What is a Will?
A will is a legal document that outlines how a person’s assets will be distributed after their death. In California, wills are commonly used as a key part of estate planning.
What Should I Know About Wills?
Here are some important things to know about using wills for estate planning in California:
- Requirements for a Valid Will: To create a valid will in California, the person making the will (known as the “testator”) must be at least 18 years old and of sound mind. The will must also be in writing and signed by the testator or someone acting on their behalf, and witnessed by at least two people who are present at the same time the testator signs the will.
- What a Will Can Do: A will can be used to name an executor to manage the distribution of assets, as well as beneficiaries who will receive those assets. It can also be used to name guardians for minor children and make other important decisions related to the testator’s assets.
- Property That Can Be Disposed Of: A will can dispose of any assets that the testator owns at the time of their death, including real estate, personal property, and financial accounts. However, it cannot be used to distribute assets that are held in a trust, joint tenancy, or certain other types of ownership.
- Probate: In California, a will must go through probate court before the assets can be distributed. This process can be time-consuming and expensive, so some people choose to use other estate planning tools, such as trusts, to avoid probate.
- Updating a Will: It’s important to review and update a will periodically, especially after major life events like a marriage, divorce, birth of a child, or purchase of a significant asset. If a person dies without a valid will, California law will dictate how their assets are distributed, which may not align with their wishes.
Overall, a will can be a useful tool for estate planning in California, but it’s important to work with an experienced estate planning attorney to ensure that the document meets all legal requirements and accurately reflects your wishes.
How Can Working With An Estate Planning Attorney Help Me Draft My Will?
There are several reasons why working with an experienced estate planning lawyer to draft a will in California is important:
- Knowledge of California laws: An experienced estate planning lawyer will have a thorough understanding of California laws related to wills, trusts, and estates. They can ensure that your will complies with all relevant state laws, minimizing the risk of legal challenges or disputes after your passing.
- Customized estate plan: An experienced estate planning lawyer can work with you to create a customized estate plan that meets your specific needs and goals. They can help you identify potential issues or complications, such as tax implications or family dynamics, and develop strategies to address them.
- Minimizing taxes: An experienced estate planning lawyer can help you minimize the amount of taxes your estate will owe after your passing. They can advise you on strategies such as setting up trusts or making charitable donations that can help reduce your tax liability.
- Avoiding family disputes: An estate planning lawyer can help ensure that your will is clear and unambiguous, minimizing the risk of disputes or litigation among family members after your passing. They can also help you make provisions for minor children or other dependents, ensuring that their needs are met according to your wishes.
- Peace of mind: Finally, working with an experienced estate planning lawyer can give you peace of mind, knowing that your wishes will be carried out after your passing. You can rest assured that your loved ones will be taken care of, and your assets will be distributed according to your wishes.
At Central Coast Estate Planning, we offer a FREE, confidential consultation with an award-winning attorney. Estate Planning Attorney, John McCarthy is locally grown, but nationally known. He was born and raised on the Central Coast, but he is recognized throughout the United States for his legal knowledge, training, and skill. If you are considering getting a will done, why not schedule a free, confidential consultation with John today?
