Many people think that creating a will is necessary only for the very wealthy or only for those who are elderly or suffering from a serious illness. However, all mentally competent adults must have a will.
You work hard to ensure a future for you and your family. After it's gone, you likely have a vision of the legacy you would like to leave behind. For many people, this legacy includes the support of their surviving family members.
It can include a gift for close friends and people who have helped you in life. Your legacy may include a kind donation to a charitable organization that supports causes important to you.
Without a will and a last will, you will have no opinion on how your wealth and property are distributed. Instead, the intestate law will determine the division of your estate. An experienced and the Best Trust Attorney in Orange County, CA can help guide you through the process of writing a will.
Estate planning is for everyone, and working with a Best Probate Attorney in Orange County, CA can help you create a will that supports the vision of your legacy.
Consequences of not having a will:
If a person dies intestate, or without a will, the law prescribes how the estate will be distributed, regardless of the wishes of the deceased for the estate.
In general, all assets will be transferred to the surviving spouse. However, if the decedent has children from a relationship other than with the surviving spouse, the children and descendants will receive two-thirds of the estate, and the surviving spouse will receive one-third of the estate.
Estate planning is important to everyone, but it can be crucial for those who have divorced and remarried or for those who have children outside of the current marriage.
Value of creating a will:
Explicitly defining the terms of your state's transfer and division of assets among your beneficiaries can reduce stress and conflict between them after your death.
Choosing the executor of your will allows you to choose someone you trust to oversee the administration of your will, rather than leaving the choice of an executor to a judge.
Having a will can reduce the expenses your estate incurs as a result of estate management, and careful estate planning can also reduce the tax burden.
However, a last will and testament are more than a simple transfer of wealth. It also allows you to appoint a guardian for your minor children after death and create a trust that will provide for your children's education. Search Trust Lawyer Near Me today, and prepare your will with the help of an experienced lawyer.