Answer by McLuvin
Best to get a lawyer!! Just to make sure that your wishes are carried out when you pass. I can't stress this enough!! Also you may consider giving the items at least some of them while you are alive so you can see the joy in your loved ones eyes
Answer by Robert D
You can write a will for free. Handwritten wills are legal, you might want to have it notarized just for more proof that it is valid. Reason I say this, my father in law just died, his girlfriend forged a will and it had to be dealt with.If you write a will make sure someone knows that it exists and where it is.
I am in the process of doing a living trust, that is about 1000 to $ 1500, pretty airtight, good luck
Answer by Tmess2
It depends upon the rules where you live. There are three separate issues as to expense.
First, there is the potential for estate tax. Unfortunately, the tax cuts passed in 2001 have the effect of making estate tax even harder to figure out. Basically, the "unified credit" (the non-taxable part of the estate) is being increased each year until there is no estate tax for one year. However, the following year, the law sunsets and we go back to the figure from 2001 which exempted approximately the first $ 600,000 from estate taxes. If you have a large estate, you may want to talk to an estate tax attorney to try to figure out what might happen.
Second, there is the potential for costs from probate courts and probate attorneys. In some states, these are set as small percentages (less than 10%) of the estate. Obviously, the bigger the probate estate, the bigger the fees. In other states, the amount of the fees is related to the activity in the estate, not the value. Depending on which type of state you are in, it might matter what you leave in the estate.
Third, there are the transaction expenses. My hunch is that there is not a substantial difference in the expense of transferring through the probate process and a non-probate transfer. Depending on the complexity of the will or the non-probate transfer, there could be additional legal fees, but my experience is that the charge for a basic will is not unreasonable.
You should talk your options over with your attorney, your accountant, and your financial advisor.
If you have significant assets, I would recommend against trying to do it yourself. You can get basic guides from do-it-yourself kits or internet sites, but they can't tell you what the traps are nor ask you the types of question that a lawyer would to make sure that the will accurately reflects your desire and will hold up in court.
Answer by Seriously?
While you are living you can also add the names as joint tenants with right of survivor-ship that way should something happen to you it rightfully belongs to persons of your choice without excessive taxes - speak with a financial advisor.
What do you think? Answer below!
Orignal From: Is it expensive to leave bonds and stocks and things of the like in your will?Can you do this without a lawyer
Post a Comment