"The Best Things In Life Are Free" -- Sung by Sam Cooke The moon belongs to everyone Best things in life they're free Stars belong to everyone They cling there for you and for me Flowers in spring The robins that sings The sunbeams that shine They're yours and their mine Love can come to everyone Best things in life they're free Moon belongs to everyone The best things in life, they're free Stars belong to everyone They glitter there for you and for me They are yours and me Flowers in spring The robins that sing Sunbeams that shine They're yours and their mine Love can come to everyone Best things in life they're free All of the good things Every one of the better things The best, best things in life They're free Writer(s): BROWN, HENDERSON, DE SYLVA Lets talk about free wills. Online wills. Free online wills. Or even cheap online wills. YES, you can do your own will for free. YES, you can get will forms online for free (or very cheap). Since they are free, they must be good right? At least the lawyer won't get my hard earned money, you might think. I just have to say this--the best will or estate plan is NOT free. It is not even "cheap and online". The will that you can write yourself or that you buy off the internet is not written by a lawyer. The law, in the area of wills and estate planning, is complicated. You are a very smart person, so I hope you wont fall for the promise of something being free or cheap as being the same as something being good for your needs! Especially in this area. I'll post the text of a recent article here, with the link here. By Rachel Hartman, Contributor
Writing down how to divide your assets is an essential start to estate planning that can be easily overlooked. More than half of Americans do not have a will, according to a 2017 survey by Caring.com. “Whether you are young or old, rich or poor, everyone can benefit from having a last will and testament,” says John P. Farrell, an estate planning and probate lawyer at The Farrell Law Firm in Marietta, Georgia. With a will in place, you’ll reduce the risk of family disputes later, as well as potentially high legal fees and tax consequences. Today’s online tools allow you to efficiently create a will. A quick search will lead to various websites that offer to help you draft a will in a fraction of an hour. However, before clicking through, it’s important to evaluate the options available. Follow these guidelines to know when to use an online solution and when a different setup is a better fit. Know the options. There are essentially three ways to write a will. “You can prepare it yourself, use a do-it-yourself service or seek the assistance of an estate planner,” Farrell says. If you opt to draft a will on your own, you’ll want to make sure you have a solid grasp of your assets and can share detailed instructions regarding beneficiaries. Some retailers offer a will kit to help you think through the steps. If you use an online service, you’ll have access to software that guides you through the process. “You don’t receive any legal advice with this option,” says Tim Hewson, president of USLegalWills.com. Many of the online options allow you to make updates over time if your circumstances change. Asking for professional help to create a will gives you the opportunity to have an expert help you think through details. “This is likely to give you a well-drafted will, but it is the most expensive and least convenient approach,” Hewson says. Check the laws where you live. Before grabbing a pen or looking online for a service, research the legal requirements in your area. “When it comes to wills, the laws can vary widely from state to state and from country to country,” says Carole Brody Fleet, author of “Loss is a Four-Letter Word: A Bereavement Boot Camp for the Widowed.” In some states, the will can be handwritten, but other states require a typewritten version to make it valid. Some states require just two witnesses, while others ask that the will be witnessed, notarized and typewritten. Consider your estate. Your assets, as well as your family situation, can have a big impact on the considerations to be made when drafting a will. “There are many people who have written their own wills, and the estate has been fine,” Farrell says. “This type of estate planning, however, is usually suited for the most basic of estates, such as someone with a single piece of real estate and a small amount in investments.” How to Assemble Your Financial A-Team If you have a larger estate or heirs with certain medical conditions, you may benefit from a professional who can work with your situation. “If you have a child with special needs receiving government benefits and you want to set up a trust for them so that their inheritance doesn’t negatively impact their benefits, you should probably seek legal advice,” Hewson says. You might also opt for an attorney if you want to reduce your exposure to probate fees, which are generally charged when the will is reviewed to make sure it is valid. “One common strategy is to move your assets into a revocable living trust so that they are not subject to probate fees,” Hewson says. An estate planner could help you sort through the costs involved with setting up a living trust to see if it is a financially smart move. “An online service would not be able to manage your assets in this way,” Hewson says. Compare costs. A handwritten or typed will can be created at no cost. Many online services set a price at less than $100 for a will. “Most estate planners charge more than your average do-it-yourself service,” Farrell says. For help with a will, an attorney will likely charge several hundred dollars or more. If you write a will on your own, be specific when relating your wishes. “The costs may be on the back end if the process of probating your will becomes complicated because your will isn’t clear about where everything should go,” Farrell says. If you have a complex situation, you could ultimately pay less by using an attorney. “Part of the benefit of working with an attorney is that most attorneys have helped hundreds, sometimes thousands, of families work through decisions,” says Steven M. Zelinger, an estate planning attorney at The Law Office of Steven M. Zelinger in Philadelphia. A professional can offer insight into setting up guardians for minor children or appointing an individual to be in charge of the distribution of the estate. “There are often tax considerations the average person would not know about,” Zelinger says. Tell heirs where the will is located. Regardless of the way you draft a will, keep the final version in a safe spot and let others know about it. “At a time of loss, the last thing that your loved ones need is to go on a scavenger hunt for paperwork," Fleet says. "This is possibly the greatest gift that you can leave behind – the gift of organization.”
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AuthorJeff Sodoma, MPA, Esq. is a lawyer based in Virginia Beach, Virginia Blog!Hello, there! Welcome to my blog. I will use this blog as a platform for my writing. I will write about topics in the legal world, certainly, as well as everything else under the sun, because I have many interests (and viewpoints). All views expressed in this blog, unless otherwise noted, are mine alone. One of my interests is music--my wife believes that I should go on "Beat Shazam" because I know so many songs--and I will be, from time to time, analyzing song lyrics and how they relate to the legal world.
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