“I want everything split equally.” — The Classic Mistake of the Final Will

11:27 am Uncategorized

You’ve spoken to a California asset protection lawyer and you’re ready to start working on that will. You have two children and you want them each to have exactly half of everything from the family vases to the contents of the bank accounts.

Bad news. If you use simple language like “I want Joanie to recieve half and Chachi to receive the other half,” it won’t end up that way; it will, however, most likely end up in probate and may even cause awkward tension for your surviving children and/or other beneficiaries.

So what can you do? Have your California estate planning specialist take your simple wishes and good intentions into proper legalese so that no (or very few) questions can be raised about who gets what or what goes where.

If you want Joanie to have the lamps and Chachi to have the paintings, say exactly that. And go a step further: “I want Chachi to have both the Picassos and the O’Keefe, and I would like Joanie to have the antique Spanish Toledo lamps.”

The point is that the more detailed you are the less room there is for subjective opinion — your wishes present themselves as fact, as inventory. With the help of your Newport Beach Will Preparation Lawyer, these kinds of final will and testament stipulations are quite simple to make.

Your California legal and financial planning experts are at your service; Contact us today.

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