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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What are the key elements of a good estate plan?

If you are considering creating an estate plan in California, you should know there are certain key elements that must be included to ensure your plan is sound. Failure to include these elements can lead to heartbreak down the line, and may also leave your assets at risk.

As stated by Forbes, there are several important considerations to make when creating your estate plan. For instance, if you have a blended family (meaning that there are children from previous marriages that must also be included), you’ll need to take steps to ensure that all family members have equal representation within estate plan documents. Failure to do so could lead to challenges to your estate plan after you’re gone. Wills may be subject to probate if your family disagrees with how assets are dispersed, and this process can be long as well as costly.

You should also consider who is best to manage your affairs if you become incapacitated by illness or injury. This person will oversee your financial affairs if you are no longer able to do so, and without a person in place the court will be forced to decide. It’s also recommended that you clearly spell out what you mean by incapacity to ensure there is no confusion.

Lastly, if there are very young children in your family who will be receiving an inheritance, it’s best to set up an outline of how they will receive this money. This goes along with another important consideration when it comes inheritances; every child should be looked at on individual basis. This is especially true if any of your children have special needs, which will entail financial support for medical care and other essential services. 

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

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445 Marine View Ave Ste 300
Del Mar, CA 92014

Phone: 858-356-4568
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Oceanside, CA 92054

Phone: 760-712-3889
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