A Quick And Easy Guide To Writing Your Own Will In California
Yes, you can write your own will. That said, you need it to be detailed enough so your requests can be carried out after you pass. If your will is vague, incomplete, or hard to understand, it might be prone to will contests.
That said, here are the basics of writing wills, as often done by Glendale Estate Administration Attorneys in California.
If your objectives are simple, you may not need to devote as much time to create your will. Although, it still needs to be clear about what you want to do with your estate.
Here are a few details you need in your will:
Your legal name (the one you use for work, voting, and banking)
Your beneficiary's (or multiple beneficiaries') legal name(s)
Your children's legal names and birthdates
Names of personal guardians
Names of people who will look after your children if you are unable to
Your pets' names and contact information, as well as the people who will care for them if you are unable to
An estimated inventory of your belongings (you won't need this if you're leaving it to one or a few individuals)
The names of people who will benefit or inherit
The names of beneficiaries to whom you would leave your land if your first-choice beneficiaries died before you
Names of persons who will be in charge of finalizing and processing your will, as well as alternates
Debts you want to be forgiven (including names and amounts you want to be forgiven)
To make your will valid, you and two witnesses must sign it. Even if notarization isn't required, you can attach a "self-proving affidavit," which is required in some areas.
Despite the fact that the affidavit assists your executor in getting probate for your will after your death, it is not required. If you require assistance with your Will and Testament, contact a prescreened Glendale Estate Attorney.
Important Factors In Drafting Your Own Will
As you move on with inheritance planning, you may face a variety of challenges and factors to consider, including:
1. The Inheritance
For liquid assets, the optimal inheritance planning alternatives differ greatly from those for land, shares, stocks, and other types of assets. You don't want to forget or make crucial mistakes in the assets you want to be managed after you pass.
Our Glendale Estate Lawyers have extensive experience evaluating inherited properties and determining the best long-term solutions for you and your family.
2. The Financial Status Of Beneficiaries
Consider the beneficiary's financial situation when preparing an inheritance because it can affect whether the gift is spent or kept.
If the beneficiaries have a lot of debt, for example, inheritance planning will prioritize debt repayment and retirement savings. This will benefit them more than just giving them an estate and leave them to process that on their own.
3. Current Estate Plan
The likelihood of a significant gift in the future will drive the beneficiary to create an estate plan if they do not already have one.
When beneficiaries have estate plans in place, inheritance planning can also require amending the provisions of people's wills (and other estate planning instruments) to account for the inherited property and/or properties.
Possible Caveats: Will Challenges
Yes, it's possible for beneficiaries to feel left out or cheated out on their inheritance. This is why your last will and testament need to be clear about how you want your assets divided in the future.
Will contests can be an excruciating process and can be avoided with a well-drafted and organized will that considers all of the beneficiaries and your available assets.
Bottom-line
To summarize, when it comes to inheritance planning, there is a lot to consider, and having one of our prescreened Glendale Estate Administration Attorneys on your side can help you make the best decisions possible.
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