In life, we accumulate many assets. To ensure your prized possessions get distributed according to your wishes after you pass, take the time now to sit down with an estate planning lawyer and prepare your will. By setting aside time in the present to decide what should go where in the future, you can rest assured that your assets will be distributed as you intended. Here are five key items to include in your will:
1) Guardianship of your children
If you have children, they will undoubtedly be at the top of your mind. Take time to plan for the worst case scenario. If you pass away today, who should be the legal guardian of your children? Make sure that as you structure your will, that individual will have access to resources to raise your children. Perhaps more importantly, make sure that that person knows that they are being designated a guardian under your will. They should understand what responsibilities guardianship comes with before agreeing.
2) Property
Make sure to explain what should happen to any pieces of property that you own. State who should inherit the property. If you have any additional expectations (like that the property not be sold or that it stay in the family), you should express that in your will.
3) Assets
Explain what should happen to all of your assets. This can include cash, cars, collectibles, antiques, and investments just to name a few. Also, specify what should happen to any items of high sentimental value to you. Again, if you have any additional expectations about what should be done with these assets, include that in your will.
4) Inheritance
Simply put, make sure that you designate recipients for all of your important items. Likewise, if there is someone that you care about who hasn’t been mentioned in your will, you should ask your lawyer how you can include that person.
5) Name an executor
Now that you have decided who should get what, you need to name someone to carry out your wishes. Think of the best person for this role. They must distribute your items as you have specified, but they also must embrace your spirit to figure out what should happen with the items that you haven’t covered. Your executor is the person that you trust most to fulfill your wishes after you are gone.
After you and your lawyer have created your will, it is filed and goes into effect. It’s very important that you use a lawyer experienced with creating wills and trusts to ensure that the document is legally valid and enforceable, according to state probate laws. Mistakes in your will could cause parts of the will (maybe even the whole will) to become void. This can be particularly difficult if there is a surviving spouse or surviving children.
Contact Kevin Forrester if you’re looking for a lawyer who has experience with creating California wills, trusts, and estates. Let us help reduce the frustration and stress your loved ones may feel in the future. Call (760) 932-0999 today!
