Estate Plan with Will for Individual

What is a will?

A legal document created by you, the “Testator,” that sets forth your wishes regarding distribution of your assets and guardianship of any minor children. A will takes effect at the death of the Testator and may be revoked or amended at any time before the Testator’s death. The Testator selects an “Executor” to administer the estate after the Testator’s death. A will requires the Testator’s assets be administered by the county Probate Court, and after publishing in the paper, notifying creditors and paying court and attorney fees, the estate is distributed among the Beneficiaries of the will. Wills are made public. If a person creates a living trust, they typically also create a “pour over will” which “pours over” assets to the individuals living trust at his or her death.

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Who needs a will?

Anyone who wishes to control distribution of his or her property after death and anyone who wishes to nominate guardians for minor children needs a will. Without a will, the probate court will almost always distribute property according to the California Probate Code. Without a will, the probate court will nominate guardians who will have legal custody of minor children.

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