A will can be an important document to include in one's estate plan. Through it a person can direct where they want items of their property to be distributed, as well as assign individuals to be caretakers of their children and dependents. To create a valid will, an Encino resident must be an adult, be of sound mind, and must have two individuals witness the signing.
The New Year is practically here and readers of this Encino-based legal blog may be busy preparing themselves for parties and celebrations on December 31. However, individuals should also be taking time out of their hectic holiday schedules to consider if one of their most important planning tools is current and accurate: their end of life estate plan.
Not long ago this Encino-based legal blog discussed the problems that can develop if a person passes away without a will in place. A will is a common and well-known estate planning tool that directs the distribution of a person's property and money to beneficiaries. Though a will is an important tool to have included in one's estate plan, it is not the only thing that a person needs to ensure that their property and rights are protected.
There are not many things that are guaranteed in life in California, but one of the unfortunate ones is that no one lives forever. At some point in time everyone will pass away. When this occurs, people are not able to take any of their money or their possessions with them. Those things will then have to be taken care of in some fashion. There are two different ways that people's property will be distributed. One is pursuant to a will or trust and the other is through California law if there is no will.