Estate planning is not something that most people think about when they are young. After all, young people don't often have children, perhaps aren't married, and have not yet accumulated much in the way of assets. But as people age, they often continue to put off this important action.
In California, you are not required by law to prepare a will or trust to determine how to dispose of your property. The California Probate Code, Section 240, provides a mechanism for distribution of your assets in the absence of an estate planning document. However, the distribution set forth in the Probate code may not be what you want to have happen with your property. In order to avoid the court for making decisions for you, a will or trust is needed, as this document (or documents) instructs the court (or in the case of a trust, instructs the trustee) to distribute your assets according to your specific direction.
No matter your age, it is important to take control of your assets and determine your own estate plan. Leaving this to a court can often bring about unwanted results.
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