Do we have to have a will if it is stated on everything we have, ie: IRA's, house, etc, that the one who doesn't die is the beneficiary of everything? Since I have never seen it stated anywhere that one doesn't need a will, I think that I must be missing some information regarding this issue. I realize that there is always the possibility that we may die at the same time, but for us, it seems unlikely.
2007-06-20 05:41:30 · 9 answers · asked by misscheevious4u 1 in Family & Relationships ➔ Marriage & Divorce
In "progressive" California, a will won't stop everything from sliding into probate.
Your best bet is to get a Living Trust. A good one should include power of medical and financial attorney, and include a Will.
Probate will end up taking up to half of everything, not to mention the costs of the attorney.
My grandparents both had Living Trusts...and everything went smoothly after they died and stayed far away from the greedy government probate courts.
2007-06-20 05:53:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The will supercedes most of these testaments when the will is done legally. You never know, a person may have a secret child somewhere that he is not prepared to put it in those IRA forms, etc. And couples do get divorce and many of these documents don't get updated in time. Again, the will gives instructions of what to do under those circumstances.
The spouse may not see the will if the person wants to keep it private until after his death.
2007-06-20 05:53:24 · answer #2 · answered by Sir Richard 5 · 0⤊ 0⤋
Get a will drawn up and filed. Dying intestate (without a will) can be really problematic when trying to sell a house, retire debts, collect insurance etc. because the State will step in and claim its share etc. - and let's not go on about long lost cousins or unbeknownst surprise children who can come and to claim a share. It's just better that way. Spend the $$ with a lawyer and have one drawn up and filed.
2007-06-20 06:55:03 · answer #3 · answered by Barbara B 7 · 0⤊ 0⤋
it is always a good idea to have a will made up and keep modifying it as time passes. We are a young couple been married for 10 years, we have put a will together. Our reason for putting it together was not for what if she dies or I dies, but it was more for the purpose of, what if we both pass way what will happen to our kids. Who will become their legal gaurdian and how our estate will be handled. Hope this helps.
2007-06-20 05:57:35 · answer #4 · answered by jimmy.parker06 5 · 0⤊ 0⤋
Put everything in a living trust, it keeps the courts and probate out of the picture for the most part. I also believe it protects your assets if you get sued, although not positive on that last part.
2007-06-20 05:52:02 · answer #5 · answered by nuclearnads 2 · 0⤊ 0⤋
if i were you two yes .better to be safe than sorry ....just because you r married doesnt make it his or yours ..my late husband and i thought okay if one of us passed wed be okay with all the red tape stuff not the case just because you r married means nothing his family or yours can step in and say something else then you will have to fight and its not a good thing to go through... take it from someone who knows it sucks ..
2007-06-20 08:26:05 · answer #6 · answered by pepsifan62003 2 · 0⤊ 0⤋
It would depend on if you have children. Also normally it would go rot the spuse if both names on on there and stated and/or with both names. If not then the state can lock up evrything
2007-06-20 05:47:52 · answer #7 · answered by humble servant 2 · 0⤊ 0⤋
You don't NEED a will, but assets are frozen until the estate is settled, so to speed things up, a will would help.
2007-06-20 05:44:54 · answer #8 · answered by Anonymous · 0⤊ 0⤋
One name Terri Shivo. I may have not spelled it right but look it up online. Last rights if your not able to care for yourself.
2007-06-20 05:46:37 · answer #9 · answered by GB 2 · 0⤊ 0⤋