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Re: Wills, planning, etc
Old 05-05-2005, 01:34 PM   #21
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Re: Wills, planning, etc

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Originally Posted by th


Martha - my understanding of this s/w is that its not just forms, but gives you all the info, asks a bunch of questions and then fills the forms in for you based on your answers. Besides the s/w is a book with more detail in it.
Because I haven't read the book or reviewed the software, I can't speak much more to this. The issues probably are that a question/answer system cannot account for all variables and can't predict what you might need outside of a will. But heck, it might be just fine for your situation.
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Re: Wills, planning, etc
Old 05-05-2005, 01:42 PM   #22
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Re: Wills, planning, etc

I just wanna say where the money and property goes, who takes care of him if we're gone, that neither of us wants to be kept alive by a machine if the prognosis isnt good, and who has our power of attorney if we're disabled or gone. Pretty basic stuff. No ex-wives, no huge extended family who will contest anything, no bad people or weirdos we want to "cut out" of anything.
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Re: Wills, planning, etc
Old 05-05-2005, 03:01 PM   #23
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Re: Wills, planning, etc

Quote:
Originally Posted by th
I just wanna say where the money and property goes, who takes care of him if we're gone, that neither of us wants to be kept alive by a machine if the prognosis isnt good, and who has our power of attorney if we're disabled or gone. Pretty basic stuff. No ex-wives, no huge extended family who will contest anything, no bad people or weirdos we want to "cut out" of anything.
Well then, just a couple more thoughts. First is, in the unlikely event you and your DW both die, you mentioned appointing a guardian for Gabe. The guardian will care for Gabe, but at 18 he would get all the money/assets. You might think about having the assets go into a trust for him if you both die, to pay out at whatever age you think is appropriate. I know if I had your bucks at 18, I would have had a fine party. Often it is better to have a bank than a person be the trustee because oddly enough it is often cheaper. The bank won't have to hire accountants, lawyers, etc. And no ackward family situations either--"but aunty, I neeeeeeed that Suzuki Hayabusa!"

Another point is that a power of attorney is only good so long as you are alive. After you a dead, it is a worthless piece of paper.

I am sure there are more thoughts that I haven't had! Good luck.
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Re: Wills, planning, etc
Old 05-07-2005, 03:36 PM   #24
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Re: Wills, planning, etc

Thanks Martha, you rock! I had not thought of the incompetent
problem. We are modifying the plan to show my trust as 50%
beneficiary and my brother as the other 50%. That solves the
problem for me ..... I will work with my bro to get him to set up
a trust as well.

Cheers,

Charlie
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Re: Wills, planning, etc
Old 08-03-2006, 09:12 PM   #25
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Re: Wills, planning, etc

A word of warning.

I used this willmaker software to successfully put together a will for my dad. That went well, he took the output to a retired lawyer he golfs with and he said there was nothing more he could add, go get it signed.

However, we did ours and then shelved it pending the resolution of some key issues, like who was going to be gabes guardian and who was going to take care of the money...the ideal people to do that were two different people, and they just fell into a family squabble around the time we were doing the will. Thought it'd work itself out, but it got worse so we decided to pick different people.

In the meanwhile, I scuttled our old computer and bought a new one.

Heres the fun part...you can install this 2005 software but after the end of the calendar year for this product it no longer applies any updates from the makers web site. Without the updates, the basic un-updated software will not open a file created by the updated s/w.

No amount of prying would get the maker to either fix the file so I can read it, or give me the updates. "The newest legal stuff is in the 2006 version and you have to buy that one". Wow, they're part of Quicken...what a surprise!

Basically I understand their argument, but the difference in the document between what I would have printed and executed six months ago and what I wanted to print and execute today is the same. I doubt enough legal changes have taken place that would render the output no longer useful or even mildly impaired. I could see cutting off 2-3 year old product or one that the maker knows has significant legitimate legal deficiencies. Not a 2005 product cut off in february of 2006. I guess you're screwed if you got this as a christmas present and didnt get around to installing it for a month...

