A will is one of the most critical elements of an estate plan. To learn more about how to perfect yours, continue reading and reach out to our skilled Woodland Hills will attorney today.
What is involved in a California will?
A will is a legal document that authorizes a person to express how they would like their assets to be divided once they pass away. When it comes to a will, a person can pass assets to their heirs and loved ones. Some of these assets can involve bank accounts, real estate, securities, and personal belongings. Additionally, you can include gifts to your beneficiaries, whether that be a letter for the individual or you want to designate certain family photos for them. It is also to recognize the most common misconceptions of a will. For instance, some people mistakenly believe that only individuals of high net worth with many assets need to have a will, but this is not true. Everyone should be sure to organize for the future by producing a will. Anyone over the age of 18 with any assets should think about creating a will. Also, it is important to recognize that your funeral wishes should not be included in your will because the settling of the estate usually does not happen until after the funeral.
Can I modify my will after I create it?
In most instances, people believe that once they create their will, they can just put it aside and forget about it. However, you will want to realize that you should change your will as often as your life circumstances change. In other words, once you experience a major life event, you should update your will to reflect it. Some common causes for updating a will include the following:
- Having a child
- Getting married
- Getting divorced
- Losing a loved one that was included in the original will
- Gaining or losing a significant asset
Typically, a good rule of thumb is to update your will every 3-5 years.
If you would like to create a will, while you may want to go through this process on your own, you will want to recognize that this can lead to severe legal trouble in the future. To ensure you have a valid will, you will want to have a skilled estate planning attorney on your side. Do not wait to reach out to our firm today. Our Woodland Hills, California estate planning attorney is on your side no matter what.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.