Legal Question in Wills and Trusts in California

Re: Wills

To make sure each family member is protected I would get professional help on this. Also, you did not say in you posting how property should be shared if only you or only your spouse passes away. Depending on the size of the estate you may consider some estate planning. This can be done very economically, since in some cases the government can take as much as half your estate in taxes.

Re: Wills

Who gets the extra .01%?

I might suggest you say each child gets 1/3.

If you are going to do it yourself I suggest a handwritten will is better than a compueter form.

However, you probably should call a qualified attorney in your area and learn about living trusts. Especially if you own your house.

Good luck.

Re: Wills

You can each execute a "holographic" will, which means that you handwrite the will and make sure that it is signed and dated. The problem with doing a will only, is that if you own any real estate, or personal property valued at over $100,000, your estate will probably go through probate. In addition, with only a will, you have not designated anyone who can manage your affairs for you if you become unable to do so while you are alive. Usually, a trust-based plan is much better for you, and your children. If you have any additional questions, I can be reached at [email protected].

Good luck, and have a nice trip!