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Don't Put off Estate Planning till Tomorrow

Daryll Pomey Orat - Thursday, November 05, 2015

Finalizing documentation that clearly states in whose hands you want your assets to end up in after your passing, should be one of the most pressing matters on your table. Unfortunately, very often, California estate planning lawyers find that people put off these matters for later.

There are a number of reasons why people procrastinate when it comes to estate planning. For one, many people find it difficult or uncomfortable to confront the reality of their own mortality. In other cases, the process may be delayed because of complicated assets, or because of a complex family situation. This can intimidate people, who simply put off the inevitable.

However, there simply isn't a reason that is strong enough to warrant putting off estate planning. In fact, neglecting these important tasks only contributes to family squabbles, conflict and dysfunction down the road. Besides, when a person dies without a proper will, there's a high chance that the assets will end up in court, contributing to family bickering and legal squabbles that can last for years.

Having a proper estate plan can help prevent this. It can also help reduce taxes, and help smoothen the transition of the passing of assets from your hands to your heirs.

Even if your family situation at this point in time is fairly smooth and conflict-free, there is no guarantee that things will continue in this manner after you are gone. In fact, as lawyers often see, the death of the head of the family does very often bring old-wounds and long-festering sores to the surface. When matters of property and wealth are involved, minor matters can expand into a full-blown conflict.

Every family has its share of weak relationships that can blow up under the kind of pressure that can be exerted on family members when a person dies without clear instructions about how to deal with his assets.

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