Creating a legal will can be simple and inexpensive, complicated and costly, or somewhere in between. It depends on your circumstances and your intentions. In any case, everyone should have a will, whether or not he or she has substantial assets.
A will is a chance to promote the welfare of the people you care for, and to see that goals important to you in life are still pursued after your death. You can further college educations for your grandchildren, for example, or see to it that a disabled relative will have supportive care. A will is your chance to make your wishes known.
A simple will
A holographic will is a simple, handwritten document. In most jurisdictions it is completely legal, and often it is perfectly adequate. It is still wise to consult an attorney, but a handwritten will does have legal validity, and will serve until it is replaced by one created by a lawyer.
To be more certain that your simple will is valid, copy it out in your own handwriting. Sign and date it, and have two witnesses who are not mentioned in the will, and not married to someone mentioned in the will, sign and date it as well. Have them initial each page and note their addresses near their signatures.
Some states and provinces accept wills that are not entirely handwritten, and that are not witnessed, but to be safe, hand write your will and have it witnessed. It's a good idea to have your will notarized, too.
Remembering that you are not a lawyer, write in plain English. At the same time, make your wishes as clear as you can. Keep it as simple as you can, too, in spite of possible complications.
Complications: Spouses and children
Most jurisdictions will not let you leave a legal spouse without an inheritance. You can write something that makes clear that you wish a spouse to have the minimum the law allows, but you generally cannot leave a spouse with nothing.
Many states also recognize common-law spouses, people who have lived together for a given length of time, perhaps seven years. They, too, cannot be left out of the inheritance, nor can they force those named in the will to give them a significant fraction of the estate.
You definitely can leave any or all of your children out of your will, but you may be asking for trouble if you do. Anyone with an interest can contest a will, and children who feel left out may do so. If you contemplate leaving different size shares to different children, certainly see an attorney.
Children's ages are another possible complication. Arrangements for leaving money to minors must be made according to prescribed forms. If there is no proper will, the court may appoint a guardian for your minor child's inheritance without your input. Relatives with certain disabilities can also present difficulties for someone trying to create a will.
All of these situations, and many more, make it wise to see a legal professional. Creating a will with professional help may not be as expensive as you think, and it may well save legal fees in the long run.
Inexpensive legal help
Several online services provide templates to guide people through the process of creating a will. People who know what they want and who have relatively straightforward financial affairs can take advantage of such services. Models of simple wills can also be found online. These examples help show what should be covered in a will.
Some legal-aid societies have lawyers who will help low-income people make wills. Other ways of finding a low-cost attorney include lawyers retained by some unions, employers, or social groups.
Paralegals are often practiced at writing up wills for the lawyers who employ them. Some paralegals have set up in business for themselves, and can help create a legal will at a good price.
For those who choose to consult an attorney for this important matter, there are still ways to reduce costs. Shop around, perhaps asking friends for recommendations. When seeing the lawyer, have your wishes clearly in mind, and perhaps outlined on paper too. Saving the lawyer's time will save money.
Will essentials
A will should make your wishes as clear as possible. At the same time, it should be expressed in neutral language. Though everyone enjoys hearing about the wife who left her husband ten cents a year, "Because that's what he's worth," such statements make your will weaker, not stronger. The document should state that it is your will, and be properly signed and witnessed.
Check to be sure that a simple hand-written will is legal where you live. Then write, sign, and date one, even if you plan to consult an attorney soon. If you do not create a will, you are letting the state make your choices for you.
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Choosing a legal guardian for your child is an important task. If parents die without naming a guardian, the court will appoint someone; but it cannot know the children as their parents do. Therefore, though choosing a guardian may be emotionally difficult, a guardian and one or two alternates should be named in the parents' will. Continuity When parents choose a guardian, they should think about continuity. Parents want their children's lives to remain as stable as possible, whatever happens. A guardian chosen from the family's circle of nearby friends will allow the children to remain close to home. Therefore, parents might think first of neighborhood friends, friends from school or sport leagues, or from religious services. These are adults the children already know and like. Close family members are another good choice. These are people the children already love. For grandparents though, becoming guardians may be a heavy burden after retirement. Consider their health and future plans. A sibling, aunt, or uncle may also be a good choice, if his or her parenting style is close to your own. Most parents want all the children to have the same guardian. However, in a large family, that may not be possible. In that case, try to arrange matters so the children live near each other. Values In any case, think about what matters most to you as a parent. Choose a guardian who shares your personal values. Spend time with a potential guardian, and see how his or her family works. If no choice seems obvious, try listing the qualities you find most important in a parent. Intelligence, patience, and mental stability may be the most important qualities to you. On the other hand, religious faith and spiritual values may be your most important requirement, or a parent who can stay home with young children. Divorce In case of divorce, your ex will be the court's first choice to raise the children. He or she would have to be proven unsuitable or would have to decline the role for someone else to be chosen. Courts do inquire into the suitability of guardians, but would be inclined to investigate a natural or adoptive parent only lightly. However, if there is evidence of drug addiction, a criminal history, or mental instability, the court may choose someone else, if they are available. Asking your choice When you ask, make clear to your choice that it is fine for them to decline. A guardian should truly want this difficult job. If your first choice declines, you will already have thought of alternates, so you will have someone else to ask. Be prepared to change your choice, as the children grow and circumstances change. This is a part of your will that should be revisited every few years because the best fit for older children may be different than that of younger children. The will When you finally reach a decision, and your choice has agreed, be sure to include his or her name and one or two alternates in your will. Even if you are choosing a married couple to be guardians, name only one of them. That way, if they divorce, there cannot be a custody fight. If possible, you might want to leave the guardian money from a life insurance policy, to help provide for the children. Also write a letter to the guardian, thanking him or her, and adding everything you want to share about the children, including your hopes for their future. Choosing a guardian for your child is difficult. Do it anyway, because a well-chosen guardian is one of the best inheritances a parent can leave his or her young child. |
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