Wills Lawyer Los Altos CA
Developing a will is one of the single most important assets you can create to benefit your heirs including your spouse and children. Simply put, your will helps establish who will receive your assets including money, real estate, stocks and bonds, and any other valuable property upon your death. A will is also how you are able to ensure your children are protected and how you can appoint a guardian to take care of them in the event you pass while they are still minors.
There are two issues related to wills that all California residents should understand:
- There are significant legal rules surrounding the creation of a will. If you previously created a will, even if you had the help of an attorney, it is wise to have it reviewed by a second legal professional.
- Wills should be updated regularly. This helps ensure those you identified as beneficiaries are not left out of your estate. During our lives we go through dramatic life changes, from having kids and then grandkids, changing jobs, buying real estate, starting companies, and each of these events impacts your Will. Make sure it’s up to date!
Finally, while a will alone may be sufficient for many Californians to resolve their estate concerns, it’s not ideal for everyone. For those clients we recommend a combination of both a will and a trust or several trusts. This can provide benefits far beyond what a simple WIll can provide, and after a consultation, many of our clients agree they would like to take advantage of a what a will and trust combination estate strategy offers.