Wills, Trusts FAQ

I have noticed many posts about wills, trusts, guardians, how to select an attorney and whether an attorney is even needed. As an estate attorney, I hope this post will help begin the process of answering some of those questions. Please use this post as a resource. Generally, the questions have asked the following:

1. Why bother with the expense of an attorney. Can't you just use Legalzoom, Nolo or one of the many online/software tools to create your will?

Answer: Sure, using this software and putting something into place is much better than not having a will at all. It is better than not having anything in place. Any piece of software designed to write a will can do so and will always be cheaper than using an attorney. However, when you hire an attorney, you are not hiring that person to just create form documents. You are hiring that person for the advice that will be provided to you and for the experience gained from school and from working with people similar to you. When you use a piece of software, it cannot advise you as to the ramifications of what you have written. When you use a piece of software can you be sure that it has been tailored to your state's rules? Also, there are little things that the software designer may have overlooked that could cost your estate hundreds to maybe thousands of dollars. The software will not update your will when the law changes.

2. How do we select guardians for our kids?

This is difficult to answer without knowing someone and what is important to them. However, I would offer a few points. First, you should select those that want to do this job. Remember that this is a big undertaking. As all of you would agree, it is not easy to raise kids. Second, you should select people that share your values and the values that you would instill in yur kids. Third, you should think about who you do not want to have anything to do with your kids. There was a case in PA recently where the mother passed away and then the father stopped letting the grandparents see the kids. The grandparents sued. The father said that he and his wife agreed to stop letting the grandparents see the kids, but nothing was wrtten down so we do not know who to believe. The grandparents won their suit after many years of litigation.

3. Is a will enough? How often should we update it?

Generally, most people should hav more than just a will. A will is important because this is where you name guardians for the kids as well as take care of other issues. However, what happens to your kids if something happens to you before your guardians can take custody of your kids? What if you have named out of state guardians? The will should be reviewed at least every 3 years, but sooner if there have been changes such as new children, new home, or if you know that you have gotten wealthier. With that being said, there are problems with a will. A will is public once you pass away so anyone can go down to the register of wills and pull your will! A will goes through probate which gives your creditors a chance to make claims against your estate and gives predators a chance to prey on your kids. If you pass away with minor children and all you have is a will, your assets will go to your kids when they turn 18! Will your kids be mature enough to not blow through that money at 18? What about estate taxes?

I have posted some significant information here and will leave it at that for now. Please ask questions if you have them. In a follow up post I will answer any questions that have come in and will also address things like how to select an attorney, price and some more technical topics. I have included my contact information below. 

Sincerely,

Anthony Carducci, Esq.

410-693-7323

acarducci@msn.com; anthony.carducci@legalhelpmaryland.com