DO I Need A Will?

A

ancient mariner

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I saw on legalzoom.com:
Estate Plan Bundle w.Attorney Advice $149.00

or

Just The Last Will


and

Living Trust $299.00
 

What do you have to leave? Do you have children? Are you married to Old Mack? If you have anything you want distributed on your passing,being monetary or chattel, a will is the only way to ensure that the right people are getting the right things.
If you and "Old Mack" are married your things would pass to him seamlessly unless otherwise directed.
 

Unless you are not up, at all, on legal matters, making your own will is easy. I have to say that I write contracts, in my profession, and have been doing so since I was twelve, but writing a will is fairly straightforward.

A crucial part: Get it notarized (you might consider having a witness sign it, as well), seal it, put tape on all seams and edges of the envelope, put a directive on the outside that the envelope should only be opened by a licensed probate attorney, put ink pad stamps all over where the tape meets the paper of the envelope, for security, to show it hasn't been opened/tampered with, since you sealed it.

File it somewhere where your executor knows, or give it to your family attorney, for safekeeping. I'm not a lawyer (legal disclaimer).
 
I recently talked with my cousin who is a lawyer in this state. His feeling is that it would not hurt. Especially if you have family who would fight a bot over what you have. My husband and I are going to re-do ours. We did our first wills before we were married. We married later in life, so we have no children, and no kids from prior relationships either. We are far from wealthy, but we do have a few material things we want to make sure certain folks get.
I am lucky to have a lawyer in the family, but if you have one you trust, have a talk.
 
as robusta pointed out if you have anything of value to leave to someone it's best to have a legal document specifying what you want to have happen. the kindest thing you can do is to remove the real possibilty of heirs arguing over who gets what.
 
If you have a house, a bank account, retirement savings/investments or any valuable possessions and if you have more than one immediate family member (children, siblings) then a will is absolutely necessary. You don't need Old Mack's permission to make a will.
 
We had our own ‘homemade will’ but last fall redid it and now have a Family Trust. Cost the same as a will by an attorney cost, about $1,000. My husband has a terminal disease and he wanted everything in order so I wouldn’t have any issues while alone on top of dealing with his death. In both our opinions, money well spent.
 
treeguy64 said:
Unless you are not up, at all, on legal matters, making your own will is easy. I have to say that I write contracts, in my profession, and have been doing so since I was twelve, but writing a will is fairly straightforward. A crucial part: Get it notarized (you might consider having a witness sign it, as well), seal it, put tape on all seams and edges of the envelope, put a directive on the outside that the envelope should only be opened by a licensed probate attorney, put ink pad stamps all over where the tape meets the paper of the envelope, for security, to show it hasn't been opened/tampered with, since you sealed it. File it somewhere where your executor knows, or give it to your family attorney, for safekeeping. I'm not a lawyer (legal disclaimer).
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Laws vary widely state by state on what is required to make a will legally binding. My state doesn't require anything like that envelope stuff you are talking about, but we do have particular rules about how many witnesses, who they can and cannot be, how they must witness, etc., and the notary. Some states still require that a will be recorded with the county clerk to be valid. Mine does not. The only way you can be sure you're doing it right is to find out what your local laws are and meticulously abide by them.

Some states, mine included, have made it easy to transfer title to real estate to an heir without requiring probate via what's called a transfer on death deed. There are also ways to transfer bank accounts, etc., in much the same way, but again this varies from state to state to state and what works where I am might or might not work where you are.

I'm not a lawyer, either, and very strongly recommend at least checking with an attorney -- most states have a Senior Citizens' Law Office where you can get advice and direction and also get a will done if you decide that's the route you want to take, for a greatly reduced fee. Don't try to do it yourself if you don't know what you are doing. Here, if you don't check all the boxes regarding what makes the will valid, you run the risk of invalidating the whole thing.
 
Here is an example of the pitfall left behind of not having a will.

I have looked at a mobile home that I would be interested in buying but the gentleman passed away without a will.

The Spring selling season is here but the home cannot be put up for sale until a judge decides how assets will be divided amonst the siblings and this can take a long time.

Meanwhile park rent and taxes go on being paid to the tune of over 500 a month and knowing that the place is vacant it could become a burglary target.

Not to mention that if this goes on much longer a summer or fall sale will result in a lower sale price.

Write a will and save your loved ones the headache
 
Butterfly is quite right. ALWAYS know what your state laws are regarding wills before taking anybody's advice, especially free advice on an anonymous forum. With the best intentions in the world, you cannot assume what is true in one state is valid for another.

In our state NO notary is required. What is required is two witnesses who are not named in the will, to witness it.

Also, of even more critical importance these days, is to have a durable healthcare power of attorney as well as the POLST form, with copies made (your doctor should have one set, you should have one, a spouse should have one, and separate copies for the healthcare agent and successor agent).
 
Lethe200 said:
Butterfly is quite right. ALWAYS know what your state laws are regarding wills before taking anybody's advice, especially free advice on an anonymous forum. With the best intentions in the world, you cannot assume what is true in one state is valid for another.

In our state NO notary is required. What is required is two witnesses who are not named in the will, to witness it.

