Thursday, August 14, 2008

Is it possible to make a Will that is legally sound and would stand up in court without seeing a Lawyer? -

I want to have a Last Will And Testament (or whatever the proper legal term is) made for myself. It should be easy, because I want to have everything I own left to one person, who happens to be my wife. I also want to give her the power to make medical decisions about me should I be in a situation where that is necessary. I am young and healthy and (hopefully) very far from death. Is there a way to make a will that costs little or nothing, and perhaps does not require seeing a Lawyer?

You can find the templates for both of those forms on line. The will and the quot;medical power of attorneyquot; are the forms you need. You will need to have a Notary Public witness the signatures for both documents. Notary fees vary only slightly. I think about $20 for each time they use their stamp. Wills don t go to probate until the person is deceased. Sometimes not even then. If you want, you can go to legalzoom.com and get your entire will done by an attorney on line for $69 and back to you in 48 hours. They include phrasing that will cover things that you don t have now, but MIGHT someday. You can also make revisions in it for the first 30 days.

I think one of the best things you can do is get the Nolo Press wills and trusts book. If you live in California, get the California wills and trusts book. It is about $45 and will give you a lot of knowledge about whether you need an attorney or need a will at all. (You might also look for it in the library, but it is usually reserved or checked out, and some of the Nolo Press books have CDs.) In general, the more wealth you have, the more you need professional planning. (Incidentally, I do not work for Nolo Press--but I think very highly of their products. I just bought two quot;How Toquot; books on house hunting from them. There are other publishers of legal self-help if you don t like the format of the Nolo Press books.) Good luck!

Go to the Library and look up wills Make one for yourself and have it Notarized . As for money , property and such If you want your wife to have No problems you need to put everything in both of your names that way there is no contest as She owns whatever is in her Name and doesn t have to pay taxes on it. There is a thing called a Death Tax Look that up also I think you will find your reasearch Interesting to say the least

Yours is a quot;simple willquot; and you can get the forms at any Ofiice Supply store. After writing your wants and needs, have it witnessed and stamped by a Notary Public. You can find them at banks or insurance offices for a couple dollars. You would be better served to take it to the courthouse and have it Probated so there is no argument with someone else later.

Call a Notary Republic- they may be able to help you- some of them can prepare all the paperwork and send it off to an attorney for half the price then seeing an attorney in his office. They should be able to help or get you to someone that won t cost thousands of dollars- Good luck-

Yes. Be aware, though, that not all quot;boxed willsquot; are created equally. Wills and trusts laws are different from state to state. Make sure that the will that you create is in accord with your state laws.

Yes, there are many quot;Do it yourself Willquot; kits out there. Pretty much it is a fill in the blanks of your possessions, where to get it notarized and then registered properly. Not that tough.

i you are married-*** property -then no need for a will.All will become hers-assuming none other tie is left behind.

yes

Seeing a lawyer really is the best way to do this - you really don t want your wife to end up with any trouble down the road in the long run. It really isn t THAT expensive, and alot of estate planning attorneys offer free consultations... it s worth checking it out. Not only that, but a lot of people who make their own estate plans really don t know anything about it. It s more than who you want to give things to. Another document that you need to consider is a Revocable Living Trust if you want everything to automatically go to your wife. When you have one of these, your wife will be able to avoid a headache process called probate - which your Will will be submitted to the court who will distribute your assets as defined in your Will, but take out taxes from your estate first. If you have a Revocable Living Trust with your wife named as your Trustee, which become irrevocable upon the event of your incapacitation, the property will automatically transfer to her without any court involvement... no hassles from the banks, nothing. However, you still need a Last Will and Testament anyway. The other documents you were talking about are called Durable Power of Attorney. You should have two separate ones - one for financial decisions, and one for medical decisions. They offer books about estate planning at any bookstore in the legal section that offer a lot of information. However, that should not be a substitute for the education and knowledge of the law that someone who has been doing this for several years has. It would be a wise investment to let an attorney do this. A lot of legal things like this seem so simple at first, but really aren t... and it gets people into trouble later on.

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