California residents may be aware of the importance of backing up the hard drives on their computers with a regular schedule because a backed up drive may be very easy to download and restore. The same kind of planning can also help to streamline the closing of an estate after a person has passed on.
A 2012 survey reveals that 41 percent of baby boomers do not have wills, and 71 percent of those under the age of 35 are missing documentation of their wishes at passing. Without a will, property will be distributed in accordance with state laws of intestacy, and the court may even make personal decisions about who will care for a decedent's minor children. In addition, the lack of a will may delay the distribution of assets to loved ones. Estate documents typically consist of a will, a durable legal power of attorney, a durable medical power of attorney and a living will.