Technically
speaking, the answer to that question is ‘yes’, since almost
everyone in California owns an “estate”. According to the state’s
Civil Code, this term refers to any property that was acquired
through inheritance or was owned for a set amount of time. Although
estates may vary in size and value, they’re still considered a
person’s most important assets and must, therefore, be preserved.
However,
estate planning
doesn’t only involve the writing and administration of a person’s
last will and testament. It also deals with the supervision of a
person’s property and assets in the event that he or she is
incapacitated. For example, a man who suddenly becomes comatose can
still have some sway over the distribution of his assets to his
beneficiaries. With the help of a Sacramento estate planning
attorney, this man can also help his beneficiaries deal with the
inevitable tax issues they will have with the government because of
this situation.
Those
who own properties worth less than $100,000 may no longer have to go
through a lengthy “probate” process when entrusting their estates
to their beneficiaries. At any rate, Californians can get a better
understanding of the probate process by consulting a qualified estate
planning attorney.
