When it comes to estate planning the prospective client has a couple of options open to him. Either they could prepare the plan on their own with the help of an expert or leave the process for Government to finalize. Succession and inheritance occupy the prime spot among the issues to be determined.
People looking for estate planning have a couple of options open before them. Either they could prepare the plan on their own or leave it to Government to carry out. An essential part of all these is appreciating what the Government offers for them.
Constituting the basic components of effective estate planning are the followings:
- Reduction of taxes.
- Reasonable and equitable distribution of assets.
- Inheritance and succession plans.
– Avoiding probate.
Whether it is Government or the client prepares the planning on their own using the services of some good Estate Planning Attorney, the initial question remains unaltered. Inheritance and determination of succession take the prime spot in the list of issues to be addressed through the planning process. If you want to know more about estate planning, you can also navigate to http://www.edmundvincentlaw.com/.
People who belong to Northern or Southern California or any part of the state are government by California Community Property Law. Each of spouses under the law of the land would have 50% interest in all properties acquired after marriage and 100% rights and interest in the case of the properties acquired before the marriage.