Do it yourself wills

[Martha]

So is no will better than a cheapo will?

(BTW we have an attorney-prepared will for our simple situation--DH gets mine, I get his, grownup kids get ours, daughter gets to pull the plug)

My favorite lawyer answer: it depends.

What is the law in your state for how assets pass when you die with no will? How many assets are held joint? Did the cheapo will do what should be done? Was it properly executed?

 

[freebird5825]

My favorite Executor and Alternate Executor answer :
Your beneficiaries shall reap only what you sowed.

If you used good seed, the crops will be fine.
If you used cheap or outdated seed, there will be missing spots in the garden row.
Remember - a will is a one time planting deal if it is needed today, or tomorrow, or even next week.
Grim? maybe
Realistic? definitely

 

[harley]

If you have IRAs and such that might be part of your estate, especially if your estate might flirt with the death tax, I would recommend reading some of Ed Slott's books on protecting your money from the IRS. After I read it we were talking with our estate planning lawyer. I mentioned a few things I had read, and he wasn't aware of them. He checked into it and told me later I was right. I'm thinking of finding a different lawyer, but maybe I'll just buy him a copy of the book. But my point is, it's always better to have some knowledge yourself so you can tell if the expert is blowing smoke.

 

[roger r]

I reallly appreciate all of this good information! I'll be printing it out for a couple of reviews. It doesn't look like the DIY route is the way to go, but maybe using some of the prepared forms would be a help in preparing for a visit to a lawyer.

 

[OAG]

Anyone have any experience with "Legal Zoom dot Com"? LegalZoom: Online Legal Document Services: LLC,Divorce,Wills,Incorporation & More.

I think they charge $69 for a "simple" will (wonder how many of those "simple wills" exist).

 

[chinaco]

Nope.

IMO - Use a competent attorney. Those cost of having wills, power of attorney, etc setup is minimal (in the scheme of things). The risk of making a mistake is too great (if you own anything). Plus an attorney will be on the look out for changes in the law that might affect you, your estate and your heirs.


Pay the toll!

 

[Goonie]

Indeed, I think a greater disaster would be to die without a will, leaving the disposition of your estate solely to the discretion of the courts.

Or maybe worse than that...to the discretion of the family, if there's basically nothing but personal affects.

My aunt passed away about 2 years ago, without a will. She add very little cash saved or tucked away....basically just enough (almost) to pay for her funeral costs. Her only other assets consisted of personal belongings (knic-knacs, some old furniture, kitchen stuff like pots & pans & that sort of stuff, some small appliances, and clothing).

After the funeral, all of her relatives went to her apartment to begin the process of sorting through everything, and cleaning out the apartment. It was like a pack of blood-thirsty, ravenous wolves attacking a herd of one-legged defenseless sheep.

My Mom and I stayed just long enough to pick out a couple of pictures of my Mom and aunt together, and a couple of small knic-knacs. The 'feeding frenzy' was just to gruesome to bear, so we left rather quickly. When we went down to our car, my cousins were on the sidewalk fighting over my aunt's stuff...yelling and grabbing stuff from each other (a real pretty sight).....as they stuffed their cars full to overflowing with anything and everything they could get there grubby mitts on.

If there had at least been a simple will, then everyone would have received exactly what she wanted each one to get. As it was, the relatives grabbed up whatever they wanted, regardless of whether my aunt wanted someone else to have it....as she had stated while still alive. Fortunately for Mom and I, we didn't want or need any of her belongings....other than the couple of pictures and a couple of little cheapo knic-knacs that my Mom wanted as keepsakes.

I hope to never see that situation again!!! EVER!!!


----------------------------------------------------------
And this wasn't even on the redneck/hillbilly side of my family! These were the supposedly 'civilized' and edjukated relatives!

 

[freebird5825]

My aunt passed away about 2 years ago, without a will...After the funeral, all of her relatives went to her apartment to begin the process of sorting through everything, and cleaning out the apartment. It was like a pack of blood-thirsty, ravenous wolves attacking a herd of one-legged defenseless sheep.
...my cousins were on the sidewalk fighting over my aunt's stuff...yelling and grabbing stuff from each other (a real pretty sight).....as they stuffed their cars full to overflowing with anything and everything they could get there grubby mitts on...I hope to never see that situation again!!! EVER!!!

