Legal Question in Wills and Trusts in California

Re: WILL or Trust?

For an estate of that size you need an estate plan which would likely include a living trust. Call me directly at (619) 222-3504.

Re: WILL or Trust?

You can do it yourself, and some kits are better than others, but it's easy to overlook some things, especially when you have a fair amount of assets and could be subject to estate tax in the future (currently the estate tax starts at $1.5 million, including life insurance and retirement plans). I'd recommend an attorney prepare your estate plan, but you're free to research it and do it yourself.

As for review, an attorney will likely charge quite a bit for that, and many wouldn't take on the liability, preferring instead to prepare an estate plan they're sure about.

Re: WILL or Trust?

Why would you not spend a few dollars on a lawyer when so much is at stake? If you do not care about the consequences and are willing to leave it to chance, yes, go ahead and do it yourself.

A notary is of no value to a will, you need two witnesses with no interest in the will.

JOEL SELIK

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Re: WILL or Trust?

I answer all of these types of questions in the same way. Do not under any circumstances use a duly yourself trust/will set of documents or kits. I'm not even aware of the one that you are mentioning. You are doing yourself and the heirs a disservice and could cost thousands of dollars in taxes which would not otherwise have to be paid. Your question shows that by itself in that if you knew anything about a trust you would understand why $1 million is a lot of money to be playing with. Go out and get an attorney who is it expertise in estate planning/probate. He or she is worth their weight in gold and could save you a substantial amount of money for very little out lay of dollars. Get my drift. Do it yourself is not good in legal affairs when you don't have the history, knowledge, education, and ability. Basically it is pay me now or pay me a lot more later to unscramble your egg and cure the problems you will caused.I have been practicing law in the San Francisco Bay area for approximately 35 years and expert in the area in the category in which your question is placed. I feel I can help you in this matter and if you wish to consult with me please contact me at 925-945- 6000.

Re: WILL or Trust?

You can do anything you want, including writing no will, but each decision will have ramifications you may not understand. In fact, you can even write out a valid will in your own handwriting if you know the requirements for preparing a holographic will.

If you are going to have an attorney review your work, it's probably easier just to have the attorney prepare the will. Think of the money you will be spending to prepare the relevant documents as an insurance policy for your heirs.