Some married couples think that estate planning isn’t necessary because “everything goes to my spouse when I die anyway.”

But estate planning isn’t just about planning for death!

Estate planning is also planning for incapacity: meaning any time that you are unable to make a financial or medical decision for yourself. Without proper documents, your spouse CANNOT make any financial or medical decisions on your behalf! Your spouse would have to go to court to get the right to make decisions for you if you’re not able to make decisions yourself. (Remember: Incapacity can be temporary (e.g. a car accident) or longer term (e.g. dementia).)

You need to designate your spouse in a financial power of attorney and a healthcare power of attorney. If you haven’t done this, then your spouse will need to go to court to get the right to make those decisions.

In addition to the powers of attorney, there are compelling reasons to set up a trust in California. The trust helps you avoid probate (a costly, lengthy, public court proceeding). And probate deals with your estate if you have no will OR only a will.

Another reason is to plan for the “what if” scenarios that trusts allow you to do. Trusts (not wills) allow you to come up with alternative plans in advance. For example, what if your spouse predeceases you? What if your children are under 18 years old? What if you or your spouse need government needs-based assistance? What if…?

And that is why you do an estate plan: so you can plan, in advance.