LA Probate Law – Importance of A Will and Who Can Benefit from Probate
LA Probate Law governs the property distribution process which is followed after the death of an individual. The probate law provides a guarantee that all the possessions and properties left behind by the deceased is equally distributed among the successors and in case of any creditor payment is pending they shall be paid without any delay. The probate is responsible to interpret the final will of the deceased where he names the executor of the estate and besides this they also check the interest of the heir of the property and also check whether there are any other additional claimants to the property. This is the best law which makes sure that all your loved ones shall live in peace after you are no more.
There are cases where the property is not automatically transferred to the spouse or the children then the court relies on the LA Probate Law. It is very important to have a proper valid and correct will so as to ensure that the property is correctly distributed among the spouse and children the way the deceased would have wanted. There are some simple general requirements which are to be followed to make a correct will. The LA Probate Law helps in making the correct will. Let us understand the steps for a successful and error free will.
- You should identify yourself as the author of the will.
- When you make a new will make sure that you revoke all the previous wills and testaments. In case you forget to include this point then this may cause problems at a later stage since it shall only revoke the previous will if any inconsistency is found in them.
- You should clearly specify that you are a legal authority to dictate the division of the property and that it is your choice how to divide the property among the spouse and children and that you are doing it without any threat or compulsion.
- You should very clearly name the heir or multiple heir of your property in the will.
- The will should be signed and the date of the will should be mentioned clearly. It should be signed by two witnesses who do not stand to gain anything from this will.
In the present economy when the entire world is facing tough times there are very few people who believe in making the will in the right time; rather most of them neglect to make their for their assets and property in the event of their death. This is definitely and unpleasant part of life but it is important to have proper estate planning so that your loved ones will live happily ever after. The LA probate law is also a great boon for the elderly. In today’s world, people rarely consider or regard other people and are in the rat race to dupe other off their money and assets. The elderly in particular fall prey to such unlawful snatching of property especially at a time when they need utmost care. The LA probate law has dealt adeptly with several cases related to elder abuse. A few of the many cases that one gets to see are forging and misusing property and possession of an elderly person against his wish. Some also encase the checks of elderly without their consent. Few cases of fraudulent signing of documents and contracts are also reported. For example power of attorney may be signed fraudulently and property used for other purposes. The probate law helps prevent many such occurrences by putting in place many new laws and orders. Just a victim has to contact the legal authorities to seek help and litigation.
It is hence advised that any major married or single, drafts a will once he turns 18. According to the LA Probate Law it is advisable to hire a legal attorney to draft a will so that they make sure that the will is legally valid. Today even youngsters and people in their middle age draft wills. In case of unforeseen death the family is taken care of, and assets are lawfully passed on to them. By law, one can designate guardians in order to take care of children and also the property, in cases of death of both parents. In order to have a smooth transition of taking over of the assets by the guardian it is advisable a trust is formed and the entire assets are managed by the trustees till the children are major. The LA probate law helps to draft and execute such laws to protect minors and not allow for unlawful inheritance by other relatives.
Many couples, who are childless, also are advised to draft a will to ensure the safety of their spouses. When a will is not drafted and there is an uneventful death– the parents, siblings and other family members can also claim a certain portion of the property. Hence a will becomes mandatory in cases where families are larger as family members may contest the division of the property. As per the LA Probate Law this situation can be prevented if a proper will is registered as per the law. Then no relative can challenge it in the court. In general the courts honor the wishes and the directives provided in the will. The LA probate law not just protects the elderly and help them live in dignity and peace, but also paves way for many others to draft wills and stay rest assured that their property will go down to their family after they breathe their last.