How can my wife and I have a good will done inexpensively.?

Question

My wife and I need to have a will drawn. How is the best and least expensive way to have this done.?

Answer 1

Up here in Canada (and I have researched this extensively, so check before you start bashing me please) you can HAND WRITE a will that states your intentions clearly and concisely. You must date it. It is best to have it witnessed by a disinterested party (such as a neutral neighbour) who has not been mentioned in it.

And then you leave clear and concise directions to it, letting people know that it is your wish that THIS WILL contains the final instructions on how to distribute your property.

You and your wife should write up separate wills, making each other your sole beneficiary if you predecease the other. After that you can direct who gets what if your partner dies before you.

It is important that the will be completely HAND WRITTEN by you, and that it is dated and signed. Presently witnesses to the signing are not necessary, but are recommended.

I suggest that you do extensive internet searches for the rules in your state. They may be completely different from others, and only careful checking will tell you this.

Answer 2

If you will leave an estate of any substantial value you need an attorney to help you. Don't underestimate the value of that estate including items of minimal monetary but important sentimental value. Each state's laws being different and the will being a legal document, the language of the will must be precise. Legalese being what it is, the common interpretation or understanding of a word or phrase can be wromg, and so your wishes may not actually be carried out. If the will, or some portion of it, is invalidated by some mistake the laws of intestate could take over and your wishes may be completely ignored.
Different tax liabilities are involved, and actions you take in the previous year can be misconstrued to be illegal actons to protect assets and avoid taxes and can be voided. I once thought dieing was simple but recent research has suprised me and opened my eyes.

Answer 3

If you can follow directions get a do-it-yourself will kit. It isn't that difficult. I went to a lawyer the first time, but it cost a fortune. When I wanted to change it I made a new one myself for less than $5. You can also have it notarized if you want a little more security with your will. I'm now working on a revocable trust on my own. It's a little trickier but I think I can do it.

Answer 4

I'm using Quicken WillMaker Plus, and when I'm done I'll run the whole mess past an attorney for his/her seal of approval.
The legal fee shouldn't be more than $100 or so, as I understand it. According to the program, I don't have to even do that, but I guess I'm skeptical.

Answer 5

Some Banks offer this service. Telephone them, and I think that it is free. In some countries you can actually get Will Kits. Ask at you local Post Office or City Council. Hope this helps.

Answer 6

Take no shortcuts if you want to truly protect your wife/vice versa. Hire a lawyer who specializes in estates ..... he/she will draft a unbreakable will for you..the cost should be minimal considering the protection you recieve. In most states, you cannot ignore your children in your will...leave them something, even one dollar will do. But ... this is a high roller game...do it right the first time and you will not have to worry.

Answer 7

copious' answer is a good compromise between the easiest way, and the assurance you've covered all the bases.

Emphatic: Run it by an attorney when you've finished.

Answer 8

a lawyer then you would have peace of mind that all was filed properly. It is worth it....call around, and see who is the
less expensive.