Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-22-2011, 09:44 AM   #41
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,969
If if makes you feel any better, I didn't have a Will until I was 40. Went to a local attorney in 1994, it cost us about $300 ($150 ea). I would recommend you use an attorney first time, it would be awful if your Will was somehow void.

I wanted to update it (subtle changes, really just a larger estate), just marked up a copy of my old will with changes, hoping new attorney would give us a break. Of course he wanted to change everything and charge us $1200 ($600 ea) in 2010. We declined, will wait until we move since laws there will undoubtedly be just different enough that we have to use an attorney (insert your own sarcastic comment here if desired - however there are some attorney's, including here, I certainly respect).
__________________

__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-22-2011, 10:01 AM   #42
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,878
Quote:
Originally Posted by Midpack View Post
..........
I wanted to update it (subtle changes, really just a larger estate), just marked up a copy of my old will with changes, hoping new attorney would give us a break. Of course he wanted to change everything and charge us $1200 in 2010. We declined, will wait until we move since laws there will undoubtedly be just different enough that we have to use an attorney (insert your own sarcastic comment here if desired - however there are some attorney's, including here, I certainly respect).
You bring up a good point. I wonder what the difference is between a $150 and a $1200 will. And, what is the real assurance that a will is valid? You won't be there to find out and the lawyer that drafted it probably won't be either. Don't lawyers just use software to generate a will guided by their informed input?

These are sincere questions, I'm not trying to pick a fight with the lawyers here.
__________________

__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 01-22-2011, 12:18 PM   #43
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,429
Quote:
Originally Posted by travelover View Post
You bring up a good point. I wonder what the difference is between a $150 and a $1200 will. And, what is the real assurance that a will is valid? You won't be there to find out and the lawyer that drafted it probably won't be either. Don't lawyers just use software to generate a will guided by their informed input?

These are sincere questions, I'm not trying to pick a fight with the lawyers here.
The difference is $1050. As to assurance, none.

You need to know enough to judge for yourself. I like the idea of using NOLO sw (and other web products), then taking the suggested documents to an attorney for review.
__________________
MichaelB is online now   Reply With Quote
Old 01-22-2011, 12:19 PM   #44
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,082
Quote:
Originally Posted by MichaelB View Post
I like the idea of using NOLO sw (and other web products), then taking the suggested documents to an attorney for review.
This is what we did.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-22-2011, 01:27 PM   #45
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
Wahoo,
Did the lawyer find that much difference in a Texas will prepared by Nolo?
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Old 01-22-2011, 01:29 PM   #46
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,082
Quote:
Originally Posted by Rustic23 View Post
Wahoo,
Did the lawyer find that much difference in a Texas will prepared by Nolo?
Nope. He said he could make a few changes to justify his fee, but the document was fine as written.

Our wills are very simple, no trusts, etc. I think 'software wills' are fine for the basics but I wouldn't use them for anything beyond that.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-22-2011, 01:32 PM   #47
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,373
I think another reason to go to a lawyer to draw up a will is that you then have a resource for when the will needs to be dealt with (there's a euphemism for you). DD I think is the executor named in our wills, and she will surely go to an attorney in getting the estate settled. The lawyer who created our will is also experienced in settling estates.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 01-22-2011, 01:34 PM   #48
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,082
Quote:
Originally Posted by Bestwifeever View Post
I think another reason to go to a lawyer to draw up a will is that you then have a resource for when the will needs to be dealt with (there's a euphemism for you).
That's fine, but I plan on outliving the atty we used to review ours.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-22-2011, 01:37 PM   #49
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,878
Quote:
Originally Posted by MichaelB View Post
The difference is $1050. As to assurance, none. .........

Thanks, I feel better now.
__________________

__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Where do I start? m444rk Young Dreamers 5 06-05-2009 12:49 AM
A New Year/A New Start Dog FIRE and Money 9 01-11-2009 01:01 PM
Where to Start Otis Young Dreamers 25 07-01-2005 11:27 AM
How to get off to a successful start... Ptolemy FIRE and Money 18 10-04-2004 10:28 PM
Hello and where to start newellcr Hi, I am... 1 08-27-2003 08:19 AM

 

 
All times are GMT -6. The time now is 11:23 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.