We work with clients to develop an estate plan so that upon their death, their wishes will be carried out as they wanted and their loved ones will be provided for. And while beneficiaries can be family, they do not necessarily have to be related to them. Beneficiaries in a California estate plan can be friends, charity organizations or other entities that can be specified in a will.
The central document in most estate plans is the trust. Most trusts we create are revocable, meaning that our clients, the trustors, can change, update, or nullify the trust throughout the course of their lives. However, a will and a trust alone are just pieces of paper – it takes the actions of people to put them into effect.
For friends and family outside immediate family, a carefully prepared and up-to-date estate plan is even more essential. In the event that someone dies without an estate plan, their legal heirs, such as spouses, children and parents will acquire their assets. And it will exclude any friends or organizations.
We make sure to help clients set up their estate plan so that their intentions are clear and carried out without conflict.
Happy Planning!
B.B.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship. Brittany Britton is licensed to practice law in the state of California only.
2 thoughts on “California Estate Planning with Friends as Beneficiaries”
Since last week, my uncle has been asking me about his inheritance plan which he plans to upgrade this fall. Well, I do agree with your stance that proper estate planning allows our will to be executed accordingly. Perhaps he could seek further clarification from a legal expert soon.
great work well done