In California, a will is one of the most important and basic estate planning tools that can articulate your wishes after you pass away. A will is even more important if you own property in California or elsewhere, as you’ll need to take planning steps to ensure that the beneficiary you select is eligible to receive the home with minimal tax consequences.
If you don’t have a will, your estate has to go through the California court’s probate system, where your assets are analyzed and then distributed. This is something that most individuals want to avoid and can easily do so by putting together a will well in advance
It can take up to one year for a probate court case to make its way all through the legal system. It can also always be extremely expensive since your loved ones will probably need the services of an estate attorney.
Probate can also reveal aspects of your individual estate as a matter of public record. This is why many individuals prefer to have a will and take advantage other estate planning opportunities to increase their protections.
Do you want to include property in your California estate plan? Consult with a Pasadena lawyer today to learn more.
