Who Needs a Will?

In my practice, I oftentimes have clients ask who needs a will, as in the state of California most homeowners need a trust (see my recent blog on the differences between a will and a trust: http://borjaslaw.com/2018/10/25/do-i-need-a-will-or-a-trust-in-california/).

The short answer? Every adult can benefit from having a will. However, parents who may not own property can benefit by having a will because a will is where parents can designate guardians for their children. This action provides parents peace of mind, because in the unlikely event children are left without their care, they can actually choose the guardians. These are oftentimes difficult and emotional conversations to have, but in my experience the preparation and planning for family security ultimately brings peace and assurance.

If a person intends to purchase a home in the coming year, I may suggest a trust. A trust allows more complexity with planning. Also, mixed families and the desire to distribute wealth and assets among children from a previous marriage typically require a trust. Typically, when I draft a trust for a client, a will is included. So, you may benefit from a trust and a will, or just a will, depending on your situation.

Do you have a will? I offer a complimentary consultation to see which tool best fits your needs.

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