Wills Articles

This is a legal document that takes effect upon death and is used as an instrument to direct the disposition of your property upon death. A Will also serves the critical function of naming guardians for your minor children. In California, wills trigger probate unless the gross value of your "estate" is less than $184,500.00. When used in conjunction with a living trust, a will (then known as a "pour over will") serves to leave assets not otherwise titled in your trust to your trust to determine the disposition of your property upon death.

A Will remains legally valid unless revoked by its creator.

Your Will should be amended when your situation changes - a birth or death in the family, a need to change your executors, or to change the guardians for minor children are common examples of circumstances triggering the need to amend Wills.

A California Probate Court may decide guardianship of your new child. If you get married, the California Probate Code would likely modify your plan of distribution to account for the community property rights of your spouse. It is critical that your Will is updated to reflect the changes in your life. Otherwise, your wishes may not be followed.

There is no key required to gain access to the courthouse. In today's litigious society, there is absolutely no guarantee that your Will or any other estate planning document that you prepare will not be challenged. Your estate is liable for the legal expenses necessary to defend your Will. If you think it is a possibility that your Will may be contested, please let your attorney know. There are several defense mechanisms that can be added to your Will and other estate planning documents to eliminate or minimize this risk.

The Probate Court will decide who will administer your estate and who will become guardian of your minor children. The California Probate Code dictates who gets your money and your belongings. An inappropriate person may be appointed by the court to administer your estate. An inappropriate guardian may be appointed by the court. Children will receive their share when they become "adults", at the age of 18! The beneficiaries may not be those you would have selected if you had been prepared and had completed your own estate plan.

Handwritten Wills are easily challenged because of unclear (non-legal) language and often lack witnesses to prove the person writing the Will was legally competent. Lawsuits challenging this type of Will are expensive and usually result in a compromise, with beneficiaries you wanted to disinherit receiving part of your estate.

If a couple is married or part of a domestic partnership, holding assets in joint tenancy is acceptable, but far from ideal. Married couples living in a community property state (such as California) can obtain a "double step-up in basis" (HUGE Tax Benefit), but most people fail to take advantage of this tremendous tax benefit by keeping assets in joint tenancy. However, adding anyone else (besides your spouse or domestic partner) as a joint tenant can create other problems, such as: The new joint owner could misappropriate the asset. After all, you gave it to them. Did you file a ... Read More

A Will does not avoid probate if the gross value of the assets in your estate exceeds $184,500.00 at your death. If your estate is less than $184,500.00, a living trust may not be required for you and your family. You should consider our "Will Package" as a planning option.