4 Things to Consider When Creating a Will
Regardless of your age, it is important to begin estate planning to ensure that your wishes concerning your property will be honored should you be incapacitated or pass away suddenly. A critical component of any estate plan is a will, and without one, your assets will fall into the complex process of probate following your death. If you are ready to create your will, it is vital to work with a seasoned San Jose estate planning attorney who can ensure your will is in full legal compliance with California state law.
As you begin your will creation, there are several factors you will need to consider including:
Who will act as your executor?
The executor is your personal representative who will be in charge of handling your estate. Your executor should be someone you trust without reservation, someone who is organized, responsible, and willing to take on this role.
Who are your beneficiaries and how will you divide your property among them?
Your beneficiaries are the people that you will designate in your will to receive your property. These people can include spouses, children, parents, close friends, and people or charities in your local community. You will need to take inventory of all your assets including items like houses, cars, bank accounts, family heirlooms, etc. and determine who will receive what after your passing.
Who will become the guardian for your minor children?
Whether you want to prepare for you and your spouse’s passing, or you are a single parent, you will need to choose a legal guardian for your minor children. You will want to select someone who is ready and willing to take on this role should anything sudden happen to you.
Who will care for your pets?
Dogs, cats, and other animals become members of the family, but legally, they are viewed as personal property and will be dealt with as such, unless you specify in your will who should take responsibility for them.
Would you like to work with an experienced estate planning attorney to create your will? Contact us at Scire Law to schedule your free consultation today!