One of the primary goals of an estate plan is to take care of your family in the event of your death. It is not often pleasant to reflect on those circumstances, but it is a reality that all of us will necessarily face at one time. The best course of action, therefore, is to address potential problems and solve them using the legal tools available.
It goes without saying that a person's whose finances remain fixated 'in the red' may more than likely leave an estate that reflects the same. While residents here in California all hope to live in a debt-free environment that allows our primary focus to be on asset protection, the reality of day-to-day living for most people means financial obligations in the form of mortgage payments, car loans and credit cards. Given our current economy, there may be many individuals finding it difficult to manage their finances and ensure that all financial obligations are met in a timely and comprehensive fashion. Doing so usually requires some degree of financial planning whether you live in California or somewhere else in the United States.