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I 'd like to make a will. Do I have to hire a lawyer to do that? What is the most straightforward and least expensive way to do this?

2007-03-16 13:19:09 · 12 answers · asked by Xiaobei 2 in Business & Finance Personal Finance

12 answers

Do it yourself,
You don't need a lawyer if you keep your will simple.

"I (your name) being of sound mind and body, do on this date (the date you make the will) do hereby name (person X) to be the executor of my estate, with all power to handle my accounts and to distribute my goods as they see fit. This is my last will and testament.

Have it signed, by yourself and a witness and then have it notarized, then file it at the country courthouse in the hall of records. Keep a copy for your files; your family should have a copy, the person you name, as your executor should have a copy and any other person who could be interested in your estate.

The key to a successful will is to Keep It Simple Silly (KISS). In my case I had a lawyer draw up my will and then I looked at what he had written and realized that I could have done that myself. He didn’t' have his signature, stamp, or any other required seal to make the will valid. Once it was notarized, which had had done by someone else, it was valid.

I wanted to include some other provisions, but the lawyer said that the courts don't like it when you try to control your estate from the grave.

With this simple will there is no question of who is in charge, and you have not only told the state this, but you will have notified your family. When you hand out this will then let them air their grievances to your face, not in probate court. Then you can handle any problems before your death. This will be very important if you are married, because any of your assets and any jointly held assets can be tied up in court making it difficult for your spouse to go on.

If you want your brother to get this, your mother to get that, and so on then you can set up a guideline document where you write this all out. Include that document with your will and title it “Guidelines for How I would like my Estate to be Handled.” Then say these are only guidelines for my executor and it is up to them to determine the best way to handle things.

This way if you are in deep debt and you willed your million-dollar painting to your brother then it can be used to pay off that debt first. Of course the important thing here is that you have to trust the person who you name as your executor. If this person is the family lawyer, like you see in movies then it only makes sense to have him or her draw up the will, but it isn't a requirement. If you don't think your executor will follow your guidelines then you need to find someone else to be your executor.

Remember that this is your Last Will and Testament so it supercedes any others AND if things change, like a divorce then it will still be valid. The only way it can be broken is if the person you named as executor is somehow unable to perform the job (like if they are dead, in prison or out of the country). I handled a question where a person wondered if they had to update their will after a divorce. My answer told them that the only document that matters is the last will and testament and what it says goes.

Since you will file your copy with the Country Hall of Records then no one can claim that it was forged, or filed by someone else. Since you have kept it simple there are few ways to break it. The only way they can break it is to come up with another document that has a later date or if they can prove that you were not in sound mind or under the control of someone else. Since you are dead that is going to be hard to prove.

You should also draw up a living will, I have. A living will is a document that states your intentions if you are injured and unable to make medical decisions on your behalf. I wrote mine saying that I DID want heroic measures used to save my life, but if two doctors agree that I am brain dead and there is no chance for a meaningful recovery then I can be taken off life support. I then stated that I want my body to be donated to science. I also included a Limited Power or Attorney. If I am going to be in the hospital for a long time my family can handle my bills. That too is a very simple form that doesn’t need a lawyer to be written.

“I (your name) give (the person who will have control) the power to handle my estate and finances in the case when I am unable to due to medical reasons. Then signed and dated, with a witness’s signature and a notary’s seal. This would give the person I named the power to handle all of my affairs in case I could not. It is called a limited Power or Attorney because it limits the conditions under which they can take control and the time that they can use this control. To cancel a Power of Attorney (of any type) you simply have to notify the person that the Power of Attorney is canceled. It is best to do this in writing and if the person continues to try and use that Power of Attorney then you can send a cancellation notice to your creditors announcing that the Power of Attorney has been canceled.

One common case where a Limited Power of Attorney is needed if a spouse goes off to war and the other spouse at home has to handle their affairs. The creditors can give the spouse at home problems, especially if it involves something like a car payment that has been registered in the name of the spouse who is overseas. Of course if you are in the military then you can get all of these documents done by a JAG lawyer for free.

Now you have all your bases covered and you can do it all by yourself in one afternoon.

- Last Will and Testament: simple document that assigns an executor to handle your estate after your death.
- Living Will: a document to give a person control over your medical condition when you are unable to exercise that control.
- Limited Power of Attorney: permission to handle your affairs in case you cannot do so.

2007-03-16 14:05:59 · answer #1 · answered by Dan S 7 · 0 0

I'd suggest setting up a revocable living trust so that you could avoid probate. Even if a will is perfectly legal, you still have to go through probate which is a long (and often expensive) process. You can transfer your assets to your trust with the assistance of a lawyer who should charge by the portfolio, not per hour. This avoids estate taxes and probate and you can change things as you go along if you so desire, but you should still have a backup will. You can find will templates at http://office.microsoft.com/en-us/templates/CT101435131033.aspx

2007-03-16 13:41:09 · answer #2 · answered by Anonymous · 0 0

The most straight forward and cheapest way (in the long run) is to hire a lawyer. Good luck.

2007-03-16 13:23:06 · answer #3 · answered by Anonymous · 0 0

Go on line and get the forms and stuff for free and then complete everything and have a notary witness your signature - final cost equals about $10 to pay the notary. In your browser just type "make a will " and click on search. Look around in different sites until you find what you need and download for free. Ignore pay sites and keep looking.

2007-03-16 13:28:58 · answer #4 · answered by Anonymous · 0 0

Hi,

Google will making software.

Pick and Get Will Maker software.

Make sure you have witnesses sign before a notary public. This will make it legal.

Kindest Personal Regards,

Walt Brown
Site Build It Certified Webmaster
capecod1@capecod-beaches.com

2007-03-16 15:29:56 · answer #5 · answered by wabboc 4 · 0 0

there are attorney programs you can buyat best buy. Look on the packaging to make sure it has making a will section. Be very thorough before you finalize it. Take it to a notary public. Then keep it in a p.o. Box or safety deposit box with instructons for the bank.

2007-03-16 13:27:08 · answer #6 · answered by Pandora 3 · 0 0

You don't have to hire a lawyer. You can buy will "kits" at just about any retail outlet and office supply store. But to make your will legal you have to take it to the courthouse to be notorized and placed on file. If you don't do that, it doesn't mean anything when you die.

2007-03-16 13:22:35 · answer #7 · answered by Misty Eyes 6 · 0 0

write in out on a piece of paper and have two people witness it. it's perfectly legal.

you can buy forms and cd's at the office supply

go to the library and get a book.

or go to legalzoom.com and pay the modest fee.

not a good idea to do it yourself if you have a complicated will.

2007-03-16 13:23:00 · answer #8 · answered by chieromancer 6 · 0 0

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2016-10-18 21:15:42 · answer #9 · answered by Anonymous · 0 0

you can go to an office supply store and get kits-- just buy one- and fill it out. I think i got mine for 15 or 20 bucks.

2007-03-16 13:23:22 · answer #10 · answered by Anonymous · 0 0

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