

Estate plans may cover a broad spectrum of assets depending on a person’s financial situation and family life. Common examples of assets include homes, bank accounts, retirement accounts, life insurance proceeds, business interests, investment portfolios, and personal property.

Some estate plans may also deal with digital assets, intellectual property rights, or family-owned real estate. Careful identification and organization of assets in estate planning documents can also help to avoid conflicts and confusion over ownership transfers after death or incapacity.

What Courts Handle Probate Matters in Riverside?

Probate and estate issues near Riverside are typically processed through the probate division of the Riverside County Superior Court. There are three courts that serve Riverside. Which court your case is assigned to depends on where the decedent’s property is located or where the decedent lived. These courts include the downtown Riverside Historic Courthouse on Main Street, the Temecula Courthouse on County Center Drive, and the Palm Springs Courthouse on East Tahquitz Canyon Way.

Estate planning allows individuals to plan ahead for their financial, medical, and family needs prior to a crisis. Proper estate planning can help minimize conflicts, make wishes known, and make the transfer of property easier for surviving loved ones. Gaudy Law serves clients throughout California with estate planning and related issues. Schedule a consultation to hire an estate planning lawyer.