What do I need to know about creating my own will without attorney?
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Anonymous
| We have 3 kids. HhI 250k. We are in our mid 30s, own 1 house and 1mm in assets including 401ks. We just want to have a will to outline who gets kids in case something happens to us and split assets to our kids. This seems simple enough to go online and print out a will in DC. Am I missing anything? Is it much more complicated than this? Thanks |
Anonymous
| You're an idiot. Hire a lawyer. |
Anonymous
|
Yes it is more complicated than that. You need -- and can clearly afford -- to hire a trusts and estates attorney. Don't go cheap here because your heirs will pay the price in time (wills must be probated) and money (proper estate planning saves your heirs money). There is a lot more to it than just a list of who gets what. And while you are at it, your T & E attorney should help you put together a durable power of attorney, health care proxy, and other important legal documents.
You have to set up a trust for your kids' benefit (and surviving spouse if you don't die at the same time). You need to have a trustee (or more than one) for that trust, ho should probably not be the same person as your kids' guardian. This will protect your kids from getting taken advantage of and also allow you to specify hiw much your kids get at what ages. I have a law degree from Yale and I didn't do my own will and trust! This is not the place to be penny wise and pound foolish. It's also not rocket science so if you have a fairly standard set of needs it might cost a couple thousand but not extortionate amounts. It's money well spent though because good estate planning is all about maximizing benefits in both time and money for your heirs and about protecting their interests until they are of age. |
Anonymous
| Oops ho => who! |
Anonymous
| I concur with the pp. a mediocre lawyer would be much better at dong this than you. |
Anonymous
|
we just paid $750 to do this
get a lawyer |
Anonymous
NP says you're a jerk. |
Anonymous
|
The amount of trouble you can get into online vs a real lawyer is unreal.
You need counsel here. Hire one. |
Anonymous
Who did you use? That sounds like a fair price. |
Anonymous
Anonymous
| ^^Our situation is quite simple though. I'm sure he charges more for more complexity. |
Anonymous
| Re guardianship, know that you are simply issuing an opinion; the kids are not like property or investment assets and cannot be given away or assigned to someone. Courts will make the final decision, hopefully taking into account your wishes. DH was a T&E attorney and we still had a different atty review our wills. Hire an attorney. |
Anonymous
| Use Nolo willmaker-- perfectly adequate for an enforceable straightforward will/situation. |
Anonymous
|
Sure you can do it yourself. Just understand there is a 75% chance it won't hold up or work as intended because you'll screw something up.
This is like assuming you can disinfect and stitch up your own wound. Maybe. But there is a reason people spend years studying it before they are licensed to do it for others. |
Anonymous
|
I'm a Harvard Law grad and worked in Big Law, and I would never do my own estate planning. Would you hire a lawyer, knowing that their first case was yours? Of course not, because the law is intricate and specialized, and if they screwed up, it's your family's money that could be lost. So why would you do your own estate planning?
You have one shot; get it done right. |