Proper estate planning helps families avoid probate, reduce legal costs, and keep private matters out of public records during difficult times.
If you are an adult child with aging parents, this topic often surfaces during moments of concern rather than calm planning. A parent gets sick, memory starts to fade, or a sudden event forces decisions that no one feels ready to make.
At that point, families are reacting instead of preparing, which is when stress, confusion, and unnecessary costs tend to appear. Understanding what to do ahead of time creates clarity and gives families control before a crisis takes over.
What do I need to do to be ready? Being ready does not mean expecting the worst. It means understanding what would happen if your parents could not make decisions on their own. Many adult children assume they can step in automatically, but that is not how the system works. Without legal authority, even close family members are often unable to help with finances, healthcare decisions, or property matters.
Having a plan in place. A proper estate plan allows someone to step in when a parent loses capacity. This includes authority over financial decisions and healthcare decisions. Without these documents, families are forced into court just to gain permission to manage basic needs. Court involvement slows everything down, costs money, and makes private family matters public. An estate plan protects parents while they are alive, not just after death.
Update your estate plan. Many parents created an estate plan years ago and never looked at it again. Laws change. Tax rules change. Family relationships change. A plan that worked twenty or thirty years ago may no longer work today.
"With the right documents in place and a clear understanding of how assets are structured, families can avoid court, reduce stress, and protect what matters most. "
Plans created before 2000 are especially risky. In many cases, the people named as trustees or powers of attorney are no longer alive or able to serve. When no one on the list is available, families end up in court even though a trust exists.
Trust isn’t properly funded. Having a trust does not mean it works. A trust must be funded to do its job. This means assets must actually be placed into the trust. Many people believe their property is in a trust when it is not.
Refinances are a common reason for this issue. Property is often taken out of a trust during a refinance and never placed back in. Years later, families discover the problem is much harder and more expensive.
Make sure assets are properly titled. For a trust to work, assets must align with it. Real estate, bank accounts, retirement accounts, and life insurance beneficiaries all need to be titled correctly. If even one major asset is left out, probate may still be required. This is one of the most overlooked parts of estate planning and one of the most costly when missed.
Check if your parents’ property is in a trust. Real estate is often the easiest place to start. Checking how property is titled can quickly reveal whether a trust exists and whether it is properly funded. This step alone can uncover issues that would otherwise remain hidden until a crisis occurs.
How to find out if a trust exists? Many adult children do not know whether their parents have an estate plan at all. Looking at property records can provide clear answers and often opens the door to a productive conversation about planning, updates, and next steps.
The true cost of probate. Probate is slow, expensive, and public. In California, a one-million-dollar estate can result in about forty two thousand dollars in probate fees, regardless of how much debt is attached to the property. These fees increase as more assets are added. Probate also exposes family finances to the public, which can create risk for beneficiaries, especially children.
Planning for your parents should not feel confusing or overwhelming. With the right documents in place and a clear understanding of how their assets are structured, families can avoid court, reduce stress, and protect what matters most.
If you’re starting to think about these conversations and have questions about where to begin, feel free to reach out to us. Feel free to call or text me at 562-316-2915 or email me at [email protected].
If you need a real estate attorney for legal assistance or advice on estate planning, you can connect with Rebecca Secord through her website www.homelegal.com.
Taking the right steps todaywill protect your family later—and we’ll be here with you every step of the way.
