Several Good Reasons Why You Should Update Your Will
Although a reputable Sacramento living trust lawyer can make the creation of a will a fairly simple process, many people still procrastinate completing this important task. Creating a will can ensure that your final wishes are carried out by your loved ones. Even those who already have a will should update it after they experience a significant life change. It will be important that once you complete your will, you modify it as needed. With a living trust lawyer in Sacramento from Yee Law Group by your side, we can you write and update your will as necessary. You will be in the best of hands with our legal team. We have years of experience representing our fellow community members in the Sacramento area.
Why Should I Have a Will?
Unfortunately, many people pass away without a legal will in place. Making sure that you have a current will is vital to making sure that your assets are distributed how and to whom you wanted. A Sacramento living trust lawyer from Yee Law Group can make the process as easy as possible for you by making sure all the necessary steps are followed.
Updating Your Will
It is important to update your will with the help of a Sacramento living trust lawyer
for a number of reasons. You will want to make sure that you do this as soon as possible, especially in the event that you unexpectedly fall victim to a tragic accident. There are various reasons to update your will that include:
- You will want to update your will if you are in poor health. If you have recently been diagnosed with a serious illness, now is a good time to go over you will and ensure that everything is in place.
- If you have experienced a change in your relationship status, you will want to update your will. If you have divorced or separated from your partner, you will want to make sure that they do not stand to inherit any of your assets.
- If your spouse has passed away, you may have named them as the beneficiary to your assets. It will be important that your will assign a new beneficiary or beneficiaries. Failure to do so could put you at risk of passing away with the court having to make these decisions without knowing the people involved.
- If you have children, you will need to make sure you appoint a guardian to assume care of them if something were to happen to you.
- Changes in your financial situation should be updated in your will. This should include any inheritances or investments.
A Sacramento Living Trust Lawyer You Can Count On
In the event that something unexpected happens such as a fatal accident, you don’t want your estate to fall into the hands of someone with whom you are no longer in a relationship. A Sacramento living trust lawyer from our firm can provide you with the legal guidance you need. Call us today to speak with a living trust lawyer Sacramento locals recommend from the Yee Law Group at 916-927-9001.
Things You Can’t Do in Your Will
You may think that you can do anything you want in your will, but that’s not true, and it may just be one reason you want to hire a Sacramento lawyer for wills. Your will can be as simple or as complicated as you need it to be, but it is important to know what you can and can’t do in your will. A lawyer for wills in Sacramento at the Yee Law Group, P.C. may be able to help you determine the things to include in your will when you call 916-927-9001.
Certain Property Can’t Be Left in a Will
Your Sacramento lawyer for wills may encourage you to make a list of all of your property and assets to specify what should be done with them when you pass away. This is important to do, but it’s also important for you know that your will can’t deal with all of your property.
Generally, your will can’t leave:
- Property you and another person own together
- Property that’s in a living trust
- Life insurance proceeds that already has a specified beneficiary
- Money in a pension or retirement plan or account that has a specified beneficiary
- Property that has a transfer-on-death form
- Money in a payable-on-death bank account
Establish Certain Conditions
You can’t leave property or money to someone in your will that’s contingent on certain conditions. A Sacramento lawyer for wills may advise you further on this situation, but in most cases, you can’t specify that someone must change religion, marry, or divorce in order to receive what you want to leave them.
You may, however, specify that a certain amount of money can go to a family member if and when they graduate high school or college. Keep in mind that specifying conditions means that someone else has to enforce your wishes.
Include Your Pets
You may want to include your pets in the will, but unless you are specifying who should take care of them, you may be disappointed. Pets can’t legally own property, which means that you can’t leave property to them in your will. To get around this, you should leave your pet to someone you trust will take good care of them and leave that person money to take care of any pet-related needs.
Depending on the state you live, you may be able to set up a trust for your pet, and if you’re interested in this option, you may want to consult a Sacramento CA lawyer for wills.
If your estate needs to go through probate, it may, even if you try to specify otherwise in the will. You may want to be aware of how probate works and let your loved ones know that there is nothing you (or they) can do about it when the time comes.
Now that you know what you can’t do in your will, why not focus on the things that you can do to make things easier for your family after you pass away? Call a Sacramento lawyer for wills at the Yee Law Group at 916-927-9001 today.
Sit Down with Attorney Mike Yee to Discuss the Reasons Why Most People Delay Estate Planning
“I was recently working on a tough real estate deal with the Yee law group. They went above and beyond for the clients and took an impossible issue and fixed it. If there is one thing that I recommend, that is to get an estate plan so you won’t be faced with this type of issue and the Yee law group is the place to turn to. If they could fix this, they know how to plan for it in your estate plan. These guys are rock stars in my book.”