As many as 64% of all adults in the U.S. do not have a will. That number should actually be higher. It doesn’t include people with seriously out of date wills that don’t reflect births, marriages, divorces and other life changes. Sometimes people write a will, but no one knows where the will is kept. The intended purpose of Estate Law is to make things as easy as possible for those left behind.
If You Already Have a Will
Ensure that your will is current. Review it periodically for correctness. All names should be fully spelled out as they are on birth certificates. This also applies to life insurance policies and retirement accounts. It’s happened more than once that a former spouse was delighted to discover that their ex had forgotten to change the beneficiary to the current spouse.
On life insurance policies, it’s necessary to name both primary and secondary beneficiaries, such as first the spouse and then the children. If both spouses died in a car crash, for example, one spouse could have been the primary beneficiary. Assume the policy was taken out some time ago, naming the two older children as secondary beneficiaries. They would divide the proceeds. If another child had been born and not added to the policy, that child would receive nothing.
If You Don’t Have a Will
No one knows what the future will bring. Most people want to take care of their families and spend much of their life doing so. Unless they have seen it happen to someone else, few people are aware of the stress, frustration, and pain that can result from lack of a will or other estate planning.
California estate law knows nothing about your family and your wishes. The lack of a will can cause many unintended consequences. The modern family doesn’t always neatly fit into the pattern that the law assumes is a family. Blended families, stepchildren, ex’s and many other situations need to be considered and provided for appropriately. You know what’s a good idea, not some government bureaucrat.
We are experienced in Estate Law. We take our time to see that your wishes are fully documented and will be followed. Estate planning is a good way to provide for the future of those you love.
