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I hate bringing this up, but my wife and I have put off making a will. That's pretty dumb given our age and our assets. We do want to make sure our kids get everything.
For those of you in the know, do you recommend using a reputable on-line site or hiring an attorney? If you are really in the know, would you be willing to share the plusses and minuses of both?
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Legend
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If you have a lot, pay an attorney to draw up a will. Period.
If your estate would consist of a house, bank accounts, you could probably do it on line. But, spend the money on an attorney. Obviously, jmo. You don't want things tied up in probate after you die.
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Legend
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We made a will when my first son was born.... I wanted to not only make sure our assets were managed how we wanted but also thwt if god forbid something happened to both my wife and I that it was very clear what we wanted to happen with my boys... we hired a lawyer... was more expensive than I was expecting but it was a great experience... got to talk through scenarios and walk through things pretty thoroughly...
<><
#gmstrong
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Legend
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The issue is that most attorneys have a paralegal use the same forms the online guys use to write your will. BUT if you have anything that requires something special like certain belongings, business interest, or just special instructions; you need an attorney.
But if you are trying to play it safe in circumstances like we have now, a legalzoom will would hold up better in court than no will at all. In any postmortem legal proceeding the judge would try to interpret your intentions as best as they could within the limits of law.
Last edited by OldColdDawg; 04/09/20 09:25 PM.
Your feelings and opinions do not add up to facts.
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Thanks for the advice, guys.
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Hall of Famer
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I used WillWriter from Broderbund software. 9.99 and I had it witnessed and notarized.
If it's complicated, pay the attorney.
SaintDawg™
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We're not rich. Just want to make sure the kids [adult aged] get what we do have.
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We're not rich. Just want to make sure the kids [adult aged] get what we do have. Then what I used will get the job done. I bought it at Staples. 10 bucks. Do the interview, answer the questions, save and print. Get it witnessed and notarized. Done.
Last edited by SaintDawg; 04/10/20 05:42 PM.
SaintDawg™
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Legend
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We just did this after Dad died and a brother-in-law whose unexpected death left my sister a mess that she still is fighting through because of no will.
We payed an attorney and used our financial guy. I would not do online myself. I have no regrets paying for quality work and assistance down the road when needed. It isn't a bargain if it fails you or family when needed. Nobody gripes about having legal coverage, advice, and work done too well. JMO and wife agreed. We want our monies to go where we want after looking out for the surviving spouse. That involved a trust, living wills, and such. We have no children. We want to help our families and not be a burden
Decide what you need to do right, and good luck!
"Every responsibility implies opportunity, and every opportunity implies responsibility." Otis Allen Glazebrook, 1880
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Legend
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If you have serious assets, an attorney written will, as well as a trust, is a must.
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I hate bringing this up, but my wife and I have put off making a will. That's pretty dumb given our age and our assets. We do want to make sure our kids get everything.
For those of you in the know, do you recommend using a reputable on-line site or hiring an attorney? If you are really in the know, would you be willing to share the plusses and minuses of both? Serious question: Do you need my whole name or will just a middle initial do?
Let this sink in..... On 12-31-23 it be will 123123. On the flip side, you can tune a piano but you can't tune-a-fish.
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Legend
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Legend
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.
Last edited by lampdogg; 04/10/20 07:32 PM.
gmstrong ----------------- 2023: The year we got a legit D.
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Legend
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Say hi to coach B.
gmstrong ----------------- 2023: The year we got a legit D.
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We're not rich. Just want to make sure the kids [adult aged] get what we do have. That is not what you have articulated in the past. I will stop there, other than to say if what you've posted in the past about your wealth is true, you NEED to have an attorney, and a trust, and the sooner you get a trust, the better.
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Jeez.
You started a thread about making out a will. The infamous Coach B passed some years ago, as his son announced in an emotional post. It’s an old DT reference, vers.
gmstrong ----------------- 2023: The year we got a legit D.
