| Alan R. Horvath, Attorney at Law |
| Estate Planning - Will |
A will is a document by which you instruct the state as to how you want your property distributed in the event of your
death. A will has no legal significance prior to your death. You may change it any time you want. The beneficiaries
you name in it have no right to anything unless and until you die. Nothing prevents you from disposing of the property
prior to your death in a manner that is in conflict with what you say in your will.
Because a will takes no actions prior to your death, it is fairly simple to create. On the other hand, a will generally has
to go through probate. Exceptions exist if the will is disposing of less than $100,000 and less than $25,000 in real
property, or if it leaves everything to your spouse, who actually survives you.
If your will has to go through probate, it becomes a public document. In addition, probate is slow and costly. For
example, probate fees on a $100,000 estate are $4,000, and on a $1,000,000 estate they are $23,000. In computing
your estate, your house counts at its fair market value at the time of your death.
death. A will has no legal significance prior to your death. You may change it any time you want. The beneficiaries
you name in it have no right to anything unless and until you die. Nothing prevents you from disposing of the property
prior to your death in a manner that is in conflict with what you say in your will.
Because a will takes no actions prior to your death, it is fairly simple to create. On the other hand, a will generally has
to go through probate. Exceptions exist if the will is disposing of less than $100,000 and less than $25,000 in real
property, or if it leaves everything to your spouse, who actually survives you.
If your will has to go through probate, it becomes a public document. In addition, probate is slow and costly. For
example, probate fees on a $100,000 estate are $4,000, and on a $1,000,000 estate they are $23,000. In computing
your estate, your house counts at its fair market value at the time of your death.
P.O. Box 81
37 Main St., Suite 202
San Andreas, CA 95249
37 Main St., Suite 202
San Andreas, CA 95249
| Phone: 209 754-5291 Fax: 209 754-5293 |
| ahorvathlaw@sbcglobal.net |
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| Estate Planning By Phone for Any California Resident |