Who here has written a will?

[Triumph]

I need to make a will and I'm in the easy situation of no kids, not much property, no debts to worry about, etc. I just want to leave everything to my dad if something happens, and not have to pay a lawyer $500 to do this. Anyone here done this?

 

[Tarrant64]

Originally posted by: Triumph
I need to make a will and I'm in the easy situation of no kids, not much property, no debts to worry about, etc. I just want to leave everything to my dad if something happens, and not have to pay a lawyer $500 to do this. Anyone here done this?

My Uncle, after he found out he had cancer and passed away 7-months later, had to fill out a will. My parents told him it was best to go with a lawyer.

Not sure if it's the best way to go, but it helped with some legal issues I think that came up after he died. My sister and I were kept in the the dark but it def. had to do with a lot of money nobody knew he had.

Also, how old should someone wait to start one?

 

[b0mbrman]

At 26, I have one and update it regularly.

 

[Fraggable]

I don't but I'm only 22 and don't really own much other than my computers and stuff. And my car which I barely own, it's mostly the bank's.

EDIT: I just remembered, when I worked at Staples we had a bunch of preprinted legal documents like rental agreements, sales, etc. and I think there was a basic will statement in there. Try checking in your office supply store's paper and notepad section, around the carbon-copy forms and sales order books.

 

[Don Vito Corleone]

When I was in the service I prepared hundreds of wills. You should be able to safely rely on any commercially-available wills software for this - they normally ensure that your will is in full compliance with the laws of your state. Louisiana is the only state with materially different technical requirements for wills (they use the Napoleonic Code rather than the English common law), and hence the only one that requires particular technical care in drafting.

This is not intended as formal legal advice, nor is it a substitute for consulting an attorney licensed in your state and competent in the preparation of wills and other testamentary documents.

 

[Tarrant64]

Sorry to ask if it's personal, but why do you need a will for now?

 

[Leros]

Originally posted by: Tarrant64
Sorry to ask if it's personal, but why do you need a will for now?

Anyone with a decent amount of value to their name needs a will, just in case.

 

[Don Vito Corleone]

Originally posted by: Leros

Originally posted by: Tarrant64
Sorry to ask if it's personal, but why do you need a will for now?

Anyone with a decent amount of value to their name needs a will, just in case.

I wouldn't necessarily agree with that. Many people want their property to pass to their next of kin (which will ordinarily happen by operation of law anyway), and don't have assets that are complicated to handle through probate even in the absence of a will.

I do think wills are important, but IMO they are less important than living wills and durable powers of attorney for medical care, for most people who aren't elderly.

 

[Mill]

Yes. I got in barely a year ago, and now I have to change it because I'm getting married. I paid 1500-2000 I think. It was kind of complicated because it had several beneficiaries and setup trusts for certain relatives. I also have a living will...

 

[Leros]

Originally posted by: DonVito

Originally posted by: Leros

Originally posted by: Tarrant64
Sorry to ask if it's personal, but why do you need a will for now?

Anyone with a decent amount of value to their name needs a will, just in case.

I wouldn't necessarily agree with that. Many people want their property to pass to their next of kin (which will ordinarily happen by operation of law anyway), and don't have assets that are complicated to handle through probate even in the absence of a will.

I do think wills are important, but IMO they are less important than living wills and durable powers of attorney for medical care, for most people who aren't elderly.

I guess its more important if you have dependents.

 

[amddude]

Originally posted by: Leros

Originally posted by: Tarrant64
Sorry to ask if it's personal, but why do you need a will for now?

Anyone with a decent amount of value to their name needs a will, just in case.

Or children

 

[invidia]

I have massive debts and loans. I don't think anyone wants any of my stuff when I die...

 

[Triumph]

I just talked to our work lawyer and he said that if I were to die without a will, then I would be "intestate" and everything I own would go to my living parents first, then brothers/sisters, then aunts/uncles/cousins/, etc. Well, I was just going to leave everything to my dad anyway; if that's what's going to happen by default then I don't even need a will?

What's the difference between a living will and power of attorney?

 

[Brainonska511]

Originally posted by: Triumph
I just talked to our work lawyer and he said that if I were to die without a will, then I would be "intestate" and everything I own would go to my living parents first, then brothers/sisters, then aunts/uncles/cousins/, etc. Well, I was just going to leave everything to my dad anyway; if that's what's going to happen by default then I don't even need a will?

What's the difference between a living will and power of attorney?

IIRC, living will expresses your wishes if you become incapacitated while power of attorney allows someone else to make decisions in your place if you became incapacitated. I also believe power of attorney can be used to enforce someone's living will.

 

[iroast]

Originally posted by: Triumph
I just talked to our work lawyer and he said that if I were to die without a will, then I would be "intestate" and everything I own would go to my living parents first, then brothers/sisters, then aunts/uncles/cousins/, etc. Well, I was just going to leave everything to my dad anyway; if that's what's going to happen by default then I don't even need a will?

What's the difference between a living will and power of attorney?

A will might prevent families from fighting each other for your goods.

 

[everman]

A living trust is the way to go, you want to bypass the probate process as much as possible. It's not necessary or very useful if you don't really own anything or have a spouse or kids. However if you do have kids, you are married, and you do own significant assets, it's practically a must.

 

[shopbruin]

there are online legal document preparation companies that prepare wills.

 

[Luthien]

I have but have not updated it in a long time.