Some people believe that they do not have enough assets to bother with a will. Others believe that a will causes your heirs to have to go through probate, leading to unnecessary expenses. If you own ANY KIND OF PROPERTY, you should definitely have a will and trust in place. Many people think it isn’t necessary until later in life, but that is wrong! You should be protecting yourself and your family always!
A Will and Trust is especially important for these reasons:
1. Avoid the Probate System. Anyone that has been involved in a matter that makes it to the probate court, understands that it is a process that you should do everything in your power to avoid. Probate courts serve the purpose of “administering your estate”, and when you die without a will, they will decide how to divide estate without your input, which can cause long, unnecessary delays. With a properly established will, trust and power of attorney, there is no necessity to go through the courts.
2. Pass your wealth in the manner that you choose, not the manner that the Courts choose for you. If you die without a will, there is no guarantee that your intended desires will be carried out. With a concisely written and poignant will and trust, power remains in your hands while you are alive and you make the decisions on what happens once you have passed.
3. Save your heirs from the headache and costs of going through the California probate system. While Distinct Law Group is aware that some of us do not want to pay the fee of creating a will and trust, this fee pales in comparison to the fees that will be incurred if you do not take action in establishing your will and trust.
4. Ensure that everyone you want to take care of, is actually being taken care of. This includes family, friends, pets, charities, businesses, employees, etc. The state of California has a finite way in which they will distribute your assets upon you passing. However, with a Will and Trust, you retain control of who gets what and when they get it.
5. Keep your Finances Private. By properly creating a will and trust, your wealth and assets are not made a matter of public record and remain a private matter.
The attorneys at Distinct Law Group are here to help you draft your will in which will provide the framework for distributing your property, establishing who will care for your children and otherwise express your wishes upon your death including any wishes you have regarding burial or funeral arrangements. Your living will can also set the considerations for medical intervention should you become incapacitated. This assures that when you are most vulnerable, your wishes will be honored.
There are many more details involved in preparing a Will and Trust and this article is meant to only be a quick explanation as to the advantages of having a Will and Trust and is in no way to be construed as legal advice as every individual’s situation is different.
Call our office today at 714-546-4600 for a free consultation regarding your specific situation.