Posted on 02/24/2014 5:54:34 AM PST by knarf
I've come to a time in my life when I should make some decisions about what happens when I'm gone ...
A revocable living trust is the way to go. We finished ours using a free family financial planning ministry thru our church.
You can do it yourself if you’re willing to do the legwork.
it’s all in the titling, one size does not fit all situations, your situation will be different that anyone elses
yes, screwed up trusts and trusts that are never funded cause a lot of issues
the trust thing was in my opinion a fad, it was helpful in certain cases but it became a type of keeping up with the Joneses thing
all this being said, you should pay an attorney for an opinion
make a list of everything you own
it’s not that hard, it’s not that scary seeing a will and estate lawyer. Most of them are boring and conservative which is what you want. And they could save your loved ones a headache when you fall out.
do yo mean “advance directive” re: what you do and do not want for lifesaving measures? You should be able to find a fill in the blank one on line somewhere.
no, the will will not be looked at until you croak, so medical directions in the will won’t be noticed until too late
the thing is, as you must know, these things vary from state to state
It's not a big secret until you die. Each of my have a copy. My daughter has the original. My attorney has a second original.
Have it your way, good luck
If you can’t afford legalzoom you ought naught worry about disposition of assets.
In Pa., it is sufficient for a seamless transition if both names are documented .. i.e. ..
The deed, bank account(s), cars.
I (we) have a very simple life and very little baggage
No investments and etcetera's.
Even the gas well royalties are in both of our names
Not can’t ... just don’t think I NEED to.
Good. I know it is hard for folks to come to the realization that perhaps their ‘affairs’ are not completely in order. Sometimes the discussions are difficult because people do not want to think about final things.
It saves family and friends a lot of confusion and stress if all of this is handled well before hand.
I don't recommend legalzoom or any of these DIY types of things with wills/trusts, especially trusts. They are assembly line one size fits all solutions for problems that are not one size fits all.
I should add ... I am; me and my wife with a house and a couple of acres, no bank account, investments .. nuthin' ... just us living.
Those couple of acres could be worth a bit of money depending on where you live.
What you MUST have are the following
1. If you want to avoid probate, you probably need a trust and pour-over will. Again, I don't know how it is in PA. Wills alone do not avoid probate in my state. They direct probate court and make it easier for people to deal with probate.
2. If you don't want to spend the money for a trust, a will should get the job done. Probate difficulties vary by county here in MI. In a place like Wayne County, avoid it like the plague. In some other counties, it's no big deal.
3. You MUST have a patient advocate form and a power of attorney. They may be called other things like medical directives, etc. One directs what kind of treatment you wish if you are incapacitated and who you want to make that decision if they are not spelled out. Terri Schiavo case could have been avoided with a patient advocate. The power of attorney directs who you wish to make financial decisions if you are incapacitated.
Can't speak for your state, but they are completely different forms here - and every other state I have ANY familiarity with.
yeaaaaah. it’s probably still called the same thing state to state. this is not a consultation. it’s an observation with terms of art..........
If you can do it, a living trust for the big stuff like home, investment accounts and bank accounts. Then a pour over will for what is left. You want to keep as much as you can out of probate and away from lawyers. If you hate your heirs then do nothing and let them fight it out.
LIVING WILL
LIVING WILL DECLARATION AND DIRECTIVE TO PHYSICIANS OF **
I, ** , willfully and voluntarily make known my desire that my life not be artificially prolonged under the circumstances set forth below, and, pursuant to any and all applicable laws in the State of Colorado , I declare that:
1. If at any time I should have an incurable injury, disease, or illness which has been certified as a terminal condition by my attending physician and one additional physician, both of whom have personally examined me, and such physicians have determined that there can be no recovery from such condition and my death is imminent, and where the application of life prolonging procedures would serve only to artificially prolong the dying process, I direct that such procedures be withheld or withdrawn, and that I be permitted to die naturally with only the administration of medication, the administration of nutrition and hydration, or the performance of any medical procedure deemed necessary to provide me with comfort, care, or to alleviate pain.
