A recent story in the ABA Journal tells the tale of Ann Aldrich, a Florida woman who used a DIY (do-it-yourself) last will and testament much to the delight of two of her nieces. Even though not given an inheritance through the will, the nieces ended up inheriting a portion of the Aldrich estate because a Florida court found that the document Aldrich used was partly deficient. Even though Aldrich’s DIY will actually complied with the basic legal requirements imposed under Florida law, it was … [Read more...] about Court Says Woman’s DIY Will a “Cautionary Tale”
Wills
Wills and Trusts in California: They Work Hand in Hand
One of the more popular misconceptions about estate planning is that if you create the right tool, such as a revocable living trust, you don’t need to create other tools. While having any kind of estate planning tool in place is good, relying on any one element is never something you should do. The reality is that an estate plan is like a well-crafted jigsaw puzzle. In order for you to get a complete picture, each of your pieces have to fit together with the others. This is especially true if … [Read more...] about Wills and Trusts in California: They Work Hand in Hand
Why You Need a Will and a Living Trust
Both a revocable living trust and a last will and testament are important pieces of every estate plan. Though estate plans also include other tools, living trusts and wills are essential because they both cover different areas. When people in California create an estate plan, they sometimes ask if they can only create one or the other. While you are never obligated to create any kind of estate planning tool, choosing to create either a living trust or a last will and testament without creating … [Read more...] about Why You Need a Will and a Living Trust
California Probate: Can I Start Probate if I Can’t Find The Will?
California probate is often viewed as a difficult process. There is, in fact, a lot of truth to the idea that it can be difficult to manage probate simply because most people are so unfamiliar with. This is especially true when, for example, people believe they need to be in possession of a decedent’s last will and testament before they go to probate court. Fortunately, if a relative of yours has died in California, you don’t need a will to begin the probate process. Can’t Find the Will Most … [Read more...] about California Probate: Can I Start Probate if I Can’t Find The Will?
Naming Co-Executors: Good? Bad? Other?
One of the most important decisions you have to make when making a last will and testament is deciding on who will be the executor. Also known as a personal representative, your executor has important responsibilities when it comes to managing your property after you die. Because of the vital nature of the position, some people consider naming two or more co-executors. Here’s what you need to know if you’re considering naming co-executors. Why people choose co-executors. Many people who create a … [Read more...] about Naming Co-Executors: Good? Bad? Other?
Practical Steps to Take When Dealing With Tangible Personal Property in an Estate
Part of an executor’s job is to account for everything the decedent leaves behind. Many of the items you have to account for, such as investment accounts, real estate, and bank accounts, are very easy to identify and value. One of the harder tasks you may face, however, is categorizing and valuing the mountains of personal property that some people leave behind. Here are some practical concerns you will need to be prepared to deal with when you begin the inventorying and valuation … [Read more...] about Practical Steps to Take When Dealing With Tangible Personal Property in an Estate
Don’t Have a Will? Now is the Time to Make One!
Many people put of their estate planning needs, and don’t even take the time to create a will. Depending on the size of your estate, a will can an important estate planning document that can allow you to achieve a number of things. If you choose to put off some of full estate planning, you should at least take the time to create this important estate planning document. Take a look at the information below, to learn more. If you have any questions, or if you’re ready to begin your estate … [Read more...] about Don’t Have a Will? Now is the Time to Make One!
About Self-Proving Wills
A complete estate plan always includes a last will and testament, even if you use other tools that make the will little more than a safety net. But even if you don’t plan on using your will for important decisions about passing on property, you will want to make it as easy as possible for your estate to validate the will so it will minimize any probate costs. One of the best ways to do this is to create a self-proving affidavit that will accompany the will. Here’s what you need to know. Witness … [Read more...] about About Self-Proving Wills
3 Common Ways to Transfer Your Home to Your Children: Pros and Cons
Your family home may well be the largest piece of property you own, and one that will form a large part of your estate. When it comes time to leave your home to your children there are several options available to you. Some options are more commonly employed than others, and like all other estate planning choices it’s best to discuss each of them with your attorney before you decide on the method that is right for you. Will Transfer If you create a last will and testament you can use it to … [Read more...] about 3 Common Ways to Transfer Your Home to Your Children: Pros and Cons
Do I Have to Register my Health Care Directive in California? 3 Questions
Question 1: I’ve made an advance healthcare directive. Do I have to register it with the state? No. There is no legal requirement that you register or file any advance healthcare directive you might have made with a government office. Advance healthcare directives in California have to meet specific legal requirements, but registering them is not one of those. The California Secretary of State’s office does offer a voluntary registration service, but you are not obligated to use it. Question … [Read more...] about Do I Have to Register my Health Care Directive in California? 3 Questions
