What is a Will. Why do they matter?
What is a will? Most people have heard about wills. Many are familiar with estate planning and the documents that make up a complete plan. They hear terms like wills, trusts, healthcare directives, HIPAA authorizations, powers of attorney, and deeds, and wonder: What are these documents? What do they mean? Why do they matter? Do I even need one or all of them?
Over the course of this post and the estate planning posts that follow, I will briefly introduce each of these essential estate planning tools.
Today’s focus is the Will. Sometimes this document is referred to as a last will and testament, and if the estate plan includes a trust, the will may instead take the form of a pour‑over will.
What Is a Will? Purpose and Function
A will is a written legal instrument signed and witnessed by the testator, the person creating it. Because wills and trusts are governed by state law, the rules vary. For simplicity, this post focuses on California law, though you should always research the requirements in your own state. The rules can vary even within the same state, depending on an individual’s specific circumstances, the size of their estate, and the way they intend to distribute their assets..
Types of Wills in California
Holographic Wills A holographic will is one where all material provisions and the signature are in the testator’s handwriting. No witnesses are required. A date is not required, but if the will is undated and there is a question of inconsistency, it may be deemed invalid. For that reason, if you choose to have a holographic will, I recommend that you date it. If you’re concerned about whether your will would be deemed valid if it were challenged in court, consider having a qualified legal professional draft it for you.
Statutory Wills California provides a statutory will form. A testator may execute a statutory will if they are at least 18 years old and of sound mind. To be valid: All blank spaces must be completed in the testator’s handwriting. The will must be signed by two witnesses, who sign in the testator’s presence. The testator must personally sign the will.
Attested Wills These wills are prepared by lawyers and are generally preferred. Trusts and estates law is complex, and tax considerations often intersect with estate planning. An attorney knowledgeable in these areas can ensure the document is properly drafted and tailored to your needs.
What Does a Will Do? Key Benefits
Name Guardians for Minor Children A will allows you to name guardians to care for minor children. Depending on your state, additional documents may also be used to designate guardians.
Appoint an Executor or Personal Representative A will lets you name the person responsible for settling your affairs after death. Their responsibilities may include working with the probate court, gathering and protecting your assets, paying debts, and distributing what remains to your beneficiaries. If you have a fully funded revocable trust, this feature may be less relevant because assets titled in the trust avoid probate.
Direct the Distribution of Your Assets A will outlines how your accounts and property should be distributed at death, except for assets that pass by beneficiary designation such as life insurance or retirement accounts.
Lower Upfront Cost A will typically costs less to create than a trust. However, probate administration after death may be more expensive and time‑consuming.
Final Thoughts
A will is a foundational estate planning document. Even if you have a trust, your will plays an important role in naming guardians, capturing overlooked assets, and ensuring your wishes are honored. The key is understanding what your will does and what it does not do, so you can build a plan that truly protects you and the people you love. Here is a link to the California Probate Code, just in case you are up for some light reading. Here is a link to California Legal Guide Pamphlets.
Call to Action
If you are unsure whether your current will reflects your wishes, or if you have never created one, now is the time to take the next step. A thoughtful, legally sound will is one of the greatest gifts you can leave your loved ones. Schedule a consultation to review your existing documents or begin creating a will that truly protects your family.
Additional Resources
What Is a Healthcare Directive?