If you’re currently taking care of estate planning, drafting a will is often a critical step in the process. Unfortunately, people pass away without first having created their wills, trusts, and without any provisions for the distribution of assets. Whenever this occurs in California, the individual’s property and money must be distributed according to California law rather than the wishes of the deceased individual.
In instances where there is no will, the distribution of property will be determined based upon the recipients’ relation to the deceased. Other kinds of property, such as 401ks, insurance proceeds, joint bank accounts, and other forms of financial investments, will be given to whomever was designated as the beneficiary. Other items, such as an individual’s home, may be deemed community property; if this is the case, for instance, the house will become the sole property of a surviving spouse.
However, if you would like to control just how your assets and property are distributed, you’ll need to draft and sign a will. Most individuals aren’t sure where to start when it comes to creating a will. After all, this is a legal document, and there is a variety of requirements that you will need to meet. If you fail to meet any of these requirements, it could be determined that your will isn’t legally binding. Of, if your will is in any way unclear, this could lead to serious conflicts within your family down the line.
If you are looking to limit probate court involvement, simplify the distribution of your property, and make sure that guardians are available to care for your minor children, you’ll need to work with an experienced wills attorney, such as those at McCunn Law.