Creating an estate plan is one of the most important steps you can take to protect yourself, your assets, and your loved ones. Understandably, however, people often feel overwhelmed by the prospect of getting through the estate planning process and delay getting started. If you are ready to take control of your future but are unsure where to begin, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain 10 steps that are typically required to create a California estate plan.
- Retain an Experienced Estate Planning Attorney. While online templates and kits may seem appealing, estate planning is far too important to trust to generic documents. Every individual and family is different, and California’s legal landscape presents unique challenges and opportunities. An experienced attorney can tailor a plan to your specific goals and circumstances, ensure your documents comply with state law, and help avoid costly mistakes that could affect your beneficiaries down the road.
- Clarify Your Estate Planning Objectives. Many people think of estate planning only in terms of passing assets to loved ones. While that is certainly a key component, your plan can also address health care decisions, long-term care planning, minor children, special needs, business succession, and charitable giving. It is important to identify your priorities so your attorney can help craft a plan that aligns with them.
- Take Inventory of What You Own and Owe. You likely already know the broad outlines of your finances, but creating a detailed list of your assets and liabilities is a crucial part of planning. Include real property, investment accounts, retirement funds, business interests, and personal valuables. Make sure to list outstanding debts such as mortgages, car loans, or credit card balances. Knowing your full financial picture allows your attorney to recommend strategies to protect your wealth and minimize taxes.
- Identify the Individuals or Organizations You Want to Benefit. Deciding who will receive your assets is another essential part of the process. Start with immediate family, but also consider extended relatives, friends, and charitable organizations. Think about how you want the assets distributed, whether outright or in trust, immediately or over time. Be sure to name backup beneficiaries in case someone predeceases you.
- Appoint Trusted Decision-Makers. In addition to deciding who receives your assets, you need to choose the individuals who will help carry out your wishes. These fiduciaries may include the Executor of your Will, the Trustee of a trust, your agent under a Power of Attorney, and your health care proxy. These roles require responsibility, attention to detail, and sometimes technical skill. Choose individuals who are reliable, trustworthy, and capable, or consider appointing a professional fiduciary.
- Consider the Role of Digital and Nontraditional Assets. Estate planning is no longer limited to physical property and financial accounts. Many individuals now own digital assets such as cryptocurrency, online accounts, digital photos, or intellectual property. You should identify these assets and provide instructions for managing or transferring them. California law allows you to grant authority over digital assets through your Power of Attorney or Will, so be sure to include this in your planning discussions.
- Prepare the Necessary Legal Documents. After you have made the key decisions, your attorney will prepare the required documents. This may include a Last Will and Testament, one or more trusts, a Power of Attorney for financial matters, and an Advance Health Care Directive. Your estate plan should be as comprehensive as your situation demands and reflect your personal values and goals.
- Execute Your Documents Properly. Signing your estate planning documents is not just a formality. Each must be executed in accordance with California law to be legally valid. Your attorney will guide you through the process and ensure that witnesses and notarization requirements are met. This step helps avoid disputes or confusion after your death or incapacity.
- Safeguard and Share Key Information. Having a plan is not helpful if no one knows it exists or cannot find your documents. Keep your signed originals in a secure but accessible place, such as a fireproof safe. Let your fiduciaries know where your documents are kept and how to access them if needed. You may also want to maintain a list of accounts, passwords, and professional contacts in a secure location.
- Review and Update Your Plan Regularly. Estate planning is not a one-time task. Life changes, such as marriage, divorce, the birth of a child, retirement, or a significant financial shift, can make portions of your plan obsolete. In addition, changes in California or federal law may affect how your estate is taxed or administered. It is a good idea to review your plan every three to five years or whenever a major life event occurs.
Can We Help You with the Steps Required to Create Your California Estate Plan?
For more information, please join us for an upcoming FREE seminar. If you would like assistance with the steps involved in creating your California estate plan, contact the experienced Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors by calling (310) 337-7696 to schedule an appointment.
A graduate of Boston University School of Law, Scott P. Schomer is a frequent lecturer on estate planning and elder law issues, having discussed these important issues on local and national television. A seasoned courtroom advocate, Scott has obtained combined judgments and verdicts in excess of twenty-five million dollars for his clients. Read More!
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
- Reasons to Incorporate a Living Trust into My California Estate Plan - August 16, 2026
- What You Need to Know about Funding a Trust in California - August 15, 2026
- Estate Planning for Real Estate Owners in California - August 14, 2026
