Estate Planning During COVID-19, Part 2

Estate Planning During COVID-19, Part 2

Part 2: The Holographic Will.

While it is difficult to think about what happens to our family and possessions after we die, it is something many people are thinking about right now. In my previous post, I explained how estate planning can continue with attorneys who are set up to work remotely and the proper care and procedures relating to witnessing and notarization.

However, if you can’t create a formal will or trust right now, you have other options that could be helpful in an emergency.

One option is to create a “Holographic Will”. This is a temporary solution until you can complete a more formal estate plan. It’s not the best type of will, but it is better than nothing. All that is required is for you to write your wishes for disposing of your assets in your own handwriting. Then, date it, sign it, and make sure that a trusted person knows where it is. This is easy to do at home and it may be appropriate to do now when you may have more time to think about and discuss the disposition of your assets and the guardianship of your children and pets.

Please realize that a Holographic Will does not have the legal protections that a formal, attorney-drafted will or trust gives you. It is just a temporary option for those who don’t have a formal estate plan. Someone will still be required to file it in probate court after you die. However, the dated, handwritten and signed document gives you some assurance that when presented in probate court, it will provide direction from you for the Court to follow to determine the disposition of your assets.

I hope this is helpful and I am here to help you navigate this, but please read the disclaimer below. This blog post does not apply to you if you’ve already done your estate planning and have a will or trust in place.

I wish you and your family health and wellness.

DISCLAIMER: The information provided in this blog article is provided for informational purposes only and should not be construed as legal advice on any subject matter. Use of and access to this information does not create an attorney-client relationship between the Law Office of Margaret T. Healy and the user or browser.

Margaret T. Healy is licensed to practice law in the State of California only and maintains offices in the County of Los Angeles. Any and all information published in this blog article is specific to the State of California and may not apply in your state.