Creating A Will In Los Angeles
A will is a written document that explains how property should be distributed upon your death. You can change, update or rewrite your will at any time.
A will is a valid stand-alone document. Once your will is created, it can also be used in conjunction with a revocable living trust to provide a plan of how you wish particular assets to be distributed. When only creating a will, and no other estate planning documents, you need to be aware of these issues:
- Wills must go through the probate process.
- The court reviews your financial situation at the date of death. When outstanding debt exists, the job of the court is to try to repay the debt from your assets and then distribute the remaining balance of your assets to your beneficiaries.
- The probate record is a public record. Anyone wanting to see the details of your estate and how it was distributed can find the details in the public record.
- One benefit of creating a will is the minimal cost of writing a will; they are simple and affordable to prepare. It is easy and economical to modify a will at any time. A will needs no management after it is signed.
What Can I Expect To Pay?
Writing a will in Los Angeles County is a relatively inexpensive and simple step that anyone can take toward estate planning. Attorney Alice A. Salvo has superior credentials combined with the experience needed to determine when a legal will in Los Angeles is necessary to ensure your heirs remain protected after your death. The cost of writing a will may be combined with obtaining powers of attorney for health and finances as a simple but effective estate plan.
The cost to create a will typically ranges from nothing to $1,000. However, keep in mind you get what you pay for. A free or do-it-yourself will may not hold up in court; we’ve seen this many times. You should consult with an attorney, and plan to invest around $1,000 in order to ensure that you and your loved ones (heirs) get the proper benefits and distributions. This is an estimate of the cost of writing a will prepared by a professional experienced estate planning attorney that also includes comprehensive powers of attorney documents covering health and financial matters.
Considerations When Writing A Will In Los Angeles
Many factors must be considered when deciding between writing a will or creating a revocable living trust. While it is essential to seek advice from a skilled Los Angeles estate planning lawyer, the following are some typical considerations when creating a will:
- Cost — Legal wills in Los Angeles are inexpensive to create and file.
- Ease — Many estates are well protected when a simple will is utilized. For a more complex estate, in which you have a house or condominium, outstanding debt, possibly extensive real estate with multiple properties, or a business, relying on a will as your only estate planning tool will not suffice. In this case, a Los Angeles estate planning lawyer is likely to recommend additional protection for your estate.
- Maintenance — Although a will can be revised at any time, it requires no maintenance to remain in effect.
Please note that a will can later be part of an estate plan with a revocable living trust if your situation changes with time. Therefore, writing a will can be an important first step in estate planning.
Considering Writing A Will? We Can Help.
At the Law Offices of Alice A. Salvo, our Los Angeles attorney has more than two decades of experience creating wills. In addition, our firms’ expertise lies in all areas of trust, estate and probate matters. We urge you to call or contact us today and learn how we can successfully assist with your legal matter.