,
 |
Member of California State Bar, Trusts and Estates Section, and Family Law Section
Contact me
Wills Used in California Estate Planning
A will is a traditional legal document which:
- Names individuals (or charitable organizations) who will receive your assets after your death, either by outright gift or in a trust.
- Nominates an executor who will be appointed and supervised by the probate court to manage your estate; pay your debts, expenses and taxes; and distribute your estate according to the instructions in your will.
- Nominates guardians for your minor children.
Most assets in your name alone at your death will be subject to your will. Some exceptions include securities accounts and bank accounts that have designated beneficiaries, life insurance policies, IRAs and other tax deferred retirement plans, and some annuities. Such assets would pass directly to the beneficiaries and would not be included in your will.
In addition, certain co owned assets would pass directly to the surviving co owner regardless of any instructions in your will. And assets that have been transferred to a revocable living trust would be distributed through the trust, not your will.
For some individuals, a California Statutory Will (a fill in the blanks form) may be sufficient. This form can be printed out from the State Bar Web site at www.calbar.ca.gov (go to Public Services and Making a Simple Will). Keep in mind, however, that you must execute your will in the manner required by California law. Failure to do so could invalidate the entire will. You should discuss such requirements with a qualified lawyer.
Be sure to discuss your choice of an executor with your estate planning lawyer. There are many issues to consider. For example, will the appointment of one of your adult children hurt his or her relationship with any other siblings? What conflicts of interest would be created if you name a business associate or partner as your executor or trustee? And will the person named as executor or successor trustee have the time, organizational ability and experience to do the job effectively?
In considering a guardian, you should nominate a guardian to supervise and care for your child (and to manage the child's assets) until he or she is 18 years old. Under California law, a minor child (a child under age 18) would not be legally qualified to care for himself or herself if both parents were to die. Nor is a minor legally qualified to manage his or her own property. Your nomination of a guardian could avoid a "tug of war" between well meaning family members.
There are several kinds of wills, and Mr. Cooper will help you choose the right kind for you and your family:
- Simple Wills
- Statutory Wills
- Pour-Over Wills
- Living Wills (Advance Health Care Directive)
- Testamentary Trust Wills
- Holographic Wills
In conjunction with other documents, the will makes your wishes known, protects your estate from over-taxation and government interference, and provides for your needs and the needs of your family. Since there may be changes in your life, these documents are flexible enough to accommodate new circumstances, such as having children, divorcing, remarrying, retiring, and so on. After your estate plan is complete, Mr. Cooper will work with you as time passes. He understands the value of establishing trustworthy, long-term relationships with his clients.
For more information, or to schedule an appointment, call the Law Office of Michael W. Cooper at 530-877-1383, or complete a contact form on this website, or send an email to m-w-cooper@msn.com, and Mr. Cooper or his staff will contact you.