With the internet, writing wills has become very easy and affordable. Anyone can now write his or her own will. Still, it would be prudent to consult a lawyer when making your will. It may cost you more at the start - but you will end up saving more money - and even a lot of heartaches - in the end.
Let me tell you about something that could possibly occur. Al (not his true name) likes to do things himself. This enables him to save a lot of dollars. Al is fiftyish. He has divorced his wife and has no children. He has a sister, Jill, whom he despises. Al would rather that his estate be inherited by his friends.
After researching on the Net, Al was able to pen his will. Al put his signature and had witnesses do likewise. Two years later, Al made some revisions in his document. He simply marked out a few names. He failed to put his initial nor indicate the date of change. Later, Al contracted a serious ailment. Brought to a hospital, he confessed to his friend, Sue, that he wanted to "improve" his will again. He wanted to make it official that his friends should be the beneficiaries of his will. But alas! Al passed away before any changes could be made.
Sue was appointed the Executor of Al's estate. Sue immediately commissioned an attorney to help her. With the lawyer, Sue learned that the will had many errors. The estate attorney informed Sue that Al would undergo two probates. This is because he owned property in two states -- Nevada and California. Al also made many deletions in his will without indicating any replacement name or information. For all intents and purposes, Al had no will. So, the lawyer had to turn to the laws of the State of California for guidance.
There were more surprises. Joseph's life insurance policy indicated that his beneficiary is his ex-wife, Maggie. Joseph was so careless that he did not have his beneficiary changed even after his divorce. And his will had no effect on the life insurance beneficiary designation.
Susan was crestfallen! She soon figured she wasn't going to get even a cent from Bill's estate. Adding insult to injury, Susan knew that the estate would be split between Mary, the ex-wife, and Judy, Bill's sister. Bill didn't like them both. Unfortunately, Bill's friends wouldn 't be able to inherit his estate.
There are countless other "Josephs" out there because the estate owner did not consult a lawyer. You can avoid being a "Joseph" and save your beneficiaries a lot of grief by consulting a lawyer when you write your will.
Let me tell you about something that could possibly occur. Al (not his true name) likes to do things himself. This enables him to save a lot of dollars. Al is fiftyish. He has divorced his wife and has no children. He has a sister, Jill, whom he despises. Al would rather that his estate be inherited by his friends.
After researching on the Net, Al was able to pen his will. Al put his signature and had witnesses do likewise. Two years later, Al made some revisions in his document. He simply marked out a few names. He failed to put his initial nor indicate the date of change. Later, Al contracted a serious ailment. Brought to a hospital, he confessed to his friend, Sue, that he wanted to "improve" his will again. He wanted to make it official that his friends should be the beneficiaries of his will. But alas! Al passed away before any changes could be made.
Sue was appointed the Executor of Al's estate. Sue immediately commissioned an attorney to help her. With the lawyer, Sue learned that the will had many errors. The estate attorney informed Sue that Al would undergo two probates. This is because he owned property in two states -- Nevada and California. Al also made many deletions in his will without indicating any replacement name or information. For all intents and purposes, Al had no will. So, the lawyer had to turn to the laws of the State of California for guidance.
There were more surprises. Joseph's life insurance policy indicated that his beneficiary is his ex-wife, Maggie. Joseph was so careless that he did not have his beneficiary changed even after his divorce. And his will had no effect on the life insurance beneficiary designation.
Susan was crestfallen! She soon figured she wasn't going to get even a cent from Bill's estate. Adding insult to injury, Susan knew that the estate would be split between Mary, the ex-wife, and Judy, Bill's sister. Bill didn't like them both. Unfortunately, Bill's friends wouldn 't be able to inherit his estate.
There are countless other "Josephs" out there because the estate owner did not consult a lawyer. You can avoid being a "Joseph" and save your beneficiaries a lot of grief by consulting a lawyer when you write your will.
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