Wills

A Will is a legal document that takes effect upon death. It allows you to direct the distribution of your assets and name a person to administer your estate (your “Executor”). If you have minor children, you can also nominate a guardian to care for them in the event of your death.

At your death, your Will must be probated if your estate exceeds certain thresholds. This means it must be filed with the court, becomes a public document, and goes through the probate process. If you die without a Will (intestate), the probate court will distribute your assets to your surviving relatives according to California law. A Will does not avoid probate; however, it ensures that your assets are distributed according to your instructions.

A Will has no legal effect during your lifetime and therefore does not address incapacity. Without additional planning, a conservatorship may be required if you become unable to manage your financial or personal affairs. For this reason, a Will is typically used in conjunction with a durable power of attorney for financial matters and an advance health care directive for medical decisions.

For some individuals, a Will may be sufficient to accomplish their estate planning objectives. However, if you have a significant estate, own real property, or have beneficiaries with special needs, a Will alone may not fully accomplish your estate planning objectives.

A Will operates separately from a trust. Even if you have a trust, you should also have a “pour-over will,” which directs any assets not held in your trust to be transferred into the trust at death. If you have a properly funded trust, there is generally no need to probate your Will.