According to a study from Merrill Lynch and Age Wave, only about 55% of American adults aged 55 years or older have a will. Settling a decedent's final affairs and distributing their assets to inheritors involve several details. Without a valid will, the estate administration process could bring about a wide range of complexities. Notwithstanding how large or small your estate may be, having a properly drafted will is vital to protect your assets, life investment, family members, and help you prepare for an uncertain future.
If you need proper guidance in drafting your will, it is important that you speak with knowledgeable California estate planning attorneys. The Elder & Disability Law Firm, APC, is dedicated to offering experienced legal guidance and advocacy in estate planning-related matters, including wills, trusts, asset protection, and Medi-Cal planning. Our lead attorneys — Esther C. Wang and Jason Oei — are available to discuss your personal situation and help you understand your estate planning options. They can guide you through every phase involved in drafting your will and help you make informed decisions along the way.
The Elder & Disability Law Firm, APC proudly serves clients throughout Southern California, including Redlands, Riverside, Rancho Cucamonga, and Palm Springs.
Overview of Wills
A will (sometimes referred to as a last will and testament) is a legal document that provides detailed instructions for how a person (the “testator”) wants their estate to be administered and their assets distributed to beneficiaries or disposed of upon their demise. You can achieve the following with your will:
- Determine what happens to your assets and property upon your death
- Leave your assets for your spouse, children, close relatives, and others
- Name a trusted person (guardian) to manage the inheritance left for minors and care for them
- Provide detailed instructions regarding how you want your estate to be administered
- Appoint a personal representative to administer your estate according to the provisions of your will
- Gift personal belongings for your family members
- Give gifts to schools, non-profits, and other charitable organizations
- Choose someone to take care of your pets