WILLS

In general: A will is a legally executed document that states how all property in your name is to be distributed at your death. Among other things, a will can:

• Designate property to be placed in trust for family members or other beneficiaries
• Designate a guardian for any minor children
• Direct how debts, taxes, probate fees, and other cost are to be paid
• Provide living expense for family members during the probate period
• Designate a fiduciary to manage the affairs of an incapacitated beneficiary and;
• Name an interim manager of your affairs
• Of course, your will won't become effective until your death. But until then, you can change the terms or revoke it, as long as you're considered mentally competent.
• Provide the prerequisite for the non-probate transfer of small estates

Cost:  Initial fees for a professionally drafted will can be anywhere from $100 to $2000 and up.

Click here to see FAQ about The California Statutory Will Form (Click here) to access the actual form. While fees are modest, the cost of probate can be high.