The only legal advice I can give you is: never solicit legal advice on the internet.
legalzoom.com
(and I am not a shill — but it is advertised with people I admire)
What state are you in?
and it is spelled “my beloved FRiend F R E E D U M B 2 0 0 3”
I know nothing about these people but I hear their ad on the radio shows all the time:
http://www.legalzoom.com/legal-wills/wills-pricing.html
I’d go with legalzoom.
For life insurance as long as your brother is the beneficary no will is needed for that part of the estate.
I am not an attorney, but it is my understanding that no matter what the will says-the proceeds from a life insurance policy go to the beneficary.
For bank accounts-put the accounts in your name but list your brother on the account as POD (I think that is rght)
POD-payment on death-your brother presents an official death certificate and the money is transfered to him.
I understand there are forms on line. But if you had an exact list of your possessions and left them all to your brother the will would be pretty simple to do. However, there are issues such as funeral expenses and so forth.
I just had my will updated an the fee was $350.00.
Yes, you could probably try to do it online ~ but why? Call around and ask lawyers how much they'd charge for a simple will.
That's what we did. :)
doyourownwill.com
A will legally can actually be simple and handwritten. You can have it notarized or have witnesses.
Unless you own alot of stuff I wouldn’t pay for one, and legalzoom charges for them.
Depending on what state you are in, you can probably make a handwritten will, but you need to research and make sure to word it properly, date and sign it with witnesses.
Check your state’s legal requirements.
Not an on-line option but maybe something that can be of some help to you.
I was too vague.
“I hereby request FreeRepublic.com’s administrator to ask for Freedumb2003’s Real Life name and address so I may beqeath upon said FReind all my assets.”
That should do it. We can file it with JR and that tidies everything up...
I just had mine done. I’d advise you go to an attorney. There are laws that are different in every state and an attorney will get it right the first time.
Also you need, a durable power of attorney [who does what to see that your *will* is carried out] and finally your advance directives [do you want to be kept alive using extraordinary means/end of life care]. Good luck, you’ll be glad you’ve buttoned that up.
Others mentioned LegalZoom and if you are looking on line it is a good place to go.
I did mine there as well as a medical directive. It was simple.
You can get a standard will form from legalzoom or you can simply hand write a will, dating it, affixing it as last will and testment of____, stating you are sound of mind, you fully comprehend the legality of the document, and one by one list the stipulations of your will. Then take it with two of your own witnesses that will attest to it, and sign it front of a notary public. Most notary’s will put the attests on it for you along with their signature and stamp. It’s better than passing on intestate (without a will) and it’s perfectly legal.
NOW, I am not a legal expert. But I’ve already signed all property and assets I own over to my children and discussed with them together those personal items that will belong to them which I have listed in my will. And I did all of this at the direction of a lawyer friend in a telephone visit, so I know it’s valid information...at least in Texas.
Just a note...if you have money in CD’s, there is way you can put your brother’s name on them that makes them his upon your death that doesn’t require them to go through probate to get them. Ask your bank how to do that. It’s been so long since I did that, I can’t remember exactly how they affix the names to the CD’s. (especially if they are gonig to be confronted with funeral expenses)
You do need a will. If you don’t have one; the money will go to the state in some states. No matter how simple it is; be sure spell out specifically everything you want to do.
Having said that, a probate will is usually pretty cheap, you should be able to get it done for no more than $500 most probate attorneys will charge $300 max if you really dont have a lot and it's all going to one person.
all I can tell you is, Don’t procrastinate about this.
My dear friend died unexpectedly about six months ago. She did not leave a will. Though she was doodling around on her computer and toying with various ideas there was nothing concrete, nothing signed, witnessed, and valid. The result has been a catastrophe. Everything she had worked for, all the plans and labor for a wonderful patriotic cause, is gone. People who were dependent on her professionally and personally are out of work, though her cause could have kept them working forever. Several people who have serious physical and/or emotional problems (Viet vets) have been thrown out of their home. Her adored animals have gone to shelters, her heirlooms dispersed, her family’s heritage lost. What a tragedy. So much suffering and loss, just because she didn’t get a will signed and a trust established.
While a will is a good idea, a revocable trust (or a pour over will into a trust)may be better to provide privacy and eliminate court probate and some legal fees.
Another thing to consider is a financial power of attorney so that someone you trust can handle your financial affairs if your are incapacitated. Also a tax power of attorney and a health power of attorney.
Upon death, your assets are transferred to others and title may need to be recorded. Different assets are transferred based on type of ownership. Assets in a trust can be transferred by successor trustee (brother or whoever you appoint)based on terms of trust rather than going through court probate.
Some assets transfer directly to beneficiary. Such as life insurance and IRA’s and 401k’s. Some assets such as IRA’s may be taxable to recipient and could be considered as a gift charities or given to lower income relatives.
Planning can minimize tax, even if not subject to the estate or gift tax.
You can do the will or trust from samples on the internet, however it may be worthwhile to get some good advice or have someone review it. Be sure to sign and date it in front of witnesses and a notary. Every state has different requirements. Make sure someone knows where the will or trust is located
I think a Will is a Great Idea! Gonna work on it tomorrow, I’m giving everything to my Ex-Wife so when I depart... she can start paying for everything she already has.
TT