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Wills aren’t just for rich people. A last will and testament is a must for anyone with minor children. You also need a will if you have anything at all of value – even sentimental value, like your wedding ring, a favorite coat or a treasured book collection. In the event of your death, a will tells the state (and your family) who should take care of your minor children, and who should get what, in terms of your assets. Wills can also help reduce family squabbling and the drama of grieving relatives arguing over how to divide your things. If you don’t have the money to pay an attorney to create a will, for now use software programs or buy the ready-made wills found in office supply stores such as Staples, OfficeMax and Office Depot.
For online forms or step-by-step software to make a will, go to:
- www.nolo.com (800-728-3555)
- www.ezlegal.com (800-822-4566)
- www.legalzoom.com (323-962-8600)
- www.uslegalwills.com (866-317-9306)
Seven out of 10 adults in the U.S. don’t have a will. That’s a big financial mistake. If you die without a will, the courts in your state decide what happens with your assets – however large or small they may be. The courts can also determine who should take custody of any minor children you have. And the courts’ decisions may be contrary to your wishes. Creating a will doesn’t have to break your budget. An attorney can help you draw up a basic will for as little as $250 to $500. The price depends on where you live and the complexity of your situation. A cheaper option is to create a will online. At legalzoom.com, you can create a standard will and testament for $59. Also, Buildawill.com offers basic wills online for just $20. If you do use an Internet company, after you create your will, be sure to get it notarized and signed by at least two witnesses.
Don’t procrastinate! Draw up a will at once. Save money, if you must, by creating the will yourself with a store-bought form. But I still recommend having an attorney give it a final look to make sure it conforms to your state law. Also, remember to have two witnesses sign your will, and get it notarized by a notary public who can put a seal on the will. To get motivated about making your will, think about your loved ones and fill out the following form below. You can also get this at www.themoneycoach.net. Go to the downloads section of the “Free Info” area, and then click on the proper PDF.
Get the Will to Draw Up a Will
I need an updated will because I would like to give my _________ (insert item) to ________________________ in the event of my death. (insert friend or relative’s name)
I would also like to leave my _______________ to ______________ . (insert item) (insert name)
I need a will because I have a minor child (or children) named ______________________________________________________
(insert name(s) here)
And to be a responsible parent, I want to appoint a guardian to ensure his/ her (or their) well being in my absence.
I need a will because upon my death, I wouldn’t want to burden ______________ , my ____________________________________ (insert name) (insert relationship, i.e. sister, husband, etc.) with decisions that I should have made while I was alive.
Next – Week Number 5 which is just a short 3 day week, hooray!
