Author Topic: Creating a Will  (Read 2856 times)

NW Girl

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Creating a Will
« on: November 19, 2013, 04:23:20 PM »
I am trying to figure out if there is a mustachian way to create a will, or if it makes the most sense to hire an attorney and consider the money well spent.  Has anyone used Legalzoom or a similar service to create a will?  If so, what was your experience? 

At this time, our finances and family situation are fairly straightforward.  We do have two elementary-aged kids so we would need to provide guardianship for them in the case that we both passed away.

Thanks in advance for your thoughts!

sunshine

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Re: Creating a Will
« Reply #1 on: November 19, 2013, 04:45:32 PM »
Ours cost $150. At the time it set up guardian, trustee and the kids not getting assets in full until 25. It was money well spent in my opinion. I figured it was worth paying for to make sure it was done right.

auntbecky

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Re: Creating a Will
« Reply #2 on: November 19, 2013, 05:06:51 PM »
We did a will with guardianship and trustee, set up living wills, and power of atty all with a family lawyer friend for $300.  I never did look into other options at the time and thought we were getting a decent value.  I don't feel differently now, but I think I would try to be more informed myself if/when we do it again.

bevathome

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Re: Creating a Will
« Reply #3 on: November 19, 2013, 05:16:50 PM »
We used LegalZoom for our wills and it worked out fine for us.  The instructions were easy to follow and our situation isn't complicated.  We just needed to get the wills notarized in front of 2 witnesses and fax them back.

As our assets increase, we'll probably use a lawyer to create a trust.

MrsPete

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Re: Creating a Will
« Reply #4 on: November 20, 2013, 11:55:48 AM »
If you have a simple situation -- married couple, children belonging to the two spouses, no property owned jointly with other family members, no trusts, etc. -- you can get an inexpensive will. 

Be prepared to reconsider your will every couple years.  For example, if we'd both died when our children were toddlers, it'd be completely reasonable for the guardians to have received the life insurance, profits from your house, etc.  But if we both died now -- now that we have a high school junior and a college student -- I'd want the guardians to receive some money to "finish" raising our high schooler, but I'd want the kids themselves to have the bulk of the money -- but perhaps with some strings attached so they couldn't go out and buy really nice cars and then be unable to pay for college. 

 

Wow, a phone plan for fifteen bucks!