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Joined: Apr 2006
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Campfire Regular
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OP
Campfire Regular
Joined: Apr 2006
Posts: 632 |
i am 39 years old, and don't have a will yet. i know that i need to have one done, for both me and my wife. i have two kids. having no experience with this, can you give any advice about what i should do as far as stating what i want in the will. can any attorney do one, and about how much will it cost. thanks for any information in advance.
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Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
If you have a minimal estate and do not need to consider estate planning for tax purposes, the below is a very cheap way to execute a valid and binding Will.
There are others here who have vast more experience in this field than I, as I always refer my divorce clients to others for the preperation and execution of their wills.
The problem Mr Powell is that your a cop so it may be tough getting past the "sound mind" part!! grin
Please see below:
Holographic Will
A will written entirely in the handwriting of the Testator is called a "Holographic Will". Thus, a single piece of paper that says nothing more than "This is my last Will. I give all that I own at my death to XXXXX", and that is dated and signed, is sufficient to be a valid Will. However, if any part of this writing is not in Testator's own handwriting, it will be held invalid. In addition, upon Probate of the holographic will, the court will require proof of a person familiar with the Testator's signature to proof the genuineness of the document. A holographic will does not have to be witnessed.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Apr 2006
Posts: 632
Campfire Regular
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OP
Campfire Regular
Joined: Apr 2006
Posts: 632 |
i am not a cop. you may have me confused with someone else, but thanks for the reply.
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Joined: Jul 2006
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Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
I did confuse you Mr. Powell. Sorry. If you need more, I'm happy to offer you some further help as will some of the other fine lawyers more versed in this field of law. You may wish to go PM though as questions about your assets and wealth need be addressed to properly advise you.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: May 2003
Posts: 48,411
Campfire 'Bwana
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Campfire 'Bwana
Joined: May 2003
Posts: 48,411 |
That holographic testament will probably be valid in most states, but it's worth spending a couple of hundred bucks to get a simple form will done by a lawyer in your state, if you have enough assets to worry about it in the first place.
Proudly representing oil companies, defense contractors, and firearms manufacturers since 1980. Because merchants of death need lawyers, too.
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Joined: Apr 2006
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Campfire Regular
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OP
Campfire Regular
Joined: Apr 2006
Posts: 632 |
a follow up question. i will inherit some land from my father. approximately 120 acres. i do not intend to ever sell this land, and when i die, i intend to leave it to one of my children, probably my son. i do not wish for him to ever sell it either, as this is something that i know that my dad worked hard for. is there any way to specify this, and make sure that it is not sold after i die?
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Joined: Aug 2004
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Campfire Greenhorn
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Campfire Greenhorn
Joined: Aug 2004
Posts: 36 |
Talk to a lawyer. It will probably be cheaper than you think and it could help you avoid some pitfalls that could come back to bite your loved ones.
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Joined: May 2006
Posts: 2,890
Campfire Regular
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Campfire Regular
Joined: May 2006
Posts: 2,890 |
Just a few general thoughts for you before the experts speak. First, use an attorney. Don't use software or do-it-yourself type kits. While any attorney can prepare a will, make sure you to use an attorney that is experienced in drafting wills. This attorney must be someone and with whom you are comfortable talking frankly about your intentions and the details of your particular situation. Costs vary widely so don't be afraid to ask for a price up front.
abusus non tollit usum
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Joined: May 2006
Posts: 2,890
Campfire Regular
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Campfire Regular
Joined: May 2006
Posts: 2,890 |
As to the land, you probably would want to set up a trust rather than to devise the land to your son. A life estate could also work.
abusus non tollit usum
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Joined: Oct 2000
Posts: 9,009
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2000
Posts: 9,009 |
Just spend the money and have an attorney draft it. Holographic wills are not valid here in Washington and might not be in your state. Plus you can have a power of attorney done at the same time. It will determine who can do what with your money and stuff if you are ever incapacitated. Also if you are in a persistent comatose state, do you want to be unplugged or be kept on life support?
There's a lot to consider, and an attorney will help you identify and solve problems you haven't even thought of.
Good luck! (and yes, I'm an attorney)
Wade
"Let's Roll!" - Todd Beamer 9/11/01.
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Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2005
Posts: 13,760 |
A current will? It will save your family much heartache upon your demise. Further, I offered when I was in private practice, and recommend today: Make a will, a living will, power of attorney, and designate a medical proxy. Someone who can be YOUR mouthpeice if you're brain is peanut butter but your still technically alive. Where I practiced, a simple will (ie no trusts, no abnormal tax problems, plus a living will and medical proxy costs less than $750. Often as little as $400. Then update your will as you see fit. That will cost even less, but its money well spent compared to having your family battle over your things or debating in court what your actual wishes would be should you be on life support. Our State Bar has a nice pamphlet handout.
War Damn Eagle!
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Campfire Kahuna
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Campfire Kahuna
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i am not a cop. you may have me confused with someone else, but thanks for the reply. Dang Isaac, I think you just left a sponge in that dude. Wait...that's a doctor.
The only thing worse than a liberal is a liberal that thinks they're a conservative.
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Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
I did think I was offering you some help. Oh Well! Your just getting in a dig b/c of the sound mind thing aren't ya?--grin
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Oct 2002
Posts: 96,121 Likes: 1
Campfire Oracle
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Campfire Oracle
Joined: Oct 2002
Posts: 96,121 Likes: 1 |
This one would be to easy.........
"Dear Lord, save me from Your followers"
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Joined: Jul 2006
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Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Oct 2002
Posts: 96,121 Likes: 1
Campfire Oracle
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Campfire Oracle
Joined: Oct 2002
Posts: 96,121 Likes: 1 |
You're just tired, we understand.
"Dear Lord, save me from Your followers"
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Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
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Thanks Scott. I trying to stay awake so I can learn how to bake a pecan pie!
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Oct 2002
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Campfire Oracle
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Campfire Oracle
Joined: Oct 2002
Posts: 96,121 Likes: 1 |
"Dear Lord, save me from Your followers"
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Joined: Oct 2004
Posts: 50,170 Likes: 2
Campfire Kahuna
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Campfire Kahuna
Joined: Oct 2004
Posts: 50,170 Likes: 2 |
I did think I was offering you some help. Oh Well! Your just getting in a dig b/c of the sound mind thing aren't ya?--grin I do appreciate the help, I just want to make sure the bill goes to the correct address.:)
The only thing worse than a liberal is a liberal that thinks they're a conservative.
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Campfire Tracker
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Campfire Tracker
Joined: Nov 2004
Posts: 6,237 |
I agree with the trust idea, but your father should have one in order to get the land to you with the least hassle. You need to do your research in a more appropriate place, 24CF just isn't going to cut it on this one. Look at Nolo Press here on the good old I-Net as a starting place for well researched books on the subject.
Ignorance is not confined to uneducated people.
WHO IS JOHN GALT? LIBERTY!
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