Palmer Rodak & Associates
Palmer Rodak & Associates
Certified Family Law Specialists State Bar of California Board of Legal SpecializationServing your Community for 19 Years
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Caring for family members through estate planning

When it comes to decisions about what will happen with estates after death, one of the most difficult to make is concerning the well-being of any surviving family members. Leaving behind a spouse and/or children in California can be stressful, but making smart decisions during estate planning can make the transition much easier.

 

MoneySense advises readers to be sure they have a sufficient amount of life insurance. There are several different options and types that should be discussed, but providers need to be sure they leave enough money for their dependents to survive.

 

Another option that can prove valuable is the creation of a trust. This account can reduce risk if parents are worried about their children being responsible with their inheritance or do not want to directly allocate property to them. This can also prevent any unwanted relatives from receiving assets. Wills can also feature a named executor to control assets after death. Wills can also include a delegated guardian for any minor children which is useful if the creator of the will is widowed or divorced.

 

ABC News also cautions readers to consider what may happen to certain items left to dependents. Some parents intend to relieve financial burdens by leaving their home to their children, but neglect to realize that sharing an asset may cause disagreements and strife. If one child wants to sell the home but the other wants to keep it, contention is likely to arise. Instead, it may be better for parents to talk with the children before creating a will to find out what their preferences are and determine a solution that works for everyone.

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Palmer Rodak & Associates
Certified Family Law Specialists State Bar of California Board of Legal Specialization

Del Mar Office
445 Marine View Ave Ste 300
Del Mar, CA 92014

Phone: 858-356-4568
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301 Mission Avenue Suite 205
Oceanside, CA 92054

Phone: 760-712-3889
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