A will is one of the most important estate planning documents you can create. As a result, it is important to know more about wills. Read on to learn more about creating a will in California.
What can I Include in a Will?
A will is a legal document that allows a person to declare how their assets should be divided in the event of their passing. With a will, a person can pass assets to their heirs and loved ones. Some of these assets include bank accounts, real estate, securities, and personal belongings. You are also able to include gifts to your beneficiaries, whether it is a letter for the individual or you want to designate certain family photos for them. When it comes to a will, there are some common misconceptions. For example, some people incorrectly believe that only individuals of high net worth with many assets need to have a will, but this is simply not the case. Everyone should be sure to prepare for the future by creating a will. Anyone over the age of 18 with any assets should consider creating a will. Additionally, you should not include funeral wishes in your will because the settling of the estate usually does not happen until after the funeral.
Modifying a Will
Some people assume that once they create their will, they can put it aside and forget about it. This is not the case. As your life changes, your will should change. When you experience a major life event, you should update your will to reflect it. Some common reasons to update a will include:
- Getting married
- Having a child
- Getting divorced
- Losing a loved one that was included in the original will
- Gaining or losing a significant asset
Generally, a good rule of thumb is to update your will every 3-5 years.
If you are interested in creating a will, you may be tempted to take on the process on your own. This can lead to serious legal trouble down the line. In order to create a valid will, it is important to work with an experienced estate planning attorney. Reach out to our firm today. We are here to walk you through the process every step of the way.
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.