Drafting a Will...How to.

You might want to read the article entitled "Five Reasons Why I Don't Have a Will".

http://www.solidgoldhomebusiness.com/wills.html

 

the Nolo software is educational stuff. not sure i'd actually use it to write a formal will with, but it'll educate you about the process.

wills don't have to be very formal. grab a video camera and just tape something. make a couple copies and give them to friends and relatives in sealed envelopes not to be opened while you're still alive.

if you have real assets, kids, a spouse, or any other such serious obligations, talk to a real attorney.

doody.

 

Just started studying wills & estates in law school But, if you do a video of the will you may want to have 2 witnesses who are not included in the will sign a document stating that they saw you create this will of your own free will & under no duress. This would be called a Holographic will. Check to see if your state accepts Holographic or video wills

 

Will that hold up, legally...? When i was in NY, my uncle (a personal injury attorney) told me that i couldn't just write my own will; that i had to go through an attorney, yadda yadda yadda... Can i just write or video my own will, do as you mentioned and call it a day...?

 

Doody is right. If you have kids, a wife, or both, you need to have the will drafted properly to comply with all the formalities of the state in which you live. You need to have a competent attorny draft it for you. When you do the will, you may also want to think about setting up a trust for your children and creating medical powers of attorney. A few thousand dollars (can be done for about $2500) and you will sleep better knowing that your family will be taken care of without the need for a messy probate.

 

if you don't have a wife, kids, heirs, and obligations, it shouldn't be ignored by the courts.

laws vary by state.

do keep in mind that plenty of wills that folks have spent tens, even hundreds of thousands of dollars drafting end up being fought over.

so it's a question of scale. if you have no real assets, but want to make sure your best friend gets your 1974 Gremlin, you can rock and roll with something cheap and easy if that's your desire. if your estate is worth $25M and you've got two ongoing businesses, three ex wives, seven children from two marriages, and so on and so forth - you want to get it done right.

doody.

 

LOL, i don't know, for some silly reason i figured that, since he was my uncle, he'd give it me straight up... LOL, what was i thinking...?

 

i know what he would say, but i figure he'd at least give her the benefit of the doubt about the truth... Actually, knowing him, he'd probably try to... Ah, forget it...

 

Question for attorneys in regard to wills:

A family member, now deceased, had a provision in his will saying that if a beneficiary or anyone else challenged the will in any way they would receive $10.00 max.

I can see the intent, but does a provision like this actually deter challenges or seriously hamper them in court?

Regarding wills in general:

The first time my wife and I did wills we got software, "Family Lawyer", I think, and did it ourselves. It was right before an unplanned trip and we called our real family lawyer; he said it was certainly better than nothing but to make sure it was notarized and signed by two witnesses. We later got him to do regular wills and medical POA's, etc.

If you don't have any kind of will or estate plan and there's something there to fight over your survivors are in for a big mess, costly in financial and personal terms.

 

A good thing to always do, is whenever opening a bank account put down a POD (pay on death) Money goes straight to that person and avoids probate. I do not have a will yet but have done this with all my accounts listing my 6 year old as payee. But do have to move my butt and make one as I have learned that if I croak my daughter would technically be considered a ward of the State. would stay with her mother but State would be in charge of handing out the money till she was 18 and am sure with some high administrative fee's