Many people mistakenly believe that a simple Will is all the estate planning they need. However, it is very likely you may need more than a Will to cover your all assets. A Will does not cover all types of property. This is a list of five items your will cannot cover or address. Survivorship property: If you own property in joint tenancy with a right of survivorship with a co-tenant, your Will does not determine ownership and succession rights. Instead, the surviving joint tenant … [Read more...] about 5 Types of Assets A Will Does Not Cover
Wills
Our Available Services During COVID-19/Coronavirus Pandemic
The health and safety of our clients, staff, and friends of the law firm are top of mind amid concerns about the spread of the Coronavirus (COVID-19). As estate planning and elder law attorneys, our practice is dedicated to serving our most vulnerable citizens, including seniors, those who are ill, disabled, experiencing mental health challenges and children with special needs. The uncertainty around the pandemic has many people with immune system challenges concerned about exposure to the … [Read more...] about Our Available Services During COVID-19/Coronavirus Pandemic
MYTH: Most People Have a Will and that’s All They Need
Both parts of the title to this article are a myth. First, most people don’t have a will. In fact, it’s estimated that only about half of all Americans have a will; even though, all need one. Second, a will is not all that anyone needs. A will only handles a few matters and is only effective when you’re dead. There’s much more to estate planning than that. For example, a will almost guarantees probate, except for modest estates. Probate is expensive, especially in California. Probate … [Read more...] about MYTH: Most People Have a Will and that’s All They Need
Common Mistakes to Avoid When Creating Your Will
For some people, a Last Will and Testament serves as the foundation upon which their estate plan is built. Giving the importance of a Will, it should be error-free, particularly because any errors or problems with the Will are not likely to be uncovered until after the creator is gone, meaning it will be too late for you to fix errors or explain ambiguities. With that in mind, let's look at some of the most common mistakes people make when creating a Will so that you can try and avoid making … [Read more...] about Common Mistakes to Avoid When Creating Your Will
Can a Spouse Contest a Will?
When a spouse passes away there are also several practical and legal matters that must be addressed shortly thereafter. One of those legalities involves locating and reading the decedent’s Last Will and Testament. If you have concerns about the Will after you read it, can you do anything about it? Let's explore if and when a spouse can contest a Will in California. Probate Basics A decedent’s estate is required to go through the legal process known as probate. If a Will is located, the … [Read more...] about Can a Spouse Contest a Will?
Is a DIY Will Valid?
If you have yet to create your estate plan, you may be tempted to try taking a shortcut by turning to easily located online legal forms such as DIY Wills, trusts, or other estate planning documents. After all, using a DIY Will should save you both time and money and finally get your estate plan started, right? It may seem that way to you; however, in the end, your loved ones may pay the price for your shortcut because of the hidden dangers in DIY Wills. Let's explore why a DIY may be declared … [Read more...] about Is a DIY Will Valid?
Proving Undue Influence in a California Will Contest
In the normal course of events, the terms of a decedent’s Last Will and Testament are made public shortly after his/her death. Usually, the terms are not surprising; however, occasionally the terms of the Will are not at all what was expected. In fact, it may be that the entire Will does not sound like something the decedent would have written. When that is the case, you could have the basis for a Will contest if you believe that those terms are the result of someone exerting “undue influence” … [Read more...] about Proving Undue Influence in a California Will Contest
Covid-19 and Your Estate Plan
The COVID-19 crisis has caused many people to realize that life-changing events can happen unexpectedly and turn their lives upside down. The myriad of challenges caused by the COVID-19 pandemic have given many pause to rethink their concerns and priorities. Estate planning is one area that should get attention, and possibly revision, as a result of the impact of current events . Here are some things to consider as you review your existing plan. Are all your estate planning documents up … [Read more...] about Covid-19 and Your Estate Plan
So You’ve Been Named the Executor of A Will. Now What?
Under ideal circumstances, you will know well ahead of time if someone plans to nominate you to be the executor in a Last Will and Testament. Of course we all know that life doesn't always present us with ideal circumstances. If you have recently been notified that someone died and nominated you to be the executor of the estate in his or her Will, you may be wondering what to do next. To begin with, you need to know that you are not required to accept the position of executor. You are free to … [Read more...] about So You’ve Been Named the Executor of A Will. Now What?
What’s the Difference between a Will and Living Will?
You’ve probably heard of the terms “will” and “living will.” However, if you are like most people, it may be confusing to fully understand the differences between these terms. While they are both very different, it is important to implement both into your estate planning. Take a look at what both of these legal documents offer: A will, also known as a last will and testament, is only effective after you die. It has no effect during your lifetime. A living will is only effective during … [Read more...] about What’s the Difference between a Will and Living Will?
