Several Ways to Decide on the Best Will
There are some people who don’t need a will. If you have no assets or property to speak of, and no minor children, it might not be worth the bother. If you’re homeless and looking for a job, writing a will should be one of the least of your worries.
If you die intestate--that’s a term lawyers use to describe dying without a will--state law establishes who will inherit your property. If you are married and have no children, your spouse will inherit all of it.
So if you are married and a person of modest means, with no children, when you die without a will, your property will go to your spouse. If both you and your spouse die in a common accident, or your spouse dies first, state law establishes who inherits your estate, listing in descending order which family relative has the right to receive it. With no children, and no spouse, your parents would be first in line. Your estate will go to the state if no one on the list of relatives is alive.
If you want your spouse to have all your wordly goods--and you don’t have very many and you don’t care what happens if your spouse isn’t around to enjoy them, bothering with a will may not be necessary for you.
Of course, a will allows you to appoint an executor, who will be in charge of the financial affairs of your estate during the probate process. If you die without a will, the court will appoint someone (called an administrator) to do that job (obviously, without consulting you). That’s another downside risk of not having a will.
On the other hand, there are some people who absolutely should have a will. Married couples with minor children should each have a will in order to select a guardian who will take care of the children in the event both parents die. The wills should be consistent, so that one parent isn’t selecting a guardian different from the other.
People who have substantial assets--which in Southern California means just about anyone who owns a home--should have a will and perhaps even an extensive estate plan, including a trust.
Those people who decide to have a will must then decide whether to try to draft it themselves or hire a lawyer. There are several books and self-help, will-drafting guides on the market. If you don’t have substantial assets, a complicated estate (if you own your own business, for example) or a family that is likely to squabble about the inheritance, and if you are relatively bright and sophisticated, you might try to use one of the many self-help books to write a will. Try to select one that focuses on your state alone. Some of the guides that try to deal with the laws of all 50 states are relatively superficial and may get you into trouble.
Hiring a lawyer can cost anywhere from $150 for a simple will to several thousand dollars for complicated estate plans.
There’s another option if you don’t want to hire a lawyer. The state has authorized a fill-in-the-blanks form that is satisfactory for people who have relatively basic, straightforward needs. You can leave your property to your spouse, select an executor and a guardian for your children and even set aside an amount for a charity in the form will.
An alternative form allows you to establish a trust for minor children, which will be administered by the person you select. The will forms are available from the State Bar of California for $1. Send a self-addressed stamped envelope to P.O. Box 411, San Francisco, Calif. 94101.
If you do need a lawyer, select one with care. Choose someone who specializes in drafting wills and trusts and who makes you feel comfortable, because you will have to discuss personal choices you are making. You don’t have to hire the first lawyer you visit. Interview several before making your selection.
Klein cannot answer mail personally but will respond in this column to questions of general interest about the law. Write to Jeffrey S. Klein, Legal VIEW, The Times, Times Mirror Square, Los Angeles 90053.
