Should You Wait To Draft A Will And Testament In Los Angeles?

A Last Will and Testament is a legal document that outlines who you wish to inherit your possessions and money when you pass away. If you have small children, your will can also be used to select a guardian to look after them after your passing and to establish a trust to take care of their financial needs in the future.

In short, a Last Will and Testament can designate who will take care of your estate after your passing.

That said, why does every California estate lawyer advise that you get it as soon as you're able? Isn't a last will and testament something you would get to when you're old?

Who Can Make A Last Will And Testament In California?

A Last Will and Testament is something that every adult who owns property or has children should think about drafting. This is especially valid if you:

• Want to decide how your assets will be distributed after you pass away

• Possess property you own alone or without designated beneficiaries, such as a home, checking, savings, or retirement accounts.

• Have young children (under 18)

• Have loved ones you want to support when you pass away

• Want to donate money to a charity after you pass away

• Have no near relatives and do not want your inheritance to be held by the state as unclaimed property

As you can, nothing in this list indicates that you have to be old or at a certain age to draft a will. The reality is that no one really knows when we'll die, so it's better to have a will set up regardless of what happens. So, it's best to contact a Los Angeles will and testament lawyer to get started on your estate planning.

What If I Didn't Have A Last Will And Testament In California?

If you pass away and don't have a will, your estate goes directly to your heirs at law. Your collateral heirs are next in line if you don't have a spouse or children. If none of those above legal heirs are there, the state must look for a relative to offer the estate to.

Having a last will and testament means you can distribute your assets to chosen beneficiaries as you please. For example, you can give some to a charity, unadopted stepchildren, or other important people in your life.

What Are The Requirements For A Last Will And Testament In Los Angeles?

You need to prepare the following things before writing your last will and testament:

• A list of all your possessions and an estimate of their value. You don't want to forget a bank account or property should they need to be distributed to chosen beneficiaries.

• The full names of each person or organization you'll list in your will. It's also important to be very specific about your beneficiaries, especially when naming a group or organization.

• A list of who gets specific properties. I.e., who gets the house, the cars, etc.

• If you have minor children, list the full names of the people you want to be your executor, trustee, and/or guardian. Trustees will be in charge of managing your estate for your children. So, make sure you're choosing someone with whom you have a great personal relationship and who can also handle financial and legal matters of your estate.

It's also best to consult a prescreened California will and testament lawyer to draft your will. While holographic wills can be considered valid, you might miss something that would affect its viability as an executable legal document.

Contact An Estate Planning Attorney In California ASAP!

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