Free Sample Living Wills
In my estate planning law practice I get asked all the time if it is ok to use a sample living trust from the internet. My answer is maybe. If your total estate tax net worth value is less than the estate tax threshold amount then you can do it yourself.
To calculate your net worth estate tax value, add the value from the following assets:
- real property;
- financial assets;
- personal property; and
- death benefits on life insurance you own on your life.
The threshold amount for federal estate tax is $3,500,000.00. In addition approximately 19 estates have an estate tax threshold that ranges from $1,000,000.00 up to the federal amount. If you are below these amounts and are willing to take the time to learn what each section of the trust means then you can and should draft your own document from an internet sample living trust.
Please be aware though that many samples on the internet are just that, samples. They fit a small population. If you fit within that box, then you will probably be fine. If your situation is a little different then the sample living trust you are working from may not be the right option.
You should look for a product that gives you information and options and was created by an attorney. Look for products that teach you about the trust. Once you understand what makes up the trust document, you will be able to put it together to fit your individual facts and circumstances.
You also want a sample living trust product that gives you all of the supporting documents along with detailed information on how to fund the trust.
Going with a sample living trust can save you thousands of dollars in attorney fees but you need to take the time to understand which product is best.
Robert Olson is the lead attorney at DIY Lawyer [http://www.diylawyer.net]. A website dedicated to helping people do their own legal work including drafting a Living Trust. They offer an e-book with a money back guarantee titled the Living Trust Annotated. This book teaches you to draft your own Living Trust for a fraction of what you would pay an attorney. With the purchase of the e-book you also receive a free half hour phone consultation with a DIY Lawyer to answer your questions about the book. You can read about it at DIY Lawyer’s Living Trust Annotated [http://www.diylawyer.net/Revocable-Living-Trust-Annotated-EB.html].
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