In California, the process of dividing property is called equitable distribution. It does not mean that every asset will be divided equally. Instead, it means that the court will decide how to divide all of the assets fairly unless, with your estate attorney you have established a will. This process may not be fair, but without official guidance, the California courts will make the final decision as to how to divide your assets.
Before you get started, you should create a list of your assets. During this process, you must be thorough, which means identifying all assets. You must also be honest with your estate attorney about your finances, as well as any other assets that you might have. By being upfront about your finances, you will be more likely to end up with a fair division.
If you have no family, consider leaving your estate to a charity or organization. You can leave a portion of your estate to a particular person, or even a charitable organization if you do not have any close relatives. If you have a few assets, you can leave them to a nonprofit. These organizations are often more likely to receive your estate than a family member. They will be in a better position to help you pass along your wealth.
If you do not have a spouse, you can choose to leave your assets to a charitable organization. These organizations, in turn, can help children in need. While estate planning for single people may be sensitive, it is essential to consider all options and make the right decisions. If you have no family, you can still leave a bequest to charity. For instance, a charitable organization may be your favorite cause. Then, a school or an organization that specializes in the field of your choice may be the best option for your legacy.
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