When is it important to have a
will? Does it make sense for someone with very little possessions to make a
will? The answer to that question depends upon whether or not the person
is comfortable with the state they live in taking over and dividing their
property in the event of an unexpected death.
Is a will right for you?
The purpose of a will is to distribute property and legally protect this
distribution. A will can be a simple, typed out document that details
the extent of property that individual persons receive in the event of
a death. If a person dies without a will, property may go into probate,
which may cause different distribution than what the deceased would have wished.
Many state laws will give a person's parents, spouse, child, or other
close relative possession of a person's properties. In California,
interstate succession laws will establish a person's heirs and determine
how property will be divided amongst them. If a person wants their possessions
to go to someone else or a charity, stating these concerns in a will is
A will can also allow an individual to designate who will oversee how property
is handled. If there is someone outside of the state who is better suited
to distribute property, a will can name this person the executor of the estate.
Deciding whether or not to make a will is a personal decision. As circumstances
arise, such as having children or developing health problems, it may make
sense to create financial planning documents. If a person is comfortable
with how the laws of the state will distribute their property, then a
will may not be necessary.
If a person is seeking to make a will to ensure their property goes into
specific hands, hiring an estate planning attorney can make this process easier.
The Woodbury Law Office can make sure this is an empowering decision in a person's life. Request
a free consultation with our firm today!