Wills and power of attorneys ?

IKE

IKE

Well-known Member
Location
Oklahoma....U.S.A.
For no real reason I had been putting off getting wills and durable POA's done for many years, that can now be scratched off the "to do list".......it has now been taken care of and mama and I both feel better.

Do most here already have their will and POA's in place ?
 

IKE said:
For no real reason I had been putting off getting wills and durable POA's done for many years, that can now be scratched off the "to do list".......it has now been taken care of and mama and I both feel better.

Do most here already have their will and POA's in place ?
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How did you do it Ike?? I need to..
 
My advise is go to a lawyer... that's what we did. However, if you are brave.. you can go to a website... I think "Legal Zoom" is one and do it yourself. I guess they will instruct you.
 

Ken,

First I ask my banker if they recommended anyone and they gave me a name of a lawyer firm and that firm wanted darn near $3000.00 which I thought was way out of line. I called around and prices were ranging from $1800.00 to $4000.00 for two wills and two POA's.

Then I remembered that my veterinarians (and sometimes fishing buddy) longtime girlfriend was a lawyer and that we had also met a few times and one of her specialties is estate planning.

With no kids or kin folk to worry about ours was fairly simple I guess but it still needed to be done......when the last one of us is gone we left everything remaining (home, home contents, money etc) will be split 50-50 between a local 'no kill' animal sanctuary and a local wildlife rehab center.

I don't know if I got a good deal or not by knowing her boyfriend (by comparison I did) but two wills and two POA's only ran us $650.00.

I was told by three different people that had looked into it more than I did that although cheaper the online wills and POA's aren't 100% totally legal and binding........I can't confirm that.

It will pay to shop around.
 
IKE said:
Ken,

First I ask my banker if they recommended anyone and they gave me a name of a lawyer firm and that firm wanted darn near $3000.00 which I thought was way out of line. I called around and prices were ranging from $1800.00 to $4000.00 for two wills and two POA's.

Then I remembered that my veterinarians (and sometimes fishing buddy) longtime girlfriend was a lawyer and that we had also met a few times and one of her specialties is estate planning.

With no kids or kin folk to worry about ours was fairly simple I guess but it still needed to be done......when the last one of us is gone we left everything remaining (home, home contents, money etc) split 50-50 between a local 'no kill' animal sanctuary and a wildlife rehab center.

I don't know if I got a good deal or not by knowing her boyfriend (by comparison I did) but two wills and two POA's only ran us $650.00.

It will pay to call around Ken.
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Thanks...

QuickSilver said:
My advise is go to a lawyer... that's what we did. However, if you are brave.. you can go to a website... I think "Legal Zoom" is one and do it yourself. I guess they will instruct you.
Click to expand...

Thanks...I have heard of them and a friend also recommended them..
 
My wife and I did this last year. I work for a law firm, so we got one of the associates to do the work. It was more complex in our case because we also set up a trust for my son and grandkids. We did a will, healthcare proxy, durable power of attorney and advanced healthcare directives. We set up a trust in such a way that if my wife and I were to both go at the same time, my son would not get his inheritance all at once. It's doled on in installments, but the trustee has the power to advance more at her discretion for things like medical expenses, education, etc. It was a long process, but so glad it's behind us.
 
We did ours several years ago....Wills, Powers of Attorney, Medical Powers of Attorney, etc., etc. We also had the "conversation" with the kids, such that when we approach our end, all we want is sufficient pain killers, if needed, to make the passage as comfortable as possible. We would far rather leave something for the kids/grandkids, rather than see our life's work all go to the Health Care Industry.
 
In the US, most places have a Senior Citizens' Law Center or something similarly named. These places have VERY reduced rates for things such as wills, POAs, transfer on death deeds, etc. That would be the first place I'd go.

You need to be careful with the legal web sites, because most states have a particular way in which wills must be executed and number of witnesses and notary, etc. Improper execution could void the will. Just be sure you know what you are doing.
 
We had ours done about 2 years ago. Wills... Durable Power of Attorney... Living Will. Our local hospice does this free of charge. All they ask is a donation to the hospice for this service. We made copies and gave to each of the kids. Then, we put the originals in our safety deposit box.
 
Grumpy Ol' Man said:
We had ours done about 2 years ago. Wills... Durable Power of Attorney... Living Will. Our local hospice does this free of charge. All they ask is a donation to the hospice for this service. We made copies and gave to each of the kids. Then, we put the originals in our safety deposit box.
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You might want to reconsider the safety deposit box. Here, the law office I worked for told people not to do that because no one but you can get into the safe deposit box to get the wills out until the will is probated, so you can get into a catch-22. Our law office always kept the originals in our own safe file, or advised clients to keep them in a safe at home or give to a relative. Every state has different rules, but check it out.
 
Our daughter has POA for both of us and is an executor and her signature has been registered with the bank so that she can access our locked bag when she needs to, prior or after our deaths. The original wills etc plus the deeds to the house are in that bag. So are our original birth and marriage certificates and some other papers of significance. She won't have to go hunting for them.
 
My advice is you must go to a lawyer who have the keen knowledge about your case you can understand your problem and help you to take out a proper decision. You can even try some online websites they can guide you.
 
I have a Death Drawer in my filing cabinet with all documents necessary to facilitate my transition to the next world if necessary. My kids didn't want to hear about it in the past but they are paying more attention now as they have seen others in my age group pass...
 
I have a Death Drawer in my filing cabinet with all documents necessary to facilitate my transition to the next world if necessary.

My Dad too, when he first showed me it several years ago I cringed. But eventually I downloaded medical directives for me and hubby. I'm making sure both sons have copies...sobering stuff filling those out. We don't have a great deal in money or property so I don't think we need a lawyer.
 
Having worked for law firms for many years I urge anyone at any adult age to get legal documents prepared and executed. If you die without these documents your assets can be tied up in the legal system for a very long time keeping all your wishes at a stand still and your loved ones having to pay the price for you not acting on this obligation. And if you have any heirs that disagree then the process will be delayed longer and the expenses of all this will be deducted from what could go to your heirs. I also recommend a Medical Directive document which states your desires if you become incapacitated which will alleviate your loved ones from having to make a life or death decision for you. It is my opinion that you see an attorney and one that specializes in estate planning.
 

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