Creating a will is an important step in planning for the future of your estate and family after you’re gone. A well-crafted, comprehensive estate plan can take time and expertise to complete, but it’s worth the effort to mitigate the chances of a complicated, divisive probate process.
Poorly written or out-of-date wills can present any number of issues during a probate process. Beneficiaries are already struggling to grieve the loss of a loved one which means tensions are high and emotions are at the forefront for many involved in executing a will. Our California probate lawyer explains more below.
To lessen the likelihood of a litigious probate process, keep in mind some common errors in estate planning and work to avoid these pitfalls.
1. Choosing an unreliable executor
The executor of your estate holds a great deal of responsibility and power in carrying out your final wishes. Whomever you choose to execute an estate plan needs to possess important traits such as trustworthiness, common sense, business sense and organization skills. This list is by no means exhaustive, but should give an indication of the kind of person capable of carrying out the duties of an executor for your estate.
Additionally, this person has to be available during probate. Distance and lack of ability may impact an executor’s ability to perform the necessary tasks. It may seem obvious, but this person has to outlive the estate holder. Use caution when choosing an executor around the same age. If a person near your age is most qualified, always choose a successor in case the first choice is unable to perform the necessary executor tasks.
2. Leaving an out-of-date will
Keeping a will up-to-date is incredibly important to a successful probate process. Creating a will for the first time is an important step in estate planning, but it’s not the last time to think about your future plans. Revisit your estate plan periodically throughout your life, about every two to three years.
