Estate Planning Essentials Every California Family Should Know
By Richard Watson, Esq. & Jacqueline Watson, Esq.
Estate planning is not reserved for the wealthy. Every California resident with assets, dependents, or specific wishes about their medical care should have a basic estate plan in place. Without one, state law dictates how your assets are distributed, who makes decisions on your behalf, and who cares for your minor children — outcomes that may not align with your intentions.
The Revocable Living Trust
In California, the revocable living trust is the cornerstone of most estate plans. Unlike a will, a properly funded trust avoids probate entirely, keeping your affairs private and allowing your successor trustee to begin administering your estate immediately. The trust can be amended or revoked during your lifetime, giving you complete flexibility as circumstances change.
Pour-Over Will
Even with a trust, a pour-over will is essential. This document acts as a safety net, directing any assets not already in the trust to be "poured over" into it upon your death. Without a pour-over will, unfunded assets may be distributed according to intestacy laws rather than your trust's terms.
Durable Power of Attorney
A durable power of attorney designates someone to manage your financial affairs if you become incapacitated. "Durable" means the authority survives your incapacity — without this designation, the power of attorney would become ineffective precisely when it is needed most.
Advance Health Care Directive
This document combines a living will with a health care power of attorney, allowing you to specify your wishes regarding medical treatment and designate someone to make health care decisions on your behalf. In California, the statutory form is widely accepted by medical providers and institutions.
Regular Review
An estate plan is not a one-time event. Major life changes — marriage, divorce, the birth of a child, significant changes in assets, or moves between states — all warrant a review and potential update of your plan. We recommend reviewing your estate plan at least every three to five years.