So the New Year has passed, the parties are over and planning for all of those resolutions are well under way. One resolution many people make in California is to review their wills or to create one if it does not already exist. Life changes, such as the birth of a child, can cause a person to create a will. But what about the couple without children? Is a will really needed in that instance?
Regardless of whether or not a couple has children, they should have a will. Without a will, if a spouse dies, the surviving spouse may inherit some of the deceased’s assets. Accounts that are not set up as survivorship accounts might not be payable to a surviving spouse without estate documents in place.
Having a will leaves one in control of the disposition of one’s assets in the event of one’s death. There is always the chance that a couple might die together, and then any assets they left behind would be tied up in court and eventually go to people designated by the court as one’s next of kin. The people designated may not be those one would have chosen to include in a will.
It is often recommended that all adults in California have wills or trusts in place. Almost everyone has property or assets that they care about and want to pass on after their death. While contemplating one’s death is never a pleasant experience, being prepared for it can be a valuable gift to those who are left behind.
