Tuesday, November 22, 2005

Use your will power!

I got a mailing today from, of all places, one of our local hospitals giving out legal advice on wills. Is this really something that our hospitals should be concerned about? I guess so. Regardless, the information was good, so I thought I would plagerize a little and share the 5 "Don'ts" of Will Drafting with some side comments from myself:

1. Don't put it off until later. We are not promised tomorrow as my pastor always says (but when he says it, it actually sounds like God himself is saying it).

2. Don't do it by yourself. If I could only count the number of times someone has come into my office to probate the will of a loved one that was obviously done on Quicken Legal Pro and was obviously done wrong. Saving a few bucks by writing your own will may cost your relatives more bucks down the road. Seek out a qualified attorney and have your estate plans done right.

3. Don't rely on it solely. There are other documents that you may need in addition to a will. A qualified attorney can help you draft trusts, powers of attorney, medical directives, and other beneficiary documents that you may need.

4. Don't put it away and forget about it. Wills can expire. They are not meant to last forever. Children are born. New laws effecting estates are passed. Keep your will current. Its a good idea to change your will every 5 to 10 years.

5. Don't put it where no one can find it. Don't put it in the tupperware container under the bed. Put it in a fire-proof box or a safety deposit box and let the executor know where it is.

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