Having a will that is out of date is like having no will at all. Here are five things that can make your will useless:
1. Beneficiaries have died. If the heirs you have named in your will died before you do, then your estate will be distributed according to California probate law – just as if you had no will at all.
2. Potential new beneficiaries. If you have gotten married and/or had children after your will was written and you did not change it to provide for them, state law will govern the distribution to these beneficiaries.
3. No executor. If the person you named as executor of your estate has died or is unable to serve, the court will appoint another person – and it may not be someone you would have wanted to serve as executor.
4. Change in property ownership. If you bequeath property to someone in your will and then sell that property before you die, the person you named will receive nothing.
5. Change in the law. If you have had your estate plan crafted specifically to avoid estate taxes and the estate tax law changes, your will may no longer serve the purpose that you intended.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0041.