I'm not married.
2006-11-25 08:55:47 · 10 answers · asked by Patrick R 1 in Business & Finance ➔ Personal Finance
Were you once married? Were you married for more than 10 years? Do you have any living relatives? In certain states if you die without a will, the state may say that half of your checking account, IRA and home are in your estate. They may have ways of dividing those halves which may not give all to your daughter.
Also, with a will, someone who contests will have much less of a chance of winning.
Be certain. Make a will.
2006-11-25 09:07:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes, most certainly you do need a will. Because she is a part owner of the assets you record, it does not mean that she inherits them upon your death. It only means that she could have a new partner in those assets if for any reason, someone comes along and contests the estate left by you.So, to make sure she receives the other half of the assets you and her both own, prepare a simple will or draw one up yourself, have it notorized by a solicitor or simply purchase a Form Will available at most business store merchants That is, a store that specializes in legal documents.
2006-11-25 17:04:55 · answer #2 · answered by Ted 6 · 0⤊ 0⤋
Yes, you need to set up an estate plan. If you don't then your assets will be under the default estate plan where you die and that is never good because of time, and expenses.
Actually a trust would be better than a will because you could escape having probate opened.
Good luck
2006-11-25 17:45:10 · answer #3 · answered by teenriodoll 3 · 0⤊ 0⤋
Yes!!!!! even if her name is on all of the accounts... you must have a signed paper stating that you want these things to be hers upon your demise. You dont have to go through the trouble of making a will.... but a letter stating your intetions.......that is notorized... is a cheap alternative. It is a lot easier to change as well... should your circumstances change or you need to add an asset.
If you dont do this ..... most of everything you have will end up the property of a probate court or lawyer,
2006-11-25 17:01:31 · answer #4 · answered by TAZZLOVER8 2 · 0⤊ 0⤋
Give her a Legally Notarized Special Power of Attorney document.
The Last Will and Testament will only be effective when you are dead... But how about the time when you are incapacitated? Like bed ridden and cannot execute anything? i.e. sign a document?
The Special Power of Attorney which you will give your daughter gives her the power to execute in your behalf even if you are still alive.
2006-11-25 17:08:28 · answer #5 · answered by Rey Arson II 3 · 0⤊ 0⤋
Yes you do. She would probably not get 100% of your assets unless you have one.
2006-11-25 17:00:50 · answer #6 · answered by Jess H 7 · 0⤊ 0⤋
Yeah. Even though things are pretty stable right now, you want to have your final wishes in writing so that there will be no question what you want done.
2006-11-25 16:58:38 · answer #7 · answered by Stuart 7 · 0⤊ 0⤋
A will is a simple document. I would do and also do the power of attorney and living will...All will be well...
2006-11-25 16:58:18 · answer #8 · answered by Patches6 5 · 0⤊ 0⤋
If you make a will nobody but your daughter will get it.
2006-11-25 17:02:12 · answer #9 · answered by Donkey 2 · 0⤊ 0⤋
i dont know but you should make one out
2006-11-25 17:01:44 · answer #10 · answered by Anonymous · 0⤊ 0⤋