California residents face a daunting task when it comes to estate planning, often overwhelmed by a wealth of paperwork and decisions regarding asset distribution. The question that frequently arises is whether to seek legal assistance or to navigate the complexities independently.
“I think anyone in California that has any kind of assets needs some estate planning - it doesn't need to be that complicated,” said Doreen Erenea, an estate planning attorney with nearly 30 years of experience.
Erenea has witnessed varying levels of preparedness among individuals regarding their property and estate after passing.
While some people create simple wills, others invest in comprehensive trusts that outline detailed instructions regarding the distribution of their assets, especially if minor children are involved. This may include stipulations on when heirs receive their inheritances.
“Maybe you don't want all your assets to go to your kid when they turn 18. Let’s push it out a little further, maybe bump it to 25 or 30 when they're a little more mature," Erenea noted.
Erenea emphasized that the level of preparation can significantly impact the ease with which an estate is settled. Those who fail to prepare adequately may find their loved ones locked in prolonged legal battles over property distribution.
In California, individuals without a will but who own property will have their assets distributed according to automatic designations.
“It's spouse, children, grandchildren, and if none of those exist, it goes back up. Again, if you still have living parents, it's going to be them. If not them, it's gonna be your siblings and so on," explained Erenea.
However, she cautioned that relying on these default provisions can complicate matters and delay the settlement process.
While hiring an estate lawyer may cost between $3,000 and $5,000, there are also online options available. Individuals can find downloadable forms for free or use online services for $100 to $600 per will. Erenea advises caution with online solutions, as "the language isn't that clear. And so when the language isn't that clear, you can have people that are inheriting things from you fighting over that document because they want that money."
Effective estate planning is crucial for Californians and can save loved ones from unnecessary legal complications during an already difficult time. The decision between professional legal help and DIY approaches requires careful consideration of the potential long-term implications.
This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
