Wills Lawyer Fresno

Whether you have a large, complex estate or a fairly straightforward one, creating a will is the best way to protect your assets and dictate your final wishes. In a will, you can create instructions for asset distribution, make requests for your funeral or burial plans, and assign guardians to minor children and pets. Having a will ensures that your final wishes will be respected and that your family members don’t have to guess about what you might have wanted.

At The Bains Law Office, we have helped countless clients create last will and testaments that are right for them. Whether you already have a will and you’d like to update it, or you’re starting from scratch, we can assist you. To learn more about our estate planning services and schedule a consultation, call 559-282-8924 today.

What is a Will?

A will, also called a last will and testament, is a legal document part of an estate plan. A will provides instructions for how your assets and your property will be distributed after you pass away. Most people choose to divide their assets between their spouse and children, but you can also name other beneficiaries.

In your will, you can leave instructions for your funeral or burial plans and name guardians for minor children. Guardians are responsible for caring for your children if both you and your spouse pass away. If you have any pets, you can also name guardians for them to ensure they go to a good home after you pass.

Having a valid will is an essential part of estate planning. Without a will, your family will spend lengthy periods of time in court debating about what you might have wanted. One of the main benefits of having a will is giving your family and friends peace of mind and ensuring that your final wishes are being respected.

Understanding the Differences: Will vs. Living Will vs. Living Trust

When planning for the future, it’s crucial to understand the differences between a will, a living will, and a living trust. Each serves a unique purpose in estate planning and can help protect your assets and ensure your wishes are respected.

Will

A will, or last will and testament, is a legal document that outlines how your assets and property will be distributed after your death. It allows you to name beneficiaries, designate guardians for minor children, and specify funeral arrangements. A will must go through probate, a court-supervised process, to validate and execute your instructions.

Living Will

A living will, also known as an advance health care directive, is a document that specifies your preferences for medical treatment if you become incapacitated and unable to communicate your wishes. It focuses on end-of-life care, such as life support and resuscitation, ensuring your health care preferences are respected.

Living Trust

A living trust is a legal arrangement where a trustee holds and manages your assets on behalf of your beneficiaries. It allows for the transfer of assets without going through probate, providing privacy and reducing the time and costs associated with the probate process. A living trust can also include instructions for managing your assets if you become incapacitated.

By understanding these differences, you can make informed decisions about which documents best suit your estate planning needs, ensuring your assets are protected and your wishes are honored.

Consequences of Not Having a Will

1. State Control Over Asset Distribution: Without a will, the state of California will determine how your assets are distributed, which may not align with your personal wishes or the needs of your loved ones.
2. Lengthy Probate Process: The absence of a will can lead to a prolonged probate process, causing delays in asset distribution and potentially increasing legal costs for your family.
3. Disputes Among Heirs: Family members may face disagreements and conflicts over asset distribution, leading to strained relationships and potential legal battles.
4. Unintended Beneficiaries: Your assets may be distributed to relatives you haven’t been in contact with for years, or to individuals you did not intend to benefit.
5. No Guardianship Designations: Without a will, you cannot designate guardians for your minor children, leaving the decision up to the court, which may not align with your preferences.
6. Loss of Control Over Funeral Arrangements: Your preferences for funeral and burial arrangements may not be followed, as there will be no documented instructions for your loved ones to reference.
7. Potential Loss of Assets: If no relatives can be located, your assets may ultimately become the property of the state, rather than being passed on to friends or charitable organizations of your choice.
8. Increased Stress for Loved Ones: The lack of clear instructions can create additional stress and emotional burden for your loved ones during an already difficult time.

What Elements Must a Valid Will Contain?

A will is a legal document, meaning it must have certain elements to be considered valid. All wills go through the probate process, during which they are examined by the court. If your will is deemed invalid, it could cause delays.

Elements of a valid will in California include:

• Intent: The person who creates the will, also called the testator, must intend for the document to be a last will and testament when it is created.
• Sound mind: The testator must be of sound mind and have the ability to create a will without undue influence.
• Clear language: A will must contain straightforward language that is not confusing or open to multiple interpretations.
• Proper execution: A will must be a written document that is signed by the testator and witnesses.

How Does a Will Protect Your Loved Ones?

By creating a will, you are allocating your assets and your property to your loved ones instead of letting the state decide how your estate is distributed. You can also leave assets and property to people who are not blood relatives, like close friends or domestic partners.

In a will, you can include instructions about:

• Property: Your real estate is likely the most valuable asset in your estate. You can include instructions for your home, your vehicles, and your sentimental possessions to ensure they remain in the family.
• Child guardianship: Any minor children you have will need to be taken care of after you pass. You can include instructions for whomever you decide should raise your children if you pass away. You can also make similar arrangements for your pets.
• Financial assets: All of your financial assets need to be distributed after your death. You can include instructions for your stocks, bonds, bank accounts, retirement accounts, and more. You can name specific beneficiaries to receive certain assets.
• Executor responsibilities: The executor of your estate ensures that your final wishes are followed and that your estate can be closed. You can name an executor in your will and include specific instructions on how to take care of your family members after you pass away.

As you age and you retain more assets and property, your estate plan may change, too. Our team of Fresno wills attorneys will look over your will and update it as often as needed. Generally, we recommend updating your will every five years or more often if you obtain new assets.

What Happens if You Die Without a Will?

Dying without a will is called dying intestate. If you pass away and you do not have a will in place, the state of California will decide what happens to your assets and your property. In most cases, your estate will be divided evenly between your surviving spouse and your children. If you have no surviving spouse or children, your estate will be divided between your next closest relatives.

Dying without a will can lead to your assets being distributed to relatives you haven’t had contact with in years. The state won’t attempt to follow your wishes; instead, they will divide your estate up as quickly as possible. If no relatives can be found, then the state will take possession of your assets. Creating a will is the best way to ensure your assets and your property are given to the people you love the most.

Contact a Fresno Wills Attorney Today

No matter how old you are, it is never too early to draft a will. Our Fresno wills attorney will examine your estate plan and help you create a comprehensive legal document to preserve your final wishes.

The Bains Law Office has years of experience in estate planning and will drafting. We are confident that we can help you create a will that meets your needs. For more information, call us today at 559-282-8924.