Planning for death can be a very overwhelming thing to think about. However, doing so can greatly benefit an individual in the long run. This can be done through a comprehensive estate plan. In doing so, an individual can plan for what happens to their cherished assets when their life is over. This can help to protect these things and ensure they are passed down to loved ones of their choosing.
When creating an estate plan, people often write a will. A will is a document that acknowledges the individual’s wishes for their estate when their life is over. It details how they wish the assets to be taken care of and distributed after they pass away. Enlisting a skilled attorney while creating an estate plan can be beneficial, as they can guide the individual through the process.
Why is a Will Important?
When people live a long and full life, they often have many special belongings. These are things that should continue to be taken care of, even after their life is over. This can be done by passing them down to loved ones through the creation of a will. In writing a will, an individual can choose where they wish their assets to end up. By designating where these belongings should go, it ensures there are no difficulties and they do not fall into the wrong hands. Another benefit of this is that there is no worry about where the assets would end up in the event that a will was not created.
A large motivating factor in creating a will is to avoid dying intestate. When an individual has a will, they are known as “testate.” Without a will, it is known as dying “intestate.” When a person dies intestate, there is no explicit intent of where their assets should go. Because of this, loved ones do not have control of the deceased’s estate. Instead, the estate can be controlled by the state of California. This allows the state the right to decide where the individual’s assets go. This is typically decided by a succession schedule depending on the surviving family members of the deceased. The intestate succession schedule distributes these assets to children, parents, grandchildren, and siblings. Each distribution is dependent upon the situation of the family in question.
Contact our Firm
If you or a family member is looking to create a will for your estate and wish to speak with an experienced attorney, contact the Law Offices of Yacoba Ann Feldman today.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most.Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.