Last Will and Testaments
When planning on the future and how you want to settle your estate there are many things you must consider about your future including what you would do if you became sick or incapacitated, who you would want to represent you, how you want to be remembered, and what you’d like to do with your possessions. Consulting a professional such as LA Probate Law is the best way to get an all-encompassing understanding about what you should do in your particular situation. In this article we will provide information regarding just one aspect of the estate planning process: your last will and testament.
“On your own” Wills
There are a few wills and estate statements that are not legal documents, but in many cases will prove to be legally binding and stand up to minimal scrutiny in the probate law process. Here are some broad details outlining these un-notarized and self-prepared statements regarding a beneficiary and your valuables. The first is a holographic will. This is a will that is usually hand written and is quite simple in its construction. You simply write out an inventory of your possessions and finances and then dictate who you would like to receive what. The biggest problem and what people forget most often is eliminating or paying off any unpaid debt and bills, and estate taxes, funeral costs, and court fees relating to the probate law process. Usually these hand written documents will honor your requests the best way feasible, but even if you remember to consider the aforementioned debts, if someone contests the holographic will, it is difficult for your unsubstantiated document to stand up to the contester’s claims, as they will be armed with legal counsel and obviously you will be absent from the proceedings. It is always best to get the help of a professional estate planning agency or probate law firm like LA Probate Law. They will set you up with a legally binding last will and testament, with all considerations as previously stated, so you can rest assured that your final wishes will be fulfilled and should someone try and dispute such claims, you will have their experience and dedication in holding your desires at the forefront of the case, with the legal documentation to back it up. Another dicey, non-legal tendered will is the nuncupative will. These “wills” are actually declarations. Better understood as battlefield declarations or death bed declarations, they are usually fulfilled and do hold weight legally. Obviously you cannot bequeath an enormous estate and the receiver of such declarations cannot state that you left them millions of dollars. What they are good for and usually legally acceptable, is when someone declares they would like to bequeath a few keep sakes to a loved one, or to deliver a message to a loved one concerning a few possessions. As long as the requests are reasonable a probate judge will more often than not, honor such declarations. Again though, getting legal consultation and/or representation is the surest way to ensure your wishes are fulfilled.
Unmarried Wills for Young Adults and Elderly
When someone is young (for example nineteen to twenty six years of age) or elderly (we can approximate seventy five or older) and are single or widowed, and these individuals have small estates (a minimal amount of possessions, relatively speaking), there are simple wills designed for execution with limited legal interference. It is important to understand that, regardless of your situation, having a plan for your estate is responsible and considerate of your loved ones and visiting a trusted source, such as LA Probate Law, can quickly and efficiently render your wishes as legally documented. So two examples of wills designed for the single individual with small estates are basic wills and property trust wills. Basic wills are just as they are named. They are official and legally binding, which secures the understanding that your wishes will be carried out. You simply need to take an inventory, determine who your benefactors are and what you intend to bequeath them, and name an executor to follow through with your wishes once the probate courts give such an individual the green light. A property trust will is similar to a basic will, except it includes the fortunate complication of a property consideration. You can stipulate what you want to do with your property, in most cases leaving it to a loved one or selling it and dividing the proceeds among those closest to you. In some cases, elders may borrow against their house for medical expenses and the like, agreeing to repay any debt upon their passing. Either way, these simple wills are easy to attain with the right consultation and give individuals the peace of mind that their wishes will be granted and there will be minimal burden on loved ones.
In following articles we will address different options for couples and individuals with larger estates and/or minor children to consider. The common theme in all this information is that professional consultation is the best way to discover what estate planning options are best for you. In most cases, the proceedings preceding your probate planning is easier than individuals anticipate. Simply find a professional in your area and schedule a meeting. If you live in or near the Southern California area, LA Probate Law comes highly recommended.
Last Will and Testaments
- How Does a Testamentary Trust Work? - June 6, 2023
- How to Use Your Estate Plan to Protect Your Blended Family - June 2, 2023
- What Can I Do to Prevent Probate Disputes After I Am Gone? - June 1, 2023
