Types of Wills
Generally, there are three types of wills as recognized by the state of California. These include:
A holographic will is a handwritten will. It is rarely used and generally only in emergency situations because of their ability to be easily contested. California courts allow holographic wills; however, the entire will must be legibly handwritten by the author. Such a will doesn't need to be notarized or witnessed.
A statutory will is a prewritten will created by the state legislature. In essence, the will must be used exactly how they are drafted and without any modification or amendment. The form will be provided by the state, and you only need to fill in the blanks. A statutory will must be signed and witnessed by two disinterested parties.
Attorney Drafted Wills
Also referred to as the attested will, this type of will is prepared and drafted by the estate planning attorney. The document will be created to suit your individual needs, in accordance with California's various estate laws. The will must be acknowledged and signed by the owner and two disinterested witnesses.
Commonly Inherited Assets
Commonly inherited assets in California wills include:
- House or any other property
- Household items and personal belongings
- Motor vehicles
- Trusts and shares
- Money in a bank account
- Pension or life insurance payout
Why is Having a Will Important?
Having a will is important because it:
- Protects your family and assets
- Specifies how your estate will be distributed
- Specifies who will take care of your minor children
- Makes the probate process less hectic
- Prevents intestate succession (without a will, the state decides how your property will be distributed)
- Reduces or eliminate family conflict
- Reduces estate taxes
- Allows for gifts and donations
- Mitigates potential legal issues
Unfortunately, most people put off drafting a will or estate plan until it’s too late. It’s never too soon to start planning for an uncertain future.
Hire an Experienced Wills Attorney in Los Angeles & Orange County, CA
In the event that you are unavailable or unable to voice your opinion, your loved ones and dependents will benefit from knowing your wishes. An experienced California wills attorney can help you decide the estate planning option that best fits your needs.
At The Orantes Law Firm, we are dedicated to providing comprehensive guidance and assistance to clients in all matters of estate planning, wills, and trusts. As your legal counsel, we will advise you of your options and determine how best to help you accomplish your objectives for transferring your assets, real estate property, and wealth to your heirs and beneficiaries.
Additionally, our attorneys will diligently guide you through the process of creating a valid will and help you navigate key decisions. We will assess your unique situation and work thoughtfully to address your respective needs and concerns, as well as those of your surviving loved ones and dependents.