Why Everyone Needs an Estate Plan (Yes, Even You)

An estate plan is a set of legal documents that protect your family, ensure your wishes are followed, and prevent the state from making decisions about your assets and children. Every adult over 18 needs one, regardless of age, wealth, or family status.

What Is an Estate Plan?

An estate plan is not just for the wealthy. It's a collection of documents that tell your family, doctors, and the courts exactly what you want to happen if you become incapacitated or pass away.

Without an estate plan, California law decides who gets your assets, who raises your children, and who makes medical decisions for you. These default rules rarely match what families actually want.

The 5 Core Components of an Estate Plan

Every complete estate plan includes these elements:

1. Revocable Living Trust - Holds your assets and transfers them to beneficiaries without court involvement
2. Pour-Over Will - Catches any assets not in your trust and directs them appropriately
3. Financial Power of Attorney - Names someone to manage your finances if you're unable
4. Healthcare Directive - Documents your medical preferences and names a healthcare agent
5. HIPAA Authorization - Allows designated people to access your medical information

Why Young Adults Need Estate Plans

Many people think estate planning is only for older adults with significant assets. This is a dangerous misconception.

If you have children, you need an estate plan to:

• Name guardians for minor children
• Establish trusts to manage inheritance until children are mature
• Prevent family disputes about custody

If you own property, you need an estate plan to:

• Avoid the 12-18 month California probate process
• Protect your equity from statutory court fees (sliding scale under Probate Code §10810)
• Ensure a smooth transfer to your loved ones

If you're an adult over 18, you need an estate plan because:

• Your parents can no longer make medical decisions for you
• No one can access your bank accounts to pay your bills
• HIPAA privacy laws prevent doctors from sharing information with your family

The Cost of Not Having an Estate Plan

When you pass away without an estate plan, California applies its "intestate succession" laws. Here's what happens:

• Married with children: Your spouse may only receive one-third to one-half of your separate property
• Unmarried with children: Your children inherit everything; no provision for a partner
• No spouse or children: Assets go to parents, then siblings, then more distant relatives
• No identifiable heirs: The state takes everything

The probate process to distribute these assets typically takes 12-18 months. Statutory fees under Probate Code §10810 follow a sliding scale—for a $1 million estate, approximately $46,000 in combined attorney and executor fees.

Common Estate Planning Myths

Myth: "I'm too young for an estate plan"

Reality: If you're over 18, you're legally an adult. Without documents in place, your parents cannot access your medical records or make healthcare decisions if you're in an accident.

Myth: "I don't have enough assets"

Reality: Estate planning is about more than money. It's about who makes decisions for you, who raises your children, and how your wishes are documented.

Myth: "My spouse will automatically get everything"

Reality: In California, community property laws are complex. Without a trust, your spouse may need to go through probate to access your assets, which freezes accounts and creates delays.

Myth: "I can do it later"

Reality: Estate planning only works if you do it while you're healthy and competent. An accident or sudden illness can happen at any age.

How to Get Started

The estate planning process is simpler than most people expect:

1. Gather information: List your assets, debts, and beneficiaries
2. Consider your wishes: Who should manage your affairs? Who should inherit?
3. Work with an attorney: DIY forms often fail; attorney oversight ensures documents are valid
4. Execute documents: Sign with proper witnesses and notarization
5. Fund your trust: Transfer assets into your trust for it to work

At Bordeaux Legacy Law, we offer two paths to get started:

• Start Now: Begin online at your own pace, with attorney review
• Traditional: Schedule a consultation to discuss your situation first

Both paths include complete estate planning packages at flat-fee pricing, with direct attorney access throughout the process.