2. If at any time I should have been diagnosed as being in a persistent vegetative state which has been certified as incurable by my attending physician and one additional physician, both of whom have personally examined me, and such physicians have determined that there can be no recovery from such condition, and where the application of life prolonging procedures would serve only to artificially prolong the dying process, I direct that such procedures be withheld or withdrawn, and that I be permitted to die naturally with only the administration of medication, the administration of nutrition and hydration, or the performance of any medical procedure deemed necessary to provide me with comfort, care, or to alleviate pain.
3. In the absence of my ability to give directions regarding my treatment in the above situations, including directions regarding the use of such life prolonging procedures, it is my intention that this declaration shall be honored by my family, my physician, and any court of law, as the final expression of my legal right to refuse medical and surgical treatment. I declare that I fully accept the consequences for such refusal.
4. If I am diagnosed as pregnant, this document shall have no force and effect during my pregnancy.
5. I understand the full importance of this declaration, and I am emotionally and mentally competent to make this declaration and Living Will. No person shall be in any way responsible for the making or placing into effect of this declaration and Living Will or for carrying out my express directions. I also understand that I may revoke this document at any time.
I publish and sign this Living Will and Directive to Physicians, consisting of 3 typewritten pages, on *date* , and declare that I do so freely, for the purposes expressed, under no constraint or undue influence, and that I am of sound mind and of legal age.
Declarant’s Signature
Printed Name of Declarant
On * , 20* , in the presence of all of us, the above named Declarant published and signed this Living Will and Directive to Physicians, and then at the Declarant’s request, and in the Declarant’s presence, and in each other’s presence, we all signed below as witnesses, and we each declare, under penalty of perjury, that, to the best of our knowledge:
1. The Declarant is personally known to me and, to the best of my knowledge, the Declarant signed this instrument freely, under no constraint or undue influence, and is of sound mind and memory and legal age, and fully aware of the possible consequences of this action.
2. I am at least 19 years of age and I am not related to the Declarant in any manner: by blood, marriage, or adoption.
3. I am not the Declarant’s attending physician, or a patient or employee of the Declarant’s attending physician; or a patient, physician, or employee of the health care facility in which the Declarant is a patient, unless such person is required or allowed to witness the execution of this document by the laws of the state in which this document is executed.
4. I am not entitled to any portion of the Declarant’s estate on the Declarant’s death under the laws of intestate succession of any state or country, nor under the Last Will and Testament of the Declarant or any Codicil to such Last Will and Testament.
5. I have no claim against any portion of the Declarant’s estate on the Declarant’s death.
6. I am not directly financially responsible for the Declarant’s medical care.
7. I did not sign the Declarant’s signature for the Declarant or on the direction of the Declarant, nor have I been paid any fee for acting as a witness to the execution of this document.
Signature of Witness
Printed name of Witness
Address of Witness
Signature of Witness
Printed name of Witness
Address of Witness
Signature of Witness
Printed name of Witness
Address of Witness
County of }
State of }
On * , 20* , before me personally appeared * , the Declarant, and * , the first witness, * , the second witness, * , the third witness, and, being first sworn on oath and under penalty of perjury, state that, in the presence of all the witnesses, the Declarant published and signed the above Living Will Declaration and Directive to Physicians, and then, at Declarant’s request, and in the presence of the Declarant and of each other, each of the witnesses signed as witnesses, and stated that, to the best of their knowledge, the Declarant signed said Living Will Declaration and Directive to Physicians freely, under no constraint or undue influence, and is of sound mind and memory and legal age and fully aware of the potential consequences of this action. The witnesses further state that this affidavit is made at the direction of and in the presence of the Declarant.
Signature of Notary Public
Printed name of Notary Public
Notary Public
In and for the County of * ,
State of * .
Have the witnesses sign every page or initial as required by State.
God BLESS you, trussell
He told me, gas well royalties being relatively new to the scene, probate is attatching an approximate $7,500.00 p/acre value in figuring estate taxes.Not necesarily part of trust and wills, but valuable information to those that have royalties
Also ... the checks should be established as a joint check (mine is)
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