Just a scheme to keep scrounging more money out of you every time you want to print out a document or make a small change.

:P :P :P

Thanks, but I'll dredge up the old hard drive from the old PC, scrape the updated s/w off of it and do my own 'update'.

Another decent product screwed up by a bad decision and bad customer service.
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Re: Wills, planning, etc
Old 08-03-2006, 10:24 PM   #26
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Re: Wills, planning, etc

Right. Aren't you the guy with a $5 million net worth and more coming in every second.

Go see a lawyer. We paid $1200 for a package of the the 4 biggies for 2 of us.
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Re: Wills, planning, etc
Old 08-03-2006, 11:00 PM   #27
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Re: Wills, planning, etc

Funny DW and I were talking about doing ours too. Cripes how hard is it to make something that says I give all my stuff to you and you give all your stuff to me the end. Lawyer time I guess.
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Re: Wills, planning, etc
Old 08-03-2006, 11:06 PM   #28
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Re: Wills, planning, etc

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Originally Posted by LOL!
Right.* Aren't you the guy with a $5 million net worth and more coming in every second.

Go see a lawyer.* We paid $1200 for a package of the the 4 biggies for 2 of us.
Hey, CFB spent a lot of cash on new cars this year, give him a break.
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Re: Wills, planning, etc
Old 08-04-2006, 12:04 AM   #29
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Re: Wills, planning, etc

I ran onto a similar problem with other software. Just reset your computer clock to the old date.
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Re: Wills, planning, etc
Old 08-04-2006, 12:50 AM   #30
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Re: Wills, planning, etc

Quote:
Originally Posted by Cute Fuzzy Bunny
I got the 2005 and it'll cost me $28 after rebate from buy.com

Martha - my understanding of this s/w is that its not just forms, but gives you all the info, asks a bunch of questions and then fills the forms in for you based on your answers.* Besides the s/w is a book with more detail in it.

I'm not setting up any trusts or anything at this time.* I just wanted to placeholder a will, medical directives, power of attorneys and the basic stuff like that.* Been pondering it since we knew Gabe was coming along.

Once thats in place I can move to do the heavier lifting later.
Why in the world do you want a will. You're clearly too evil to die.
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Re: Wills, planning, etc
Old 08-20-2006, 12:47 PM   #31
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Re: Wills, planning, etc

We went over my Mom's will last week with her. It's a good thing that we did it while she was alive. A lot of "no, that's not at all what I meant." For example, in one paragraph it said "...and anything left over will go to Sister 1..." She said, "No I meant that anything left over should be distributed to the others by Sister 1."

There was no mention of what to do with the body, and no accomodations for circumstances that change after the will was made. For example, $11,000 to x, $2,000 to y. But what if there is only $7,000 left?

It's a total mess up, but luckily the estate is small. I think the lawyer, who, it turns out is a very good friend of my sister's, should not be allowed to create wills. My guess is that he's never done it before. I recommended that it be redone.

Bottom line: I have a newfound respect for the complexity of wills, and the importance of doing it right so as to avoid bad feelings and squabbling. I see now that a will has to foresee all the possible changes that may occur between the signing and the dying.

I'd choose a good will program over a bad lawyer, but a lawyer specializing in wills is what I'll use if we ever redo our "Willmaker" will.
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Re: Wills, planning, etc
Old 08-20-2006, 01:29 PM   #32
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Re: Wills, planning, etc

My wife and I just had our wills done. We were married almost 1 year ago, but have been together since late 1996. Once we had the baby we got into gear.

I took advantage of our local JAG officer and had him draft up wills, power of attorneys, health care PoA and living wills. Nothing complex since neither my wife or I were married before or had children.

When my dads cancer came back the third time, he and my mom went from the Docs office to an estate lawyer and took care of everything.

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