Sacramento Lawyer For Wills
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.
Sacramento Lawyer For Wills
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.
Debunking Common Myths About Wills: A Critical Overview
A Sacramento lawyer for wills knows how challenging and intimidating estate planning can be. This is especially true considering the myriad of misconceptions and myths surrounding the process. One of the most critical documents in this process, the will, is often misunderstood. This can deter people from creating one, potentially causing distressing situations for their loved ones later on. Our team from Yee Law Group Inc. has taken the time to debunk some common myths surrounding wills to clear the air and emphasize their significance in estate planning.
MYTH: WILLS ARE ONLY FOR THE WEALTHY
One common myth is that wills are only necessary for those with substantial wealth or complex assets. However, a will is crucial for everyone, regardless of their financial situation. It designates guardians for minor children, distributes personal belongings, and expresses personal wishes on matters like funeral arrangements.
MYTH: MY SPOUSE WILL AUTOMATICALLY INHERIT EVERYTHING
Another common belief is that your spouse will automatically inherit your entire estate if you’re married. While this may be the case in some jurisdictions, it is not a universal rule. If you die intestate (without a will), state law generally decides who inherits your property, including children, parents, or siblings.
MYTH: I’M TOO YOUNG TO NEED A WILL
Our Sacramento lawyer for wills shares that age is often thought to be a deciding factor in whether a will is needed. But the reality is, it’s never too early to prepare a will. Unpredictable life events can occur at any age, making it crucial for adults to have a will in place, regardless of age or health.
MYTH: A WILL CAN HELP AVOID PROBATE
There is a belief that having a will allows your estate to avoid probate. A will does not avoid probate; it only guides the probate court to distribute your assets according to your wishes. It would be best to take additional measures to avoid probate, such as creating a trust or joint ownership.
MYTH: ONCE A WILL IS WRITTEN, IT CAN’T BE CHANGED
Many believe that once a will is written, it’s set in stone. However, a will can be revised, altered, or entirely replaced if the person creating it is alive and mentally competent. This is important because people’s circumstances and wishes can change over time.
MYTH: ONLINE WILLS ARE NOT VALID
In the digital age, online wills have become quite popular. Yet, many people believe they are not legally valid. This is incorrect. Online wills can be legally binding if they meet all the necessary legal requirements, including being signed and witnessed correctly.
MYTH: ALL MY ASSETS MUST GO THROUGH MY WILL
Contrary to common belief, not all assets are controlled by your will. Some assets, such as those held jointly with rights of survivorship or with named beneficiaries (like life insurance or retirement accounts), pass directly to the co-owner or beneficiary and are not controlled by your will.
Creating a will is a vital step in estate planning and should not be neglected or misconstrued due to myths and misconceptions. By understanding the truth behind these common myths, we can see the value in preparing a will and its role in providing certainty for our loved ones. For guidance in preparing an estate plan and learning more about its process, contact our Sacramento lawyer for wills from Yee Law Group Inc..
What is the importance of having a legally valid will, and what happens if someone dies without one?
As a Sacramento wills lawyer can tell you more about, having a will that is legally valid is critical so that you can decide how your assets will be distributed following your passing. It provides clarity and can help avoid conflicts among your loved ones. When someone dies without a will (intestate), the distribution of their assets is determined by the laws of intestacy. This means that the state will step in and distribute the assets according to a predetermined formula, which may not align with the deceased’s wishes. Without a will, the court will appoint an administrator to handle the estate, which can be a lengthy and costly process.
What are the key elements that must be included in a will for it to be considered legally valid?
A will needs to meet specific requirements in order for it to be considered valid, as a wills lawyer can explain. First, the testator (the person making the will) must be of sound mind and at least 18 years old (or meet specific legal requirements for minors). The will should be in writing and signed by the testator in the presence of witnesses who also sign the document. Generally, two witnesses are required, although the specific number may vary depending on jurisdiction. It’s important that the will clearly expresses the testator’s wishes regarding the distribution of assets and the appointment of an executor to administer the estate.
Can a will be challenged or contested, and what are the grounds for doing so?
You should always check your will and review them periodically, such as after major life events. This includes major changes in your financial situation, such as buying or selling property, acquiring substantial assets, or starting a business. Additionally, significant life events like marriage, divorce, or the birth of a child or grandchild may necessitate updating your will. Changes in tax laws or estate planning regulations may also prompt a review to ensure your will remains compliant and optimizes the distribution of your assets. Consulting with a lawyer at least every few years can help you assess the need for updates to your will and ensure it accurately reflects your current wishes and circumstances.
How often should I review and update my will, and what circumstances may require changes to be made?
It is generally advisable to review your will periodically, particularly when significant life events occur. This includes major changes in your financial situation, such as buying or selling property, acquiring substantial assets, or starting a business. Major life events may affect how you structure your will, such as marriage, adoption, or the birth of a child. Changes in tax laws or estate planning regulations may also prompt a review to ensure your will remains compliant and optimizes the distribution of your assets. Consulting with a lawyer at least every few years can help you assess the need for updates to your will.
Can I disinherit someone in my will, and are there any legal limitations or considerations?
In many jurisdictions, you have the right to disinherit someone in your will, meaning you intentionally exclude them from inheriting any part of your estate. However, it’s important to be aware that some jurisdictions provide protection for certain family members, such as spouses or minor children, who may have statutory entitlements even if they are disinherited. Laws regarding disinheritance vary, so it’s crucial to consult with a lawyer to understand the specific legal limitations and considerations in your jurisdiction. If you want to ensure that your will reflects your wishes, seek guidance and counsel from a wills lawyer such as one from Yee Law Group Inc. so that you can receive the information that you need.
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.”