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Senior Retirement Tips :: How to Write a Will
How to Write a Will: How to Write a Digital Online Will
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How to write a will – it’s a skill many of us wished we have and one that could save hundreds of dollars in lawyer fees.
The good news is that today, there are many ways to create an online will or trust, many of which take less than an hour from start to finish.
Here’s a simple guide on how to write a will of your own – online and for less than $100.
Calculate Your Assets
Start by taking an inventory of all the assets you have.
Most legal and experts agree that DIY wills are best suited for those individuals with assets totaling less than $2 million, the triggering threshold for inheritance tax.
Try an Online Will Site
There are many websites that will show you how to write a will and will even store your will digitally.
Some sites, like BuildaWill.com or LegacyWriter.com, will guide you through a questionnaire and insert your answers into a will template. The cost for this service? $19.95.
There are also computer programs you can download that will show you how to write a will.
These include Quicken WillMaker Plus for $39.99 and Suze Orman's Will & Trust Kit for $13.50. These software packages typically offer more legal information than websites.
If you think you need more in-depth coverage, try a site like LegalZoom.com, which begins with a questionnaire. After you’re done, they will then have a "specialist" review your answers for completeness.
These packages start at $69. LegalZoom’s will commentators are not lawyers and cannot give legal advice. They’re typically law students or legal researchers.
Each state has different rules for wills, so that any legitimate form or service must be tailored to your personal condition.
Choose Your Heirs
Making a will does not require a lot of legal knowledge, but you have a lot of personal decisions to make, such as to whom to leave your property and assets.
You can also choose alternates if your first choice does not survive you. Spouses typically make separate wills, and jointly owned assets simply automatically belong to the surviving spouse or co-owner.
Retirement accounts and life insurance with beneficiaries are generally not under the jurisdiction of a will.
Even low-income wage earners living paycheck-to-paycheck should learn how to write a will, especially if they have young children or adult dependents.
It doesn’t matter if you have assets or not. If you have children, they should be protected by a will.
Put Your Will In A Safe Place
Once you’ve learned how to write a will and printed it off, keep your will in a safe place. It’s a good idea to make several copies.
You want to keep one either with the executor or somewhere where the executor has access.
See also:
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SeniorRetireTips.com :: How to Write a Will