How do I know if I need a will?

Question

How do I know if I need a will?

Answer

If you do not want your estate to pass to your intestate heirs, you need a will.

If your estate is worth more than $150,000, you need a living trust.

Answer

If you are married, and you have any separate property at all, then you need a will, because your separate property (such as an inheritance) would go only 1/3 or 1/2 to your spouse on your death, and most married people want to leave everything to their spouses.

Also, if you want to leave your assets to persons other than those provided for by California's intestate succession laws (google it for details), then you need a will.

Strictly speaking, you don't need a trust if your estate is worth more than $150,000, but a trust would allow your estate to avoid the hassle, most of the expense, and most of the time involved in a probate.