Reasons to Amend Your Will
- Disinherit a former spouse
- Accommodate a new partner
- Protect the rights of your biological children
What to Consider When Creating or Revising a CA Estate Plan
Estate planning is typically a collaborative process, with both spouses making decisions intended to protect their health, wealth, and intergenerational aspirations.
However, second marriages can create estate-planning conflicts. You should ask yourself the following questions before committing to a plan:
- If you, or your spouse, have children from your previous marriages, what assets will be left to your children?
- Do you plan to have more children with your new spouse? If so, how will you accommodate their inheritance in your estate plan?
- Are you or your spouse bringing any significant debt into the marriage?
- Does your existing will or revocable living trust need to be amended to accommodate your new marriage?
Considering these types of questions provides an opportunity to understand your own estate planning goals and to ensure that you and your spouse can make informed decisions that protect your loved ones.
Protecting Your Children’s Rights to Inheritance After a Second Marriage
California is one of several states with community property laws. Under the Golden State’s community property system, most assets acquired during the course of a marriage are considered joint marital assets. When one spouse dies, the surviving spouse is accorded a one-half interest in the remaining community property.
While community property laws can protect the surviving spouse’s personal and financial interests, they could jeopardize the decedent’s children’s rights to a fair inheritance. If, for example, the deceased spouse had intended for their family home to pass on to their biological children, California’s community property system could make it difficult—if not downright impossible—to re-title the home without the surviving spouse’s consent.
An experienced California estate planning attorney could help you protect your estate by:
- Creating or revising a last will and testament
- Updating beneficiary designations
- Establishing a revocable living trust to condition and disburse inheritances without the need for probate
- Drafting a prenuptial or postnuptial agreement to separate each spouse’s assets
The Law Firm of Kavesh, Minor & Otis, Inc. for Your Estate Planning Needs
If you need to create an estate plan, update your current plan, or handle the estate of someone who’s died, The Law Firm of Kavesh, Minor & Otis, Inc. is here to help. We only handle estate planning and post-death administration, and together, our attorneys have more than 70 years of combined experience in these fields.
Our law firm has helped over 25,000 people in California leave a lasting legacy to their loved ones, getting to know each client, listening to their concerns, and learning about their needs and goals to create a plan that carries out their wishes. Additionally, we’ve implemented 4,000 plans after clients have passed away.
