Recently we have some family that have been given a short time to live with a fast spreading cancer. They don’t have a will or anything and its already causing family chaos. So naturally it made me realize I didn’t have one. I want to get my stuff in order for my family. Is the best route going to a attorney? Or has anyone used online services? If so which ones? Just want to get it done right and promptly. Thanks guys
Getting a will done
- Thread starter Butcher
- Start date
We used a lawyer. Not a lot to list so it wasn't very complicated. Easy peasy. Didn't cost a fortune and it was done right the first time. They also were great handling things when my wife passed away. Worth the money IMO.
Pucky Freak
Well-known member
Depends how complex it is. When I was single I wrote a short paragraph and had a notary record two signatures (varies by State - check). My wife and I have 3 adopted kids, one biological, and 2 are special needs. We paid $1100 for tome.
Corn king 60
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- Feb 4, 2021
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- 841
My wife and I went to an attorney we had recommended to us and she was great at walking us through it all. Different laws in different states and the whole thing. We got wills and living wills and all the personal care home stuff explained to us. We also got power of attorney’s done for the both of us. All in it was 700$. Multiple copies for us and our son. We are only 66 years old and don’t plan on going anywhere for awhile but you never know. She also helped us with estate planning as we own a 132 acre farm in pa. And our death tax takes some expert advice.hope this helps and wish you all the best with your family.
mevertsen
Well-known member
We used a lawyer to handle an adoption and our will.
It was two meetings, a few phone calls, sogn here, sign here, explain this, explain that. Sign here, pay, done.
Will, power of attorney, advance directive. Should be able to be done as one package. A bit more for a full trust.
Make the appointment... First thing tomorrow.
It was two meetings, a few phone calls, sogn here, sign here, explain this, explain that. Sign here, pay, done.
Will, power of attorney, advance directive. Should be able to be done as one package. A bit more for a full trust.
Make the appointment... First thing tomorrow.
I went the attorney route. You eventually have to decide about whether you want a trust to avoid probate or set up your accounts to avoid probate. Your assets won’t cause a tax issue unless you have more than $13 million in assets.
My investment funds have beneficiary documentation in it to cover a transfer on death. I have a transfer on death paperwork with my deed to transfer it to my kids on death. There’s a few other things you need to do for vehicles and checking accounts to make sure that their transfer upon death. If you do these things, then you will avoid probate and associated fees.
A trust avoid probate for you too but you pay for the convenience of having the attorney do the work. I’m frugal.
My investment funds have beneficiary documentation in it to cover a transfer on death. I have a transfer on death paperwork with my deed to transfer it to my kids on death. There’s a few other things you need to do for vehicles and checking accounts to make sure that their transfer upon death. If you do these things, then you will avoid probate and associated fees.
A trust avoid probate for you too but you pay for the convenience of having the attorney do the work. I’m frugal.
belshawelk
Well-known member
Like Pf said. Depends on value and what your decisions. If you are sitting on some value in Estate look at a trust at the same time. Will for sure, Trust really helps.
WNC2500
Well-known member
@Butcher Agree with what everyone said. Get it done now. Wife and I did ours probably 13 years ago. One thing to note also is that depending on who you work for, they may cover estate planning or at least pay toward it or all of it. Our company had people that did it for us, and it was only like $400ish and covered will, power of attorney, and advanced directive.
Bonasababy
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- May 16, 2024
- Messages
- 1,583
Id still use a lawyer but won't be long before AI can do a good job.
We had a basic will when a young family, before we retired we decided to upgrade to an estate plan as our desires were a bit complex and a will wasnt ideal anymore.
We had a basic will when a young family, before we retired we decided to upgrade to an estate plan as our desires were a bit complex and a will wasnt ideal anymore.
Hem
Well-known member
My wife and I finally legitimized our estate. The cost was worth the piece of mind.
If I have, or my wife and I, have a head on collision with a semi, the estate should be resolved pretty simply.
If I have, or my wife and I, have a head on collision with a semi, the estate should be resolved pretty simply.
TheBenHoyle
Well-known member
When my wife's parents passed, we set up our will and trusts. My wife has an inheritance trust that will pass her inherited assets to our children. That was back in 2018. My parents are getting older and before long I will need to set up an inheritance trust. We did all of this through a lawyer. I doubt I would trust a website or AI with this. I believe in paying people for their work.
LopeHunter
Well-known member
I suggest this book to read now if you expect will be leaving a legacy amount that is life-altering to one or more beneficiaries: Beyond the Grave
You should aspire to do no harm with your generosity. Unattended outcomes are very possible as more zeros get added to your net worth.
I am party to a modest trust set up in the 1970s by a 60 year old man that had just paid a sizable inheritance bill due to his wife passing away while had done zero estate planning. He could have paid $0 yet by ignorance or need for secretiveness a few million were due. Ouch.
His hope was the trust would keep more money in the family. Meanwhile, estate caps to avoid estate taxes have gone up by millions but the trust got zero of that relief so owes tax on all the gain which is over 90% of the trust’s value. The tax is due if ever sell so will hold until gets step-up basis at my death.
He lived into his 90s, his son lived into his 90s. The son’s spouse lived into her 90s. The trust is now being disbursed in 2026. A lot changed. I was a teenager as the trust was established. I now have grandchildren.
The issue is that provisions in the trust written in the 1970s never accounted for the trust surviving decades until 2026.
If I had died even a day before my father’s spouse then my progeny get equal shares. Progeny spans my adult children and grandchildren. Equal shares. No age restriction as that restriction of age 25 to access the funds expired years ago when I reached 25.
How much money would you need at age 5 or age 16 to make some bad decisions? I have grandchildren that age. For me, any sum that fell into my lap which could buy a new, fast car would have been a bad outcome. Fortunately, I did not get tempted at 16. Fortunately, my grandchildren also escaped that scenario though were put at risk by a flawed trust.
You should aspire to do no harm with your generosity. Unattended outcomes are very possible as more zeros get added to your net worth.
I am party to a modest trust set up in the 1970s by a 60 year old man that had just paid a sizable inheritance bill due to his wife passing away while had done zero estate planning. He could have paid $0 yet by ignorance or need for secretiveness a few million were due. Ouch.
His hope was the trust would keep more money in the family. Meanwhile, estate caps to avoid estate taxes have gone up by millions but the trust got zero of that relief so owes tax on all the gain which is over 90% of the trust’s value. The tax is due if ever sell so will hold until gets step-up basis at my death.
He lived into his 90s, his son lived into his 90s. The son’s spouse lived into her 90s. The trust is now being disbursed in 2026. A lot changed. I was a teenager as the trust was established. I now have grandchildren.
The issue is that provisions in the trust written in the 1970s never accounted for the trust surviving decades until 2026.
If I had died even a day before my father’s spouse then my progeny get equal shares. Progeny spans my adult children and grandchildren. Equal shares. No age restriction as that restriction of age 25 to access the funds expired years ago when I reached 25.
How much money would you need at age 5 or age 16 to make some bad decisions? I have grandchildren that age. For me, any sum that fell into my lap which could buy a new, fast car would have been a bad outcome. Fortunately, I did not get tempted at 16. Fortunately, my grandchildren also escaped that scenario though were put at risk by a flawed trust.
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