example if you have a long term partner and have his children, he makes ahome made will, and leaves you in charge of it saying you know what my wishes are where do you stand legally, can you benefit from it?
2007-08-23 11:17:22 · 7 answers · asked by teddybear 1 in Politics & Government ➔ Law & Ethics
Yes, this is nearly always the case for a person with a family. I do a lot of Wills and typically each spouse leaves everything to the other spouse and then to children, if any. In almost every ocassion, the surviving spouse is the executor, with one of the children as first alternative. I do have to echo the answer that a home made Will is not a good idea. Wills are not expensive. Having a Will is not all there is to estate planning either. You should also have a health care Power of Attorney and a Right to Die statement (known as a "Living Will" in some states). I don't know where you live and what the rate is for lawyers in your area, but I allow an elderly couple to set their own price. If they're low income, I do it for free. The whole package in my state is about $250 at full fee.
2007-08-23 12:05:58 · answer #1 · answered by David M 7 · 4⤊ 0⤋
Yes, someone can be both an executor and a beneficiary of a will, but its generally not a good idea if the estate is even moderately large, or there are a bunch of relatives involved and/or the relatives don't get along. It really puts the executor/beneficiary in a very tough position. If the estate is big enough, the maker of the will should really appoint a disinterested third party as executor.
2007-08-23 18:54:56 · answer #2 · answered by Anonymous · 0⤊ 1⤋
The executor can be a beneficiary. That is actually common. The will should actually state what his wishes are. Failing to do so may invalidate the will entirely in some states. You may be forced to distribute the estate as if no will existed. Under your states 'intestate' rules, you are probably NOT a beneficiary, and his wishes will most likely NOT be honored.
2007-08-23 19:20:45 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
If the document is legal than yes. Of course it might not be legal, there are certain things that make a will a legal document. You can't just write "when I kick it, that ones in charge" on a post-it and expect the lawyers to accept it. Talk to an attorney, they'll tell you everything you need to know.
2007-08-23 18:24:33 · answer #4 · answered by Pyro 3 · 1⤊ 0⤋
Yes, you can. You can execute a will even if you are the prime beneficiary.
You just can't notarize a will that you benefit from (since it is a conflict of interest between professional detachment and personal greed).
2007-08-23 18:28:58 · answer #5 · answered by teresathegreat 7 · 0⤊ 0⤋
He can make anyone, including you, a beneficiary of his will. But a "home made" will is just a disaster waiting to happen. Wills don't cost that much. If it's worth doing, its worth doing it right. Tell him to see a lawyer.
2007-08-23 18:23:32 · answer #6 · answered by Anonymous · 3⤊ 0⤋
Yes..
2007-08-23 18:27:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