Will or Living Trust?

[Fedup]

I did not know that you could do TOD for real estate, but in many states, you can still do a handwritten or holographic will. See https://en.wikipedia.org/wiki/Holographic_will and verify the requirements for your state.

"The following states recognize holographic wills made within the state, though witnessing requirements vary: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Idaho, Kentucky, Louisiana, Maine, Michigan, Mississippi, Montana, Nebraska, Nevada, New Jersey, North Carolina, North Dakota, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, and Wyoming."

I was thinking of doing a Nolo version for her will, but I need to go somewhere for two signatures. Any suggestion?

 

[Brat]

You really need to find two signators who you have some hope of finding if the will is challenged.

 

[meierlde]

You really need to find two signators who you have some hope of finding if the will is challenged.

Your attorney should be able to tell you if your state allows self proving will. This involves the witness signing an affidaviat that they saw the will signed. It appears that most states allow this and the attorney should attach the proper language to the will. (all states but DC, Ohio, Maryland and Vermont)

 

[TrvlBug]

DH and I just got back from out of state dealing w/MIL's sudden and unexpected passing. She had a will but no trust, however, we were able to avoid probate because she had worked with her atty to title everything to avoid probate. IRAs and life ins policies had beneficiaries, checking, savings and safe deposit box were either jointly owned or titled as POD and/or TOD. Real estate (2 homes) had beneficiary designations filed with the county. All personal property directed to DH with some specific bequests. Easy peasy.

 

[Brat]

It is rare that a person is that through. Kudos to her attorney.

 

[523HRR]

Compared with a will, a revocable trust is also helpful for contingency planning in the event of your incapacity.

 

[TrvlBug]

Compared with a will, a revocable trust is also helpful for contingency planning in the event of your incapacity.

She had financial and medical POAs drawn up by the atty. They were very detailed including DNR instructions. They provided for everything we needed during her incapacity before her passing. For her, the will and POAs were sufficient; for others it may not be and a trust may be called for.