Living Wills And Trusts Forms
How do I estate plan for my family?
I am married with one daughter, and one step son, in the state of Illinois. Me and my wife want to make sure in the case that one or both of us die that our wishes are carried on, and I am not sure what legal forms I need to get this completed. Does anyone have a suggestions on what I need to setup, living will, or a trust?
For example if both me and my wife die we would like our daughter to go to my wife’s brother. Also we would like our assets divided as 50% of the household money going to my biological daughter and my wife’s 50% divided between our daughter and her son. Any suggestions on what forms I need and what website I could go to, to get this established?
Don’t do the DIY approach. I’ve seen many people end up in legal fights becuase the DIY will kit wasn’t specific enough.
Also, depending on how big your estate is, I trust may be a better option for 2 reasons:
1) Wills are public information
2) Wills are contestable in court
Why is this important?
Let’s say I’m your neighbour and you you pass away. I read in the paper that you died. I show up to will reading (read about it in the paper) and say “Wait a minute, why am I not in the will? Good Ol’ Nick told me that since I cut his lawn and we were such good friends that he wanted to give me 50% of his estate when he dies”. My wife and buddy confirm that they witnessed this conversation (I made a deal with them that I would split the money with them if they support my story). Now it goes to court…we battle it out for a few months costing your estate a bunch of lawyers fees instead of going to the kids as you intended. In the end I likely wouldn’t win the case, but I still get a fat cheque as ‘Go away” money (settle out of court and your lawyers give me money to shut the hell up and go away)…again, that should have gone to your kids.
Another real life example….
One of my collegues clients had passed away and did the DIY will kit. Let’s call him Bill. Bill’s will stated that his estate was ” to be divided equally amongst my children”. After his death, a man showed up to the will reading claiming to be Bill’s illegitimate son that he had never met…techincally one of his children. Went through the test and courts…sure enough this man was Bill’s illigitimate son that he had never met. Now the estate was divided up equally between 3 people instead of the 2 children that Bill intended. This man, that Bill had never met, had absolutley no relationship with and had never intended to have any part of his estate, walked in and got a chunk of the estate becuase of one little thing….Bill wasn’t specific with names or even the number of children his estate was to be divided into.
If you don’t have a large estate, a will might be fine…no one is going to contest a will and pay all the lawyers fees for $500, but if your estate is into the millions…look at a family trust.
Contact a liscensed estate planner that can help with the insurance/investment/tax planning part and they should be able to get you in contact with a lawyer that can help with the legal side of the will or trust, whichever you set up.
Tasby’s Paralegal Offices Inc, New York, NY
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Adams Living Trust Kit, 8.88 x 11.69 Inch, White (K305) $14.53 Helping you protect and control your assets during your lifetime and after your death. Contains all the step-by-step instructions and materials needed to prepare your own living trust. EA…. |
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New Nolo Press Inc. Quicken Willmaker Premium 2011 With Living Trust Maker Software $21.99 Quicken WillMaker Premium 2011 Estate Planning Software provides the legal forms required to create an effective estate plan.Just launch the software, follow a simple, guided step-by-step interview, and in 30 minutes or less you can create the following documents, customized to suit your unique circumstances and reflect the laws of your state (Estate planning documents not valid in Louisiana).Also… |
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Brand New Nolo Press Inc. Quicken Willmaker Premium 2011 With Living Trust Maker Software $39.95 Quicken WillMaker Premium 2011 Estate Planning Software provides the legal forms required to create an effective estate plan.Just launch the software, follow a simple, guided step-by-step interview, and in 30 minutes or less you can create the following documents, customized to suit your unique circumstances and reflect the laws of your state (Estate planning documents not valid in Louisiana).Also… |
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Suze Orman Will & Trust Kit $19.95 This is an easy-to-use and fast way for you and other members of your household to create your own advance directive, also known as a living will, durable power of attorney for health care, living revocable trust, and all the other must-have documents you need to protect you and your family. Its as easy as 1-2-3simply personalize, print, and protect. Suze Orman and her own estate trust attorne… |
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Make Your Own Living Trust (Book & CD-ROM) $5.65 Most of us know that upon our demise, a succession of fees and taxes will eat into our estates–no matter their size–if we don’t plan now to protect them. Unfortunately, many of us still postpone this process because we hesitate to summon the outside legal assistance that’s traditionally been required. The folks at Nolo Press have made it their mission to provide us with the means to complet… |
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Living Wills and Powers of Attorney for California (Living Wills & Powers of Attorney for California) $16.00 This book helps Californians, and their families avoid problems if they ever become unable to make health care or financial decisions for themselves. It contains forms and instructions for completing these documents: California Adbance Health Care Directive, Do Not Resuscitate Order, California Durable Power of Attorney for Finances. All forms available as tearouts and on CDROM…. |
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Quicken Will Maker Premium 2012 $20.00 Create legal documents thatprotect your family and propertyProductInformationQuicken WillMaker Premium 2012 helps you create a customized estateplan quickly and easily. Along with documents for LegalWill Financial Powers of Attorney Final Arrangements and ExecutorDocuments this software includes helpful finance home and familydocuments as well as bestselling estate planning retirement andper… |
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Quicken WillMaker Plus 2011 $9.49 Make a legal will, health care directive and other documents that protect your family and property. Bonus! Includes free online living trust by Nolo. Plus: Register your software and download a free copy of Nolo’s Encyclopedia of Everyday Law. “[Willmaker] can walk you through making a will and provisions you need to consider for your situation.” 2/7/2011 CBS MoneyWatch. Save your family mo… |
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Alpha Protocol $3.74 The year is 2009. Worldwide political tensions are at a breaking point when a commercial airliner is shot down by a U.S. missile over Eastern Europe, killing all aboard. The U.S. government claims no involvement, and dispatches Agent Michael Thorton to investigate and bring those responsible to justice. As the first modern day spy role-playing game, Alpha Protocol offers unprecedented control over… |
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Alpha Protocol $6.99 Choice is your best weaponin a modern day spy RPG!Product InformationIn Alpha Protocol: The Espionage RPG an attack on a civilian airlinehas political tensions rising worldwide and nothing is as it seems. Assume the identity of Michael Thorton the only governmentoperative with the information skills and training to prevent aseemingly inevitable international disaster. ControlThorton’s a… |
