Taking the time to consider what to include in your will is a good idea at any age. By establishing where you want your assets to go and how your estate should be managed, you can help ensure that your final wishes will be honored. Here are some provisions to consider when you think of what to include in your will:
When you create your will, you can designate someone to be your personal representative. This individual will be responsible for filing your will with the probate court in a timely manner, locating your assets and identifying your debts, reporting to the court, and making sure your heirs are paid their inheritances. The individual you select will have several important responsibilities. Therefore, you should carefully consider who you trust to serve in this role and be certain this individual is named in your will.
For parents of minor children, it is crucial that you provide your preferences for a legal guardian in your will. The named guardian is the person you would want to be legally responsible for your child if something were to happen to you. In California, the guardian of the person is responsible for the child’s physical care, and the guardian of the estate attends to his or her financial interests. In many cases, the person you select will be nominated for both roles. If you don’t name anyone, the court will have to find a suitable person to make decisions for your child. This can be an extensive process, and it would be far better for your children to have the stability of your chosen caregiver.
When devising your will, it is vital that you accurately describe your property and provide clear instructions on its distribution. When assets are vaguely referenced or not plainly directed, family members can end up in court fighting over the details. By using accurate and unambiguous language you can help make sure your property passes according to your direction.
In order to start preparing your California will, you need to consult with an experienced estate planning attorney. Your counsel can help you evaluate your estate and consider how to safeguard your assets and provide for your loved ones.
At the Law Offices of Alice A. Salvo, we have estate planning attorneys with the experience you require to make sure your will is properly prepared and includes the right provisions. Contact us today to schedule your consultation.