Planning for the future can sometimes be uncomfortable, especially when it comes to planning for things you don't like to think about. But planning for the possibility of a debilitating or incapacitating injury or illness by having an advance health care directive can save your family a great deal of anguish in the future.
Residents in California may have read an interesting editorial article in the Wall Street Journal recently, dealing with the questions that many couples without children face when they're considering their estate plan. Without children, and the possibility of children in the future, some couples might get the false sense of security that their estate plan isn't as urgent, but having an estate plan is just as essential for people with no kids as it is for people with 10 kids.
People in California may have seen a recent article about the issues involved in leaving an IRA to a person other than a spouse. For many people, an IRA or other retirement account is among their largest and most valuable assets, so it makes sense that people would want their beneficiaries to be able to enjoy this after they are gone. However, a recent Supreme Court case has posed some obstacles that people in this position should be aware of.
People in California know that a will is probably the single most important estate planning document that every person should have. That being said, there are certain kinds of property that a will simply cannot cover for various reasons. For that reason it's important to know the limitations of a will, and what other supplemental estate documents a person may need to work with their attorney to draw up or amend.