There is no particular time frame in which you should create an estate plan in California. However, it is definitely worth considering either if you have assets you’d like to protect or people you wish to provide for in the event of your incapacity or death. There are several key life events that often prompt people to begin the estate planning process. These include:

1. Acquiring significant assets: If you have accumulated substantial assets, such as real estate, investments, business interests, or valuable personal property, it is advisable to create an estate plan to ensure the proper management and distribution of those assets. In California, it’s important to note that this could be any amount over $184,500.

2. Marriage or domestic partnership: When you get married or enter into a domestic partnership, it is essential to consider how your assets should be managed and distributed in the event of incapacity or death. An estate plan can help address these concerns and provide for your spouse or partner.

3. Having children: Becoming a parent is another milestone that often triggers the need for estate planning. You may want to appoint guardians for your minor children, establish trusts to manage their inheritances, and designate beneficiaries for your assets.

4. Changes in marital or relationship status: Divorce, separation, or the dissolution of a domestic partnership can significantly impact your estate planning needs. It is important to update your estate plan to reflect your new circumstances and intentions.

5. Changes in health or aging: As you grow older or face health challenges, it becomes crucial to consider incapacity planning. This involves appointing someone you trust to make medical and financial decisions on your behalf through documents such as a durable power of attorney and healthcare directives.

6. Business ownership: If you own a business or have interests in a company, estate planning can help ensure a smooth transition of ownership, protect the business's value, and provide for your family's financial security.

Estate planning is an ongoing process and should be reviewed (and possible updated!) periodically to account for changes in your life circumstances, financial situation, or changes in applicable laws. Contact me for a complimentary consultation to discuss your goals and priorities.