WILLS

A Will is a document which specifies how a person's property (estate) is to be distributed after his or her death.  Wills can be handwritten (holographic) or typed (formal) and range from simple to complex, depending on the estate.  It can designate who receives what property and under what conditions.  Guardians for minor children may be named in a Will.  A Will is necessary to disinherit a child or spouse.

Through your will you can give away most, if not all, of the property you own at the time of your death.  Certain assets that you own that may pass outside of your Will, by way of a beneficiary designation, such as your retirement plans, life insurance, bank accounts and living trust assets or property subject to a contract. You may also own property that will automatically pass to another individual regardless of your Will, such as joint tenancy property or property held as community property with right of survivorship.

We believe everyone should have a Will.  Even people that have living trusts should consider preparing a Will because, without a Will, any property not named in the living trust will pass according to state law, not necessarily in accordance with a person's wishes.  Moreover, when a person dies without a Will, the state will distribute his or her property according to a preset formula, excluding friends, unmarried partners, charities and distant relatives.

Although you may use a "self help kit" or a paralegal to draft your own will, we think it foolish to do so.  If there’s a problem with your Will, it is unlikely to arise until you’re gone.  Your wishes may not be followed, your heirs may fight amongst themselves and the small amount of money you saved may end up costing your heirs thousands in attorney fees, probate fees, court costs and/or unnecessary taxes.  It is all to common to see huge sums of money wasted in cleaning up messy estates because a testator tried to save a few bucks preparing his or her own Will or Living Trust.

We charge $300.00 for a simple Will and $500.00 for simple reciprocal Wills for a husband and wife.  Don’t be penny wise and dollar foolish!  Because the laws that govern wills are very complex, it is best to have a lawyer prepare your will. If you have minor children, own real estate, are a business owner or are concerned with federal and state taxation of your estate, it may well be worth the cost of having a more complex will or a revocable trust.  Whatever you do, you should at least give us a call.  We offer an absolutely free, no obligation consultation.  But whatever you do, don’t wait until it’s too late.