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.

The California Statutorv Will Form (Click to access the form). While fees are modest, the cost of probate can be high.