Also, of even more critical importance these days, is to have a durable healthcare power of attorney as well as the POLST form, with copies made (your doctor should have one set, you should have one, a spouse should have one, and separate copies for the healthcare agent and successor agent).
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And my state requires two witnesses, who cannot be beneficiaries, to witness in the presence of a notary and in the presence of each other (IOW, everybody's got to be in the same room at the same time).

Lethe, what's a POLST form?
 
I have pay on death on my bank accounts, stock accounts etc, so things pass directly to my girls. I am now going through books, all possessions and keeping only the Waterford crystal and other things that bring me pleasure. Keeping and using the china and crystal now that I once had on display. The girls can do what they want to with it. The grand girls have expressed a desire to have it so there you go. Asked for everybody to get me gift cards to Kroger and Walmart for my birthdays and holidays and nothing to dust. Have several things at consignment shop and all clothes except for a few pieces to wear now and to Church off to Goodwill and the Salvation Army.

Still have a few more things to go through for a pickup from the Salvation Army. I have a medical power of attorney and the girls have copies. Made arrangements to be cremated and is paid for. Scatter me over the beach. The girls did not like it but I do not care. One said where are we going to visit you and I said "Hell you don't visit now, so why would you visit after I am dead. Visit me now while I can enjoy it" They can't say much as they are all involved with their own dramas etc. with the grands!
 
terry123 said:
I have pay on death on my bank accounts, stock accounts etc, so things pass directly to my girls. I am now going through books, all possessions and keeping only the Waterford crystal and other things that bring me pleasure. Keeping and using the china and crystal now that I once had on display. The girls can do what they want to with it. The grand girls have expressed a desire to have it so there you go. Asked for everybody to get me gift cards to Kroger and Walmart for my birthdays and holidays and nothing to dust. Have several things at consignment shop and all clothes except for a few pieces to wear now and to Church off to Goodwill and the Salvation Army.

Still have a few more things to go through for a pickup from the Salvation Army. I have a medical power of attorney and the girls have copies. Made arrangements to be cremated and is paid for. Scatter me over the beach. The girls did not like it but I do not care. One said where are we going to visit you and I said "Hell you don't visit now, so why would you visit after I am dead. Visit me now while I can enjoy it" They can't say much as they are all involved with their own dramas etc. with the grands!
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I did the same thing with all my accounts and house, with the goal of avoiding unnecessary and expensive probate.
 
one of the drawbacks to any living or revocable trusts is while they avoid probate , they unprotect the house as an asset exempt from being calculated if medicaid is ever needed .

only homes held in individual name are not counted as an asset up to a very high number as far as qualifying for medicaid long term care .

once in a trust the homes entire value counts and you have to sell the house , spend the cash down in order to qualify .

so before doing things with trusts you need to talk to a knowledgeable attorney .
 
I've done the same as you, Terry, but I also have a simple will to make things as easy as possible when I pass. Check into a holistic will if you are opposed to an attorney-written one. They are legal in most states.
 
i will never understand why people take chances with things as important as wills and power of attorney forms where there are no do overs by heirs when things are not spot on . to me it makes no sense after having had 2 issues already happen with bad documents .
 
mathjak107 said:
one of the drawbacks to any living or revocable trusts is while they avoid probate , they unprotect the house as an asset exempt from being calculated if medicaid is ever needed .

only homes held in individual name are not counted as an asset up to a very high number as far as qualifying for medicaid long term care .

once in a trust the homes entire value counts and you have to sell the house , spend the cash down in order to qualify .

so before doing things with trusts you need to talk to a knowledgeable attorney .
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Terry 123 and I are not talking about trusts. We are talking about pay-on-death beneficiaries. My state also has a transfer on death deed (a fairly new thing here) where you execute such a deed which transfers the particular real property to the beneficiary immediately by operation of law upon your death and the filing of a death certificate. This deed no effect upon the ownership or either party's interest in the real property during the life of the grantor, and is revocable by the grantor at any time before his/her death, and is no way related to a trust.

I do not believe anyone should even think about venturing into a trust without a knowledgeable attorney, I would equate it with trying to take out your own appendix.
 
helenbacque said:
I've done the same as you, Terry, but I also have a simple will to make things as easy as possible when I pass. Check into a holistic will if you are opposed to an attorney-written one. They are legal in most states.
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helen, I believe you are referring to a holographic (handwritten by the testator) will; I don't believe there is such a thing as a holistic will. Also, holographic wills are NOT recognized by most states anymore.
 
Had my first will done back in the 80s, specified that my body be left to "Bay Watch" for research. :cool: Had them redone in late 90s. And had it re-done again in 2014, but now need to redo it all again.

I plan on dying broke, so I'm more concerned about medical directives, etc.
 
Butterfly said:
helen, I believe you are referring to a holographic (handwritten by the testator) will; I don't believe there is such a thing as a holistic will. Also, holographic wills are NOT recognized by most states anymore.
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Thanks, Butterfly. You are correct. 'Holographic' is what I meant but I do believe - in most states - when done correctly (fully handwritten and properly witnessed and notarized) would stand if there are no challenges. It is certainly not desirable but better than nothing.
 
i don't get why people don't take the extra step to get this as correct as they can . even if you have little money your death may be the result of an accident , a medical malpractice or wrongful death . why risk all kinds of money coming in to your estate after it is to late to do things right. as we saw when we went to refinance , as little as 1 word missing or misused can negate the entire will
 

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