Thunderball said:
Thanks, I'll check it out.
Need legal advice, any Lawyers here?
- Thread starter CaptainHook
- Start date
Thanks, I'll check it out.
Well I have the Wills drafted and as luck would have it, I went to the Sunshine Senior center to play pool yesterday, some of you are familiar with it, as my wife and I do fund raising for them every year, and many A-Z members have donated. Anyway they have a free legal service the first Friday of every month and the Lawyer does the Wills and living wills for all the folks there, so I am going to have him look them over today.
Thank you to everyone for the links and of course the humor.
I will be glad when I get done with them as the wife has had this on her nag list for some time now.
Thank you to everyone for the links and of course the humor.
I will be glad when I get done with them as the wife has had this on her nag list for some time now.
Hay Cap
Get a good estate lawyer. Tell them what you want and they will exicute your wishes.
Not all that expensive.
Nick
Get a good estate lawyer. Tell them what you want and they will exicute your wishes.
Not all that expensive.
Nick
Listen to this horror story.
I know an old lady who had nothing except her house which she was living in. She decided to put it in her sons name. So he got the house and immediately died. His Will left everything to his wife. His Wife got the house and the first thing she did was evict the old lady (her husbnad's mom) out of her own house. Nice huh?
I know an old lady who had nothing except her house which she was living in. She decided to put it in her sons name. So he got the house and immediately died. His Will left everything to his wife. His Wife got the house and the first thing she did was evict the old lady (her husbnad's mom) out of her own house. Nice huh?
A Holographic Will can meet the needs of many people. It's enforcable in most states and is easy to do. Check your state laws before going this route. Here is a link to interesting facts on this -
http://en.wikipedia.org/wiki/Holographic_will
Another way to go is with the Nolo software, if you situation is not complex. This website can help you decide your best course of action -
http://www.nolo.com/resource.cfm/catID/F251EA55-13A9-4EE0-85D21CEB27636030/309/298/
http://en.wikipedia.org/wiki/Holographic_will
Another way to go is with the Nolo software, if you situation is not complex. This website can help you decide your best course of action -
http://www.nolo.com/resource.cfm/catID/F251EA55-13A9-4EE0-85D21CEB27636030/309/298/
http://www.prepaidlegal.com
it's like $16 a month, they do a lot more than just prepare a will. Although you do get a free living will updated whenever you want.
Free legal advice just a phone call away... a lawyer is on call 24hr's a day incase you get thrown in the slammer... they go to traffic court for you so you don't lose a day's work, then mail you a letter with the verdict and what not... they monitor your credit every day of the year for anything weird to pop up, id theft protection... there's a few more things, but I forget exactly what.
They just wrote a letter to my landlord on my behalf because we haven't had heat since Oct... I now get a month free of rent, and the heats fixed.
For $16 a month, it's well worth it to me.
Should check it out.
it's like $16 a month, they do a lot more than just prepare a will. Although you do get a free living will updated whenever you want.
Free legal advice just a phone call away... a lawyer is on call 24hr's a day incase you get thrown in the slammer... they go to traffic court for you so you don't lose a day's work, then mail you a letter with the verdict and what not... they monitor your credit every day of the year for anything weird to pop up, id theft protection... there's a few more things, but I forget exactly what.
They just wrote a letter to my landlord on my behalf because we haven't had heat since Oct... I now get a month free of rent, and the heats fixed.
For $16 a month, it's well worth it to me.
Should check it out.
A holographic will is a probate nightmare waiting to happen. It can be done, but if you mess up, well the results can be pretty bad. The legal fees are postponed until AFTER you die, and they are substantially more than paying for a will BEFORE.8ballEinstein said:
-td
wikipedia should not be a substitute for legal advice
Fragged said:
That's one excellent reason not to use internet sites, chat room posts or cracker jack boxes to create something as important as a will.
Any decent lawyer would have recommended thats the lady take a "life estate" in the house just as another poster pointed out, in which case the horror story would never have happened.
I'm not a lawyer, but I've had plenty of exposure to them in 40 years in business and like every other profession, there are the good, the bad and the ugly.
So one excellent piece of advice is that if you don't have a TRUSTED and EXPERIENCED friend who can refer you to a good lawyer, then pick the largest law firm in your area. They have TONS of malpractice insurance coverage and they also have more to lose from bad publicity. When some solo guy does something wrong, it may not even make the papers, but when BIG FIRM blows something it can make the front page.
Regards,
Jim
td873 said:A holographic will is a probate nightmare waiting to happen. It can be done, but if you mess up, well the results can be pretty bad. The legal fees are postponed until AFTER you die, and they are substantially more than paying for a will BEFORE.
-td
wikipedia should not be a substitute for legal advice
A holographic will is the way I've gone because I don't have a large or complex estate, no kids and few beneficiaries. For others in this situation, it can work out.
I also have a separate Letter of Last Instruction, which indicates the location of the will, the location my financial records, safe deposit box key, the named executor and the reason certain people were left out of the will.
Of course, if you have a much more complex situation, an experienced and competent lawyer is the recommended way to go. This is what I had my parents do, even though they thought they could do it cheaper. They ended up with a Living Trust and are happy their wishes will be carried out, as planned.
8ballEinstein said:
I had a friend who always had "get rich quick" jobs-Hi pressure selling mostly to old ladies and he was somehow selling these "Living Trusts" to people. I dont know what his angle was but going by past history, someone was getting really screwed. I dont know if this scam still goes on but just a word to the wise.
Fragged said:
You've obviously heard a boat load of horror stories about people being taken advantage of and so have I. How 'bout this one -
A lawyer sets up a Living Trust for an elderly lady and the wording was such that the lawyer had control of the distribution of the assets to the beneficiaries. The lady passes and the lawyer delays the asset distribution since there was no timeline written in the Living Trust. Of course the lawyer is "compensated" for the care of those assets, which could last indefinitely.
Or how 'bout this one -
A husband and wife each have a will. Each have children from a previous marriage. The husbands' will passes all his assets to his wife, believing she will look after his kids. Her will passes everything to her children. The husband and wife were in a car when it got hit by a train. The probate court ruled that since the train hit the car on the husbands side, he died a split-second before the wife. At that instant, his assets were transferred to the wife. With her passing, ALL the assets go to HER children only.
Yes, there are pitfalls to look out for when dealing with Wills and Living Trusts. It is "Buyer Beware".
9balllvr said:
Absolutely, 9balllver!! There are many instances where these things have split up families. If your will is vague and your estate substantial, look for it to be challenged after your passing. That's when nobody is happy.