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4 Reasons Why a Living Trust is Preferred over a WillBy Vickie Schumacher Many consumers and professionals now prefer an estate plan that uses a revocable living trust over a will as the primary estate planning document. Here are four reasons why: A properly prepared and funded revocable living trust plan avoids probate at death, including multiple probates if you own property in other states. A will must go through probate to be verified and enforced, and if you own property in more than one state, your family could face multiple probates, each one according to the laws in that state. Avoiding the cost of probate is often a factor when choosing a living trust, but many people are just as interested in avoiding the court process altogether, along with its delays, lack of privacy, loss of control and emotional stress. A properly prepared and funded living trust avoids court interference at incapacity. Most people prefer to have their care and assets managed privately by people they know and trust, instead of being placed in a court guardianship, which is costly, time consuming, public and stressful. It’s important to note that a will is of no help at incapacity because a will can only go into effect when you die. A living trust brings all of your assets together under one plan with one set of instructions. (Possible exceptions are IRAs and other tax-deferred plans.) This makes it much easier to provide fair inheritances to your beneficiaries, as opposed to trying to balance inheritances with beneficiary designations and joint ownership because of fluctuating values of investment accounts, life insurance policies and other assets. By contrast, a will only controls assets that are titled solely in your name; it does not control most jointly owned assets or those for which you have named a valid beneficiary. A properly prepared and funded living trust is more private than a will and is not as easily contested. Because probate is a public process, disgruntled heirs and other interested parties are invited to submit claims and contest your will, and unwanted solicitors can have access to your family’s personal and financial information. While a living trust cannot guarantee complete privacy, it is much more private than a will, which is guaranteed to be made public through probate. What, then, is a properly prepared and funded living trust? “Properly prepared” means the documents are written correctly according to the law and your desires. This is best accomplished by having an experienced estate planning attorney prepare your trust. “Properly funded” means you all assets are properly titled in the name of your revocable living trust and proper beneficiary designation forms are completed naming your revocable living trust as beneficiary. Your revocable living trust only controls the assets that have been transferred to it. If you forget to put an asset into your trust, it will be added to your trust after you die through probate before it can be distributed along with your other assets according to your desires as set forth in your revocable living trust. https://www.estateplanning.com/reasons-why-living-trust-over-will/
HERE WE GO BROWNIES! HERE WE GO!!
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I wasn't on this board when that went down, lamp. I was over at Brown's Chat. I think that is what it was called.
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My first thought after reading that is who wrote it and why ...
There’s some validity to it but overall its not a very compelling argument ... seems fear mongerie to me ...
IF u think u need a trust and there is valid reasons for them ... there is very valid reasons for them ... but not for most ...
Anyhow .. IF u think a trust is the way to go .... find a good estate attorney who is highly recommended and go to them and see what they say .... in most cases there not needed ... plus the consultation is almost always free ... even if its 100 or 200 for the consultation ... if you’ve got that kind of cash no need to be penny smart and dollar foolish ... most of them will put the consultation towards whatever option u choose if u use them ... protect yourself and spend the money u cheap bastage ... *L* ...
Wills and if needed trusts are well worth the money spent ... think about it ... lets say u have 400k to protect ... its not worth $500 to make sure its going where u want it too when your gone .... that is the epitome of penny smart, dollar foolish ...
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Legend
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I wasn't on this board when that went down, lamp. I was over at Brown's Chat. I think that is what it was called. Ahhh, I see.
gmstrong ----------------- 2023: The year we got a legit D.
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Legend
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If you have multiple assets that need to be divided up without contest, get an attorney. If you are simply leaving equal share with instructions on what to do with physical property then online could suffice.
But if in doubt at all, get an attorney.
We don't have to agree with each other, to respect each others opinion.
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Legend
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De nada. Good luck!
"Every responsibility implies opportunity, and every opportunity implies responsibility." Otis Allen Glazebrook, 1880
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Legend
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Here is the deal.
If you are in dire straits, even a hand written will, will work, but it will have to go to probate. But that will cost your son more than you and her having a simple will drawn up by an attorney. If he can provide that, it doesn't even get locked up in probate court.
I know enough about what you have done and what your wife does or has done to know you have a sizeable enough estate to need a law firm header on your will.
Don't just leave it to legalzoom. Your attorney can make it specific to your situation. Generic works, but not always the best.
If everybody had like minds, we would never learn. GM Strong
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Forums DawgTalk Everything Else... Making a Will
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