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Wills If you aren't certain that you need a will, think about what will happen if you don't. If you are married, your spouse gets all of your community property. If you have separate property, your spouse gets part of it and the rest goes to your children, grand children, etc. If you aren't married, your relatives will get your property. If you don't have relatives, the property goes to the State of California. A judge will determine who gets what, using some long-established guidelines. The judge cannot give part of your estate to your friends or a charity. This is called probate. We spend a lot of time trying to resolve disputes among the relatives of people who have died 'intestate,' or without a will. You may think that your children get along with each other, but when you pass, do you really want them to fight about who gets a family photo album, or whose handicap means that the Calloway golf clubs should go to them? Do you really want a complete stranger -- a judge you may not have even voted for -- deciding those issues? Unless you have no relatives and want the State of California to get your estate, you need a will. Taxes. Taxes are an important issue. At a certain amount ($1,000,000 in 2006), your estate has to pay taxes. You can avoid paying unnecessary taxes if you have a properly planned estate. If you are a California resident and need a will, please e-mail SHyde@cmsynergy.com. The initial consultation is free.
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Cynthia Coulter Mulvihill, APC |