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It pays off in the long run to get professional help when you write a will. A poorly written will that
confuses your heirs can be far more costly to straighten out than the fees the lawyers charge to write a will. This small
investment in estate planning is your best insurance that things will happen the way you want them to when you are not around
to give instructions.
The best way to reduce legal fees is to prepare for the visit with the estate attorney,
also called a probate lawyer. This preparation will reduce the time spent with the lawyer, and therefore, reduce the cost
of the legal consultation. The decisions to make and ideas to consider in advance of your appointment include the approximate
value of your estate and who should share in it.
The following list, prepared in advance, will help
you make the best use of your time with the attorney:
Your legal name, social security number, date and place
of birth, and current address. Provide the same information for a spouse.
The names and addresses of immediate
relatives.
Information about deceased or former spouses.
The names and addresses of other individuals
and charities you want to remember in your will.
All of your assets, how they are owned and their approximate
value.
Your liabilities, in other words, your debts.
The name and address of the person you wish to
serve as executor (or executrix) of your estate. Make sure this person is willing and able to take on the duties.
The names and addresses of guardians you may wish to name for minor children.
The specific item, dollar amount
or percentage of your estate that you wish to give to each beneficiary.
Don’t forget your pets. Who will
care for them when you die? Refer to Estate Planning for Your Pets.
When your will is complete(*), sign only the original and keep it in a place that
is easy to locate. Your attorney’s office or fireproof safe at home is a better choice than a bank safe deposit box
because in many states, the safe deposit box is automatically sealed when the owner dies. It is also a good idea to give a
photocopy of your will to your executor and to keep one for your own files.
(*)In most states, a complete will
is a signed and dated will, witnessed and signed by two people who are not related to you, and it names the executor of your estate. Go to next page: Other Considerations
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