Some Basics on Having a Will

Basic Definition of a Will

A will can be defined as a legal document where it is stated who is going to receive your estate after you have died. Additionally, it allows you to name a legal representative so as to oversee the distribution of property in accordance with your wishes.

Consequences of Dying Without Having a Will in Place

When an individual dies without having a will, the person's property is distributed according to a specific formula fixed by law. Individual family needs are not taken into consideration and legal costs increase. Without a will, it will go unstated as to whom you want to handle your affairs after you have departed and this in itself can create upset amongst the family.

Determine Who You Want to Manage your Affairs

This is an important decision and you should appoint someone responsible and who you fully trust. It can be a spouse, a relative, a close friend or even a trust company. This person will be responsible for paying any debts of the estate and distribute the remaining estate to the named beneficiaries.

Creating a will on your own is risky and is better done by a legal expert with the proper training and experience so as to create a document that will reflect your specific wishes and protect all those involved.

If you haven't yet created a will, now may be a good time to make this happen.  Life can sometimes be filled with unexpected events and being prepared is a far more responsible and comfortable position to enjoy and will afford you some peace of mind.

To find out more about wills and estate planning, set up a consultation with one of our experienced California estate planning attorneys from Claery & Green

To arrange a consultation, contact the office at 310-362-2273 today.