What Happens if a California Will Doesn’t Mention Some Assets?
When someone passes away and leaves behind a will, this legal document serves as a guide for how to distribute their assets. When there is a will, estate assets are usually divided according to the deceased’s wishes as outlined in the will. But what happens when a will does not name all of the deceased’s assets? In California, this scenario is more common than you might think. Whether it is a newly purchased vehicle, an overlooked bank account, or a neglected piece of land, omitted assets must still be addressed during probate. In this article, we discuss how probate courts in California handle situations where a will does not mention certain assets.
What Constitutes Unmentioned Assets in a Will?
In California, unmentioned or omitted assets are those assets that were not included in the will. Usually, omitted assets are discovered after a will has been admitted to probate. When some assets are not mentioned in a decedent’s will, it can lead to complications.
Several assets may be left out of a decedent’s will, including the following;
- Assets the testator (the decedent) purchased or acquired after they created the will
- Assets the testator forgot to include in the will
You might assume that if assets are not included in a will, they will go unclaimed or be ignored. However, unmentioned assets do not automatically go unclaimed or ignored. Probate courts are responsible for determining how omitted assets should be divided.
How Do Probate Courts Handle Omitted Assets in California?
In California, probate courts employ a few approaches when dealing with cases where a will does not mention certain assets. These approaches are discussed below;
- Residuary Clause
When drafting a will, one crucial component that some people add is the residuary clause. This clause addresses any “residue” of a decedent’s estate, which includes any assets not mentioned in the will and proceeds from the sale of property. A residuary clause specifies who should receive any remaining assets not mentioned in the will. If a will has a residuary clause, any omitted assets will go to the individual or individuals named in that clause.
- Codicils
A codicil allows the testator to clarify, modify, or revoke the provisions of a will without canceling the entire document. If a codicil was created before the testator passed away, it may contain information about assets not mentioned in the original will. If it does, the assets will be distributed according to the codicil. However, for a codicil to be considered valid, it must be executed with the same formal requirements as a will.
- Intestate Succession
If there is no residuary clause, no valid codicil, or the codicil does not mention the omitted assets, the court may distribute the unmentioned assets according to intestate succession laws. This means the probate court will treat the omitted assets as if the decedent died without a will. Those assets will go to surviving relatives in an order of priority specified under the law.
If you are the executor of a decedent’s estate, and you discover that some assets are missing from the will, take the following steps;
- Inventory all assets, including the omitted ones
- Check the will for a residuary clause
- Look for a codicil
- Consult a probate attorney
Contact The Probate Guy
If you need help handling a deceased loved one’s estate, contact the trusted, recommended, and successful California probate attorney, Robert L. Cohen – The Probate Guy – today to schedule a consultation.
Southern California Probate Lawyer Serving Orange, Riverside, Anaheim, Whittier & Beyond.
