Most Americans do not have a simple will as part of their estate plan. You might believe that a will is only for the rich and famous, and not the average person who has a far smaller net worth (NOT TRUE). On the other hand, you may think that a will is entirely unnecessary since you have a trust, jointly owned property, or have named beneficiaries on your insurance.
So, do you really need a will? The short answer to this question is “yes.” In fact, everyone who owns anything – no matter how little value it may seem to have – should have a will. This is because a will puts you in charge of directing others on your wishes and distribution of assets upon your death.
Without a will or other estate plan – referred to as intestacy – you have no control and your state’s rules determine who gets what after your death. Even if you have a trust, jointly owned property, or have named beneficiaries on your insurance, a will is an important, even as just a “backup” plan.
Book an estate planning session with an experienced Westlake Village will lawyer today.
A will is a written document that is signed and witnessed. It is considered a “death” document as it only goes into effect when you die.
A proper will should include many things, and an estate planning lawyer can help you make these important decisions.
Here is what we can do for you.
Even if you don’t consider yourself wealthy, a will is integral to ensuring your assets are distributed how you want them to be, no matter how much you have saved. A will can help you name heirs for assets like your house, car, jewelry, or even small, sentimental items like photo albums. State laws dictate who gets what from your estate without a will, and there’s no way to know if that will align with your wishes.
This is perhaps the most important if you are a parent of minor children. A will states who would get custody of your children if something happens to both parents or guardians. While this scenario may feel unlikely, a will helps you prepare for the unexpected and can give you peace of mind that your children will be cared for in your absence.
While all parents hate to think about what their children would do without them, that thought is scarier if you aren’t sure who they would end up with in the event of your death. Let us help take that fear away.
You can name an executor of your estate. In this role, the person you choose would be responsible for wrapping up your financial affairs, like closing your credit cards and letting creditors know you’re deceased. They would also ensure your assets are distributed as you have laid them out in your will. It doesn’t matter if this person is a friend or family member, but it does matter that it is someone you trust.
If you do not leave a will behind stating your wishes, your estate will be divided among your surviving relatives or heirs. We all know family issues can be complicated, so if there’s anyone you would like to leave out of your estate, a will allows you to “disinherit” them or prevent them from receiving any of your assets after your death.
You must specify that in the will to prevent certain people from getting your assets.
A valid will can help your family and friends avoid legal issues and disputes once you are gone. Probate court is the process wills go through to ensure they are valid and has a proper representative to administer the estate.
By spelling out your wishes clearly in your will, your loved ones can ensure your estate is handled the way you want after your death.
But a will alone will not avoid probate court.
Our probate attorneys can walk you through what it takes to keep your assets out of probate and more money in your estate.
No two families are the same, so no two estate plans will be.
To discuss your custom California estate plan strategy, contact us. Let’s chat. We assure you that you will be able to communicate openly with us in a no-cost consultation, whether in English, Spanish, or Korean.
Click below to schedule an appointment, or complete the form here. A member of our estate planning team will contact you!
Crista and her team are amazing. Rick and I had our Family Trust done. We had been talking about doing it for a couple years and it seemed daunting. Crista really helped by taking the time to explain everything instead of just saying…do this. We really appreciated her process. One big thing for us was how the appointments were laid out, so as not to waste time, yet spend the time needed to answer questions and get things done. Thank you to Crista and her team for making the process easy and for making us feel special for finally getting it completed!
We worked with Jun Shim. He’s fantastic. Helped us step by step figure out everything we need to feel good about how we leave things for those we care about. Love how Hermance Law offers great digital options too. Highly recommend!!
THE BEST! Crista Hermance and the Hermance Law team are simply great at what they do. As a fellow estate planning attorney, I have very high standards for others in my field- Crista and Hermance Law is one of the few firms I refer my clients and their families to without hesitation-if you need a knowledgeable, professional, caring advisor to guide you through the estate planning process, look no further – HIGHLY RECOMMEND!
Such a great firm! My husband and I got our family trust done and are so happy with the service and professionalism we received. They offer so many options for all your needs and budget. We feel very secure and protected now that we have this completed. Not only the attention to detail throughout the process make them great, but the follow up and constant contact make them amazing. While they specialize in families with small children, Hermance Law can assist with all your trust needs. I have already referred them to multiple families of all ages with rave reviews. Worth a consultation, worth following them on social media and the piece of mind you get is priceless!!
Attorney Jennifer Romero from Hermance Law walked us throughout the entire estate planning process answering our questions and providing guidance on the options we have available. Her support made it easier to understand California’s law regarding estate planning and minor children. I highly recommend this service to anyone who needs support with documentation of your wishes. Thank you Jennifer!
We are probate lawyers, but we are also parents. We have great resources on estate planning for parents, focusing on what parents can do to protect their children in emergencies.
We are active in the community! We offer online webinars, special get togethers and more.
Get to know the basics and watch our quick videos with tips, questions and answers.
Providing you with extra information on how to stay relevant with your Estate.
We understand that this can be overwhelming. Family estate planning forces uncomfortable conversations about preparing for unfavorable eventualities. Rest assured that we are as empathetic as we are knowledgeable.
Find us in Ventura, Westlake Village, Valencia, Pasadena, Calabasas, Santa Clarita, and Irvine, or connect with us virtually.
You could make many minor estate planning mistakes in a will that could threaten your estate.
Those could include:
To avoid potential issues down the road, you book a consultation with our law office today.
Wills are revocable, meaning you can update the contents at any time. Our estate planning attorneys can help you keep your will up to date by using a codicil (a written amendment) or by revoking and creating a new will altogether.
If you pass away without a will, the courts will decide what to do with your assets. This is not always the best option since you get no say in what happens to your belongings. For example, something special that you wanted to give to a particular person could be given to someone else.
It’s best practice to create a will with an estate planning attorney so that your assets go to the correct people once you’re gone.
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