A will is the basic cornerstone of most people’s California estate plan. It states who you want to be named as your personal representative to handle the administration of your estate. It lists a guardian you’ve chosen for any minor and provides explanations and intentions for the transfer of your assets to your chosen beneficiaries when you pass away.
If you have a minor child, for example, there’s a good chance you want a say on who gets appointed as the guardian of that child. You can use a simple will to do this. Even if you have a small estate, don’t underestimate that your loved ones may want clarity on your estate plans or have specific items they want. You can use a simple will to name these plans, too.
Many people, however, overlook the importance of creating a will, and a new Caring.com Wills and Estate Planning Study finds that 40% of people say they don’t believe they own enough assets to create a will.
Even if you have a relatively small estate, it is beneficial to sit down with a Pasadena estate planning attorney to discuss the benefits of creating a will. You can make things much easier for your chosen loved ones by developing a will now and ensuring that you have properly considered everything inside your estate.
Many people overlook important assets that can slow down state managed probate if you do not have a will. Furthermore, the state has specific rules in place regarding which beneficiaries receive your assets if you have not created a will, and this may not be in line with your personal wishes. Set up a time to talk to our Pasadena estate planning lawyers to determine how simplified estate planning and even a basic will can help streamline your estate planning process and ensure that your wishes are respected.
