Antelope Valley estate planning law firm Thompson Von Tungeln answers the question "What is a will?"
Lancaster, California (PRWEB) April 8, 2009 -- Antelope Valley estate planning law firm Thompson Von Tungeln answers the question "What is a Will?"
According to Antelope Valley estate planning lawyer Kevin Von Tungeln, a will is a traditional legal document that names individuals or organizations that will receive a person's assets after their death; nominates an executor who will be appointed and who will be supervised by the probate court to manage their estate; and nominates guardians for their minor children.
"For the most part," explains Von Tungeln, "most assets in your name are governed by your will. There are some exceptions, however, of assets that pass directly to named beneficiaries. These exceptions include: life insurance policies, IRAs and other tax-deferred retirement plans and some annuities and certain co-owned assets, and securities accounts and bank accounts if they are set up as payable on death (POD) or transfer on death (TOD) accounts."
Von Tungeln added that assets transferred to a revocable living trust would be distributed according to that trust, not your will.
"Although many people can and do use fill-in-the-blank forms to create their wills, I would advise against it," said Von Tungeln. "Because laws in the state of California and federal laws are frequently changing, it takes a California estate planning specialist to make sure that your loved ones will be fully taken care of in the way you would want, after your death."
About Kevin Von Tungeln
With more than 17 years' legal experience, Kevin L. Von Tungeln serves Thompson Von Tungeln in the areas of estate planning, probate, trusts, wills, trust administration, conservatorships, guardianships and elder law. He is certified by the State Bar of California Board of Legal Specialists as a Board Certified Specialist in Estate Planning. Get to know more about Kevin's approach to estate planning by viewing his informational videos at: http://www.youtube.com/user/ Kevin can also be found at LinkedIn by going to: (www.linkedin.com/in/kevinvontungeln)
About Thompson Von Tungeln
Antelope Valley estate planning law firm Thompson Von Tungeln (TVT) offers sophisticated estate planning and administration for the affluent, discriminating client. As Board Certified Specialists in Estate Planning, Trusts and Probate as certified by the State Bar of California Board of Legal Specialization, partners Mark E. Thompson and Kevin L. Von Tungeln are expertly equipped to serve these clients with the creative, effective and custom solutions they demand. For more information, contact TVT at 661-945-5868 or visit their website at www.EstatePlanningSpecialists.com.
See Also:
- BenefitsCafe.com Launches Funny Videos to Explain Health Insurance
- Gartner Names Mendix a 'Cool Vendor 2009'
- ID Watchdog's Identity Theft Protection Service Featured by Identity Theft Labs
- To Combat the Sluggish Job Market, MBA Focus Offers Companies Free Access to Global Focus� MBA Recruiting System
- Unleash Your Productivity and Drive Down Your Cost: Offload Tasks to a Team of Virtual Assistants
[Via Legal / Law]
No comments:
Post a Comment