We never want to talk about death, but the reality is that it will come at some point. The worst situation your family can be is when you die and they do not have a legal document such as will or a living trust that protects them during the transfer and distribution of assets and properties. Drafting a last will and statement is among the ideal ways you can ensure you protect your wishes. An estate planning attorney in Orange County, CA is in a better position to help prepare this legal document. Here are things you want to ensure they are included in the will:
Have a list of your most important assets and look carefully to see, which ones you include in the will. See which assets you can distribute using other means. In the will, you can include real estate properties such as a home, an apartment, a condo, and other real properties you own.
However, jointly-owned properties, money, and life insurance policy proceeds may require a different means of distribution, for example, a living trust or a payable-on-death account.
The beneficiaries of the property
You need to name the persons who will inherit the properties and assets. You should determine who gets what. This can be a complex thing, especially where there is more than one beneficiary.
Decide who executes or administers the will
The executor or administrator of a will is the person who carries out the terms and is involved in the distribution of assets. The same person will ensure that the final debts you carried by the time of death are also paid.
If you have children who haven’t reach 18, you want to name a guardian who can take care of them, should you not be able. The guardian should be over 18 years and needs to have a genuine concern regarding the welfare of the children.
Somebody to manage the property of your children
In the event that you consider leaving property or money to a child who hasn’t attained the age of 18, who takes care of it? You need to choose a person who will help in managing the property they inherit until they attain the adult age.
Protect your family’s future by creating a will with help of a trusted estate planning attorney in Orange County, CA.