A last will and testament is a vital first step in getting prepared for an estate plan. The will helps determine who will be in charge of your estate and what powers they will have. If you’re overwhelmed at the prospect of writing a will, Heather Lynn Law, APC is an experience Rancho Cucamonga estate planning attorney that can help get you started.
It is important to keep in mind that while a will is a crucial first step, and is absolutely better than having nothing, it will NOT help you avoid probate if your estate has a value over $150,000. Therefore, a complete estate plan should include both a will and a living trust to truly protect you.
Here at Heather Lynn Law, APC, we are committed to helping the residents of Rancho Cucamonga and San Bernadino county create an estate plan for their family’s future. It is a long and intricate process, involving the creation of a will, picking a trustee, choosing health care directives, giving power of attorney, allocating property, filing beneficiary forms, considering life insurance, covering funeral expenses, and much more.
Planning a will is a process on its own. Here are just a few tips that go over the process, and how to approach it.
Selecting Beneficiaries – Most people don’t have to be told about beneficiaries, that’s the whole point of a will. However, many people forget to update their list of beneficiaries as time goes on. This is something better taken care of ahead of time rather than in a rush.
Choosing an Executor – Someone will have to oversee how the will is carried out; this is the executor. The bank or an attorney is often chosen as executor, at a cost of between two and four percent of the estate on average. Family and friends are other great choices, although it is still recommended that they are compensated through the estate.
Picking a Guardian – It is not necessary to get permission before designating someone a guardian. However, if this is the case, it is recommended to list at least three different potential guardians in case the primary is unable to take custody.
Be Specific – A vague will is a useless will. The point of estate planning is to preempt any points of contention on the property so that it can be allocated smoothly. Any inconsistencies or broad wording can come back and cause trouble later. Heather Lynn Law, APC in Rancho Cucamonga can help.
Heather Lynn Law offers compassionate, personalized estate planning solutions built for your specific needs.
Full‑service estate planning including trusts, wills, powers, directives, prenuptials, notary, and more.
Answers for you on trusts versus wills, probate fees, the estate planning process, and so much more.
Please note, in person meetings are held in Fontana, California. Address will be provided once counsel has been retained
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