Planning your estate is one of the most thoughtful things you can do for your family. It gives your loved ones clarity and protection when they need it most. This checklist walks you through the key steps to building a solid estate plan in California.
Create a valid will
A will states who receives your assets after your passing. Without a valid will, California’s intestate succession laws decide how to divide your estate. Intestate succession means the state distributes your assets based on a fixed legal order, typically prioritizing spouses, children and then other relatives. This process often fails to account for your specific wishes or the unique dynamics of your family.
Consider setting up a living trust
In California, estates valued above $208,850 for deaths occurring on or after April 1, 2025 must go through probate. A living trust holds your assets while you are alive and transfers them to your beneficiaries after your death, bypassing the probate process. A properly funded trust allows your family to receive their inheritance without court delays or excessive legal fees.
Name your beneficiaries
Beneficiaries are the individuals designated to receive specific assets from your estate. Review the designations on your retirement accounts, life insurance policies, and bank accounts. Under California law, these designations transfer assets outside of your will. For example, a former spouse still listed on an account will receive those assets unless you update the form.
Prepare a durable power of attorney
A durable power of attorney authorizes a trusted person to manage your financial affairs if you become incapacitated. This includes paying bills, managing accounts and handling property transactions. Without this document, your family must petition the court for a conservatorship. A conservatorship is a legal arrangement where a judge appoints someone to manage your finances or personal care on your behalf. This process can be both costly and time-consuming.
Include an advance healthcare directive
An advance healthcare directive records your medical treatment preferences when you cannot communicate them. It also designates a healthcare agent to make medical decisions on your behalf. This document ensures that medical staff follow your specific wishes rather than relying on family members to interpret them.
Review and organize your assets
A complete asset inventory is a necessary part of estate planning. Your executor relies on this information to fulfill your wishes. List all bank accounts, real estate holdings, retirement accounts and life insurance policies. Update this list after major life events such as marriage, divorce or the birth of a child to ensure it remains up-to-date.
Start planning for your family’s future
Estate planning does not have to feel overwhelming. Starting early can give you more time to review your plan and make adjustments as your life changes. The decisions you make today give your family a clear path forward and reduce the uncertainty they may face during an already difficult time.