A Will is an important legal document to prepare. Below Gallinger Law will explain what a Will is and the importance of having one.
What Is A Will?
A will or testament is a legal document that describes how your property and other assets will be distributed after your death. When you make a will, you can also use it to name guardians for your children, dependents, or pets. If you die with a will, the will will usually be filed with your local probate court. This court then authorizes the executor to distribute your estate according to the directions in your will – as long as there are no disputes or other issues.
Different Types Of Wills
All wills must comply with California law. According to the California Supreme Court, there are three types of wills allowed in the state: attested wills, holographic wills, and statutory wills. Here’s more information on each:
Attested will- An attested will is the preferred type because it will be prepared by your attorney who has in-depth knowledge of California inheritance law. Once complete, you will need to sign your will in the presence of two or more witnesses. Neither witness can be a beneficiary. Your will is self-evident if a witness signs it under penalty of perjury or if your will is notarized. Probate courts consider self-certifying wills to be more valid and less likely to challenge their authenticity.
Statutory will- A statutory will is a free, printable form made under California law. If you’re not sure what to include in your will, these templates can simplify the process. As with an attested will, you must sign your legal will in the presence of two neutral witnesses. You can also make your statutory will self-explanatory.
Holographic Will-A holographic will is a handwritten will. Although you don’t have to sign this will in front of witnesses, you must handwrite it yourself. You should nominate someone who can provide a sample of your handwriting or certify that your will was handwritten. Otherwise, the probate court may not recognize your will as valid.
What Is The Purpose Of A Will?
Everyone over the age of 18 should have a will. If you have any savings, investments, property, or loved ones, be sure to take the time to make a will. In the absence of a will, assets are distributed according to state law and the courts. In these cases, the District Court will distribute your property according to your state’s inheritance laws. These usually leave part of your estate to your spouse or partner, your children, parents, siblings, or other relatives. However, this is not necessarily the order or quantity you want.
Need Help Creating An Estate Plan?
No matter who you are, there are some simple steps you can take now and create an estate plan to make life easier for your loved ones. Even if your net worth is small, estate planning can still benefit you and your family. The most basic parts of these estate plans are a will and powers of attorney—specifically, health care powers of attorney and financial powers of attorney. These documents allow a trusted relative or friend to make decisions on your behalf when you are very ill and/or mentally or physically unable to make decisions for yourself.
Leaving a will behind is an important part of estate planning. If you need help creating one consider Gallinger Law. Our attorneys help clients near Los Angeles County, the Inland Empire, and Orange County with trusts and wills, business law, non-profit, and/ or immigration. Call 888-255-9147 to book a consultation.