Estate Planning
Wills & Pour-Over Wills
A will is an essential part of most estate plans — but understanding what it does and does not accomplish is just as important as having one.
What a Will Does
A will is a legal document that directs what happens to your probate assets at death. It can name a personal representative (executor) to administer your estate, identify guardians for minor children, and specify how your assets should be distributed. A will takes effect only at death and must generally be admitted to probate before it has legal effect on the assets it governs.
What a Will Does Not Do
One of the most common estate planning misconceptions is that a will avoids probate. A will tells the probate court who should receive probate property — it does not make the probate process disappear. If significant assets remain titled solely in the decedent's individual name without another method of transfer, a will may actually be the document presented to the probate court to govern the administration.
The Pour-Over Will
A comprehensive living-trust estate plan commonly includes a pour-over will. The pour-over will acts as a backup — if an asset that should have been transferred to the trust remains outside the trust at death, the will generally directs that asset to the trust. But a pour-over will should not be confused with automatic probate avoidance. Depending upon the nature and value of assets left outside the trust, probate or another court procedure may still be necessary before those assets can reach the trust.
Wills and Minor Children
For parents of minor children, a will serves a critical function beyond asset distribution: it is typically the document used to nominate a guardian for minor children. Without a will naming a guardian, a court will make that determination without the benefit of your expressed wishes. A will can also establish a testamentary trust to manage a child's inheritance, specifying who will manage the money, how it may be used, and when the child receives control.
When a Will Alone May Not Be Enough
For many Bay Area families — particularly those with significant real estate, multiple properties, business interests, or beneficiaries with special needs — a will alone may not accomplish all of their planning objectives. A revocable living trust can provide a more comprehensive framework for managing assets during incapacity, avoiding probate, and controlling how and when beneficiaries receive their inheritance.
Keeping Your Will Current
A will should be reviewed and updated after major life events: marriage, divorce, birth or adoption of a child, death of a named beneficiary or executor, significant changes in assets, or relocation. An outdated will may name an executor who is no longer available, fail to account for new family members, or reflect wishes that no longer match your current circumstances.
Related Estate Planning Services
Start with the Right Foundation
Wagley Law prepares wills as part of a coordinated estate plan tailored to your family and assets. Schedule a consultation to discuss your situation.
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