Creating A Comprehensive Will For Estate Planning

Planning to get your affairs in order before you inevitably shuffle off this mortal coil? While the inevitable end might be daunting, creating a last will and testament can also be a long and confusing process without the right guide.

Deciding how to go about your will and inheritances usually requires the guidance of an estate planning attorney or an inheritance lawyer, but here is a quick how-to guide for Los Angeles natives intending to organize their affairs.

How To Write A Will: A Comprehensive Guide For Estate Planning

Passing away without a will can lead to being deemed intestate by the state, which leads to the local government having to make decisions about your assets for you. This might not go according to how you might have wanted to plan it, so establishing a will and inheritances ensures that our last wishes are carried out how you would like them to.

Step 1: Assess Your Estate And Your Assets.

The first step to writing your will is to make note of your entire estate. It’s important to know what assets you have at your disposal, because that will allow you to decide what happens to them when you pass away.

This is the biggest role of a will in the event of your death. A last will and testament is what helps the court figure out how to divide your estate.

Step 2: Think About Who You Want To Be Your Beneficiaries.

This brings us to the question: who would you like to inherit your assets after you pass away?

Make sure to take the time to think about who you want as your beneficiaries. In the event of an untimely demise, the most important thing is to ensure that your family is well-taken care of and that your assets are protected.

Especially if you have young children, including a clear plan for them in your will allows you some peace of mind and a say in their futures. Writing a will will let you name a trusted guardian for them, indicate what is to be done with your assets in order to provide for them. With a will and inheritances, you can continue to look after your children even after you are gone.

Just be sure to review each beneficiary you name and that the proper names and titles for each are assigned to the assets in your estate. The clearer you are, the less confusion there will be, and the less likely any of your stipulations will be contested in court.

Step 3: Choose a trusted executor for your will.

The executor of your last will and testament is in charge of overseeing your affairs, and making sure that your last wishes are expressed. In Los Angeles, you can choose a family member that you trust, or the estate planning attorney that helped you draft the will.

Step 4: Make Sure To Establish Any Legal Directives.

A comprehensive will also includes any legal directives that can be enacted even as you are still among the living.
Some directives you can include in your will are:


A Trust

This allows you to delegate parts of our estate toward certain causes or other things while you are still living. A trustee may take over if you are ill or unable to function, and the assets from the trust are transferable to your beneficiaries after your demise. A trust lets you bypass the court probate that might delegate your assets outside your wishes. Something to consider is an irrevocable trust, which, after it is put into action, is something even you cannot change or revoke.

A Living Will

Also known as a medical care directive, a living will lets you have a say in your medical care in the event you are incapacitated by an illness. If necessary, you are free to leave instructions regarding life support.

You could even consider assigning power of attorney to a trusted individual to make decisions about your medical treatment and healthcare if you are incapacitated.


Power Of Attorney

Power of attorney can also be applicable outside medical care to handle your finances and other assets of your estate. A limited power of attorney is an option available to set certain limits for the individual you assign to represent you.

Consider your choice to award power of attorney very carefully.

Step 5: Take The Time To Research Your State’s Estate Laws.

An inheritance lawyer is a great resource to learn more about your state’s estate laws. You can learn more about how to minimize potential estate and inheritance taxes levied against your assets.

Different states adhere to different estate laws, and only the largest states must deal with estate taxes. Still, it’s important to consider the taxes your beneficiaries might have to overcome in Los Angeles.

Step 6: Hire An Estate Planning Lawyer.

Ultimately, your estate and your will is yours to decide how you will. Regardless, you could benefit from the guidance of an inheritance lawyer or estate planning attorney when it comes to how to write a will.

If you’re looking to work with an estate planning attorney in Los Angeles, consider reaching out to The Law Offices of R. Grace Rodriguez. We are a local probate and estate firm that is happy to work with you to ensure that you and your loved ones are adequately prepared for the future. Contact 818-734-7223 or 805-364-0884 to learn more.

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