WILLS
What happens when a loved one dies without a will
If a person dies without a Will, all the assets that a person owns alone will be divided among that person’s spouse and children, or other relatives according to California probate code for intestate succession. The court will appoint a relative to collect and distribute the assets.
Who is a testator
Testator is a person who writes the Will for the disposition of his/her own property at the time of testator’s death.
What is probate
A probate is a court supervised process to distribute the assets of a deceased person.
Can a person create a Will to avoid probate
Not Necessarily. If a Will is the only document in the Estate Plan, then a court process is likely involved. Assets in the testator’s name alone generally go through the court probate process. Courts will look at the validity of the Will and appropriate processes are followed to distribute the assets. The existence of the Will helps in speeding up the process.
Is probate a lengthy process
Probate is a relatively lengthy process which may take around eight months to more than two years depending on the complexity of the situation and facts of each individual case.
Is probate process expensive
It can be expensive as the fees are generally based on the percentage of the size of the estate. As the homes in the bay area are expensive, the fees can be extremely high.
What are the ways to avoid probate in California
If the estate size is under a certain limit, the lengthy process of the probate can be reduced. For large estates, instruments like Living Trusts can be used to bypass the probate process. Assets titled as joints tenants or community property with right of survivorship also can avoid the probate process to some extent. But, living trusts are important tools if you have young and minor children for easy disposition of the property when both husband and wife die.
Who is an executor
An “executor” is the person named in a Will to collect testator’s assets, pay testators debts and taxes, and distribute testator’s assets as the court directs. Executor is also called personal representative.
Can I nominate a guardian for minor children in my Will
Yes, if a person has minor children (under the age of 18), guardians for the minor children can be nominated in the Will. It is better to talk to the people you are nominating as guardian, to make sure that they are willing to serve as guardians if such a need arises.
Can I specify who receives what on my death in my Will
Yes. In the Will you can specify your instructions on how you want to distribute your assets. Upon your death, the executor you named in the Will, will distribute the assets according to your instructions. You need to clearly specify who gets what, so that there are no ambiguities in carrying out your instructions. If the instructions are not clear and are vague, it may lead to unnecessary litigation.
Can I make changes to a Will
Yes, a testator can make changes to his or her Will by amending the Will. The amendment is generally called a Codicil.
Can I revoke a Will
Yes, you can revoke your Will at any point in time during your life. You can also create a new Will.
Contact Wills Lawyer Kamala Today
A Will needs to meet certain requirement to be Valid in California. Let Kamala Law Corporation San Jose Wills Lawyer Kamala help you prepare your Will and advise you on ways to mitigate the potential future risks and complications including litigation. Attorney Kamala will guide you through the estate planning strategies that can help save your heirs money and taxes; draft the document according to your wishes so that your estate will be distributed to your intended beneficiaries according to your wishes.
If you want to know more about Wills and how they can benefit you, speak with San Jose Wills Lawyer Kamala.
Call us today at 408-752-5436 or send a message via our website.
If a person dies without a Will, all the assets that a person owns alone will be divided among that person’s spouse and children, or other relatives according to California probate code for intestate succession. The court will appoint a relative to collect and distribute the assets.
Who is a testator
Testator is a person who writes the Will for the disposition of his/her own property at the time of testator’s death.
What is probate
A probate is a court supervised process to distribute the assets of a deceased person.
Can a person create a Will to avoid probate
Not Necessarily. If a Will is the only document in the Estate Plan, then a court process is likely involved. Assets in the testator’s name alone generally go through the court probate process. Courts will look at the validity of the Will and appropriate processes are followed to distribute the assets. The existence of the Will helps in speeding up the process.
Is probate a lengthy process
Probate is a relatively lengthy process which may take around eight months to more than two years depending on the complexity of the situation and facts of each individual case.
Is probate process expensive
It can be expensive as the fees are generally based on the percentage of the size of the estate. As the homes in the bay area are expensive, the fees can be extremely high.
What are the ways to avoid probate in California
If the estate size is under a certain limit, the lengthy process of the probate can be reduced. For large estates, instruments like Living Trusts can be used to bypass the probate process. Assets titled as joints tenants or community property with right of survivorship also can avoid the probate process to some extent. But, living trusts are important tools if you have young and minor children for easy disposition of the property when both husband and wife die.
Who is an executor
An “executor” is the person named in a Will to collect testator’s assets, pay testators debts and taxes, and distribute testator’s assets as the court directs. Executor is also called personal representative.
Can I nominate a guardian for minor children in my Will
Yes, if a person has minor children (under the age of 18), guardians for the minor children can be nominated in the Will. It is better to talk to the people you are nominating as guardian, to make sure that they are willing to serve as guardians if such a need arises.
Can I specify who receives what on my death in my Will
Yes. In the Will you can specify your instructions on how you want to distribute your assets. Upon your death, the executor you named in the Will, will distribute the assets according to your instructions. You need to clearly specify who gets what, so that there are no ambiguities in carrying out your instructions. If the instructions are not clear and are vague, it may lead to unnecessary litigation.
Can I make changes to a Will
Yes, a testator can make changes to his or her Will by amending the Will. The amendment is generally called a Codicil.
Can I revoke a Will
Yes, you can revoke your Will at any point in time during your life. You can also create a new Will.
Contact Wills Lawyer Kamala Today
A Will needs to meet certain requirement to be Valid in California. Let Kamala Law Corporation San Jose Wills Lawyer Kamala help you prepare your Will and advise you on ways to mitigate the potential future risks and complications including litigation. Attorney Kamala will guide you through the estate planning strategies that can help save your heirs money and taxes; draft the document according to your wishes so that your estate will be distributed to your intended beneficiaries according to your wishes.
If you want to know more about Wills and how they can benefit you, speak with San Jose Wills Lawyer Kamala.
Call us today at 408-752-5436 or send a message via our website.
San Jose Wills Layer Kamala helps families throughout Bay Area counties like Santa Clara, Alameda, Contra Costa: San Jose, Sunnyvale, Cupertino, Santa Clara, Milpitas, Fremont, Newark, Dublin, Pleasanton, San Ramon, Livermore, Mountain View.