It seems that the subject of making a Will is something that most people simply want to avoid as much as possible. Every survey ever done about the topic shows that the majority of adult Americans have not made a Will. We just avoid the subject and dig our heads in the sand. But you need a Will. No matter what your circumstance, you need a Will.
No doubt there are many reasons for the excuses. None of us wants to think about our own mortality. Some people are even superstitious enough to think that making a Will might hasten our own demise. However, even if you do not have a penny to your name, you should make a Will.
There are a lot of myths and misconceptions about making a Will. Here we talk about the confusion that people have about the reality of why you need a Will.
One of the most important questions that you must ask yourself when you are making a Last Will and Testament is how to choose a guardian for your children. None of us ever want to think that we won’t be around to care for our children until they are adults. However, sometimes that becomes a reality.
It is not very likely to happen, but you do need to make sure that there is a provision for someone to look after your children in the event of your death. You can do that by making a Will and giving some detailed thought about how to choose a guardian for your children.
A Will allows parents to name the person or people who you would like to appoint as guardian for your children. This is one of the most important provisions in a Last Will and Testament for all those of us who have minor children.
If you do not choose a guardian in your Will, one will be appointed for you by the court. The decision of who looks after your children will be taken out of your hands. To avoid this, it is very important to choose a guardian in your Last Will and Testament.
What are the things that you must think about when you choose a guardian? Here are some questions that you should think about. Continue reading
How much should you be paying for a Will? Why should you pay anything when just a few clicks away, you can find a free Last Will and Testament service? How can the exact same document cost $800 from an attorney, and absolutely nothing from a website? how do you choose how much to pay for your Will?
All interesting questions which we will answer in this article.
What is a Will?
To understand the variation in the cost of a Will, you have to understand what makes a document a Last Will and Testament.
A Will declares itself to be your Will. It typically appoints an Executor who is responsible for following the instructions laid out in the document. It then goes on to describe how you would like to distribute your things after you are gone.
To make this a legal document you must print it on a piece of paper, date it, and sign it in the presence of two witnesses, who both in turn sign the document. Continue reading
Should You Make Provision for Your Pets in a Will?
We have all seen the stories of eccentric millionaires who leave their fortune to their pets in a Will. Their relatives are cut out of the Will, but Fido receives a very generous legacy. But it’s not as easy as you may think to leave something to your pets in a Will.
One of the most famous of these cases is that of billionaire Leona Helmsley’s dog. He was the lucky pooch who inherited $12 million from her estate. The Maltese dog, perhaps appropriately named “Trouble” was one of the major benefactors of her estate. Some of the family members weren’t quite so fortunate. Two grandchildren received nothing, and Leona evicted her son’s widow after his death. Trouble did not get quite as much money as he bargained for as a judge later reduced the amount to $2 million. The grandchildren who Leona excluded were awarded $6 million and the balance went to charity.
Leona Helmsley earned the title of “Queen of Mean” during her lifetime. She served 18 months in prison for tax evasion. Unfortunately, her gift to her dog made Trouble the most hated dog in the country. He is said to have received numerous death and kidnapping threats, so had to have a permanent security guard with him. He lived in style, but only spent about $190,000 a year. Most of that was on his security detail. Although we are sure there was plenty left over for grooming and food. Continue reading
Do you want to know how to write a Will? Even though writing a Will is one of the most important things that everyone ought to do, most of us are very good at avoiding the issue. Most people put off the task of writing a Will, even though it is one of the most important things that we can do for our family.
The one thing that you should not be apprehensive about is that you do not know how to write a Will. There are plenty of resources out there to help you.
None of us really wants to think about our own demise, so putting off writing a Will seems like the easier option. Unfortunately, the reality is that if we don’t deal with the task of writing a Will, we leave our loved ones with huge potential difficulties.
Most people don’t make a Will – but you should not use this as an excuse! Writing a Will ought to be a very painless process and it can be quite affordable. Do not worry that you do not know how to write a Will. Continue reading