OMG...how pathetic. you and Mom were very smart to leave.
after my mom passed, i was put in charge of doing this job at my mom's small apt. i took several old suitcases and divvied up little things equally - christmas ornaments, pictures, small keepsakes, etc. i did the job solo over 2 days, then my brother and my LH did the heavy stuff when LH flew in.
a sister finally drove down 1 day later and, sure enough, had "something to say" about how we did things. i just ignored her and put one suitcase in my car trunk. she and brother commenced to a full scale argument. it was disgusting to hear.
LH and i left and got a bite to eat. sister was gone when we returned TG. we gave the rest of my mom's things to the apt bldg thrift store and goodwill, as she had requested us to do.
my attorney called this "picking over the bones".

 

[Goonie]

a sister finally drove down 1 day later and, sure enough, had "something to say" about how we did things. i just ignored her

I have one sibling who will be like that....unless she changes drastically, which I highly doubt! She won't be happy with anything....never has been. Fortunately EVERYTHING is in writing, by an estate attorney, and notarized!

My other sibling will be no problem at all...never has been....just like me!

Each of them can have anything of Mom's personal belongings that they want after she's gone....except the Lazyboy recliner (I'm keeping that!), and a diamond ring that I got for her a few years ago because she really liked it, and would never have spent that much money on herself.

Two of us kids will be sad that our Mom passed away.....The other will only be sad because they didn't get enough of her 'stuff'.

my attorney called this "picking over the bones".

Yep, that's exactly what it was like.

 

[Bestwifeever]

Goonie, I hope your mom's will specifies the ring goes to you.

 

[freebird5825]

I have one sibling who will be like that....unless she changes drastically, which I highly doubt! She won't be happy with anything....never has been. Fortunately EVERYTHING is in writing, by an estate attorney, and notarized!
My other sibling will be no problem at all...never has been....just like me!
Each of them can have anything of Mom's personal belongings that they want after she's gone....except the Lazyboy recliner (I'm keeping that!), and a diamond ring that I got for her a few years ago because she really liked it, and would never have spent that much money on herself.
Two of us kids will be sad that our Mom passed away.....The other will only be sad because they didn't get enough of her 'stuff'.

so, after seeing 2 real life stories told here...and i spared you the ordeal i went thru with LH's family over things he owned while alive...

are there any questions from the audience how important it is to have fully LEGAL (in YOUR state, not generic boilerplates) wills and specific bequests IN WRITING?

as my attorney, who is now a supreme court judge, said...
"pickin' over the bones"
people will and do change in these situations...i've been through it twice now.

 

[travelover]

.........
are there any questions from the audience how important it is to have fully LEGAL (in YOUR state, not generic boilerplates) wills and specific bequests IN WRITING?..........

Just one - how much are the lawyers paying you ?

LMAO

 

[Martha]

There are many lawyers who include as part of the will the option of the person to make a list of personal belongings and who they go to. This list will be part of the will. Unfortunately, many fail to make the list. It is surprising the bad feelings that can arise regarding things of little value. So make the list OR put a mechanism in place for how these things will be divied up.

 

[Goonie]

Goonie, I hope your mom's will specifies the ring goes to you.

I'm the only one of the kids that knows she has it....and where she keeps it. Besides....I have the receipt for the ring, with my signature on it! Plus, I'll tuck aside a couple of Mom's nicer pieces of jewelry for the nieces....to be sure they get something other than pushed out of the way by a parent.

My siblings are each 600-900 miles away, and it will take them some time to make their arrangements to get here....and they won't just 'drop in'....heck, they haven't even come to visit Mom since our Dad died 9-10 years ago....they're too busy at the daily grind trying to keep their heads above water....can't afford vacations! It must kinda suck for them to be older than me, and still have to slave away like that!

 

[freebird5825]

Just one - how much are the lawyers paying you ?

LMAO

make me an offer...