In California, a house you bought and paid for before marriage is considered your separate property, although it is possible a portion of it may gradually become community property over time. Without a Will, your wife will get half the house and your sister will get the other half (assuming your parents are deceased). With a Will, you can dictate who gets the whole thing. Plus you designate who you want to be in charge, called the Executor, which is usually the same person as stands to receive the bulk of the estate. With a Trust (one step up from a Will), it is possible to have your estate handled after your death without the need to go to court, if that is a concern, but a Trust is not suitable for all situations. See an estate planning attorney.
Answered on Feb 11th, 2015 at 5:13 PM