Write a Will

The one interesting fact that stood out from my reading of NOLO’s website (http://www.nolo.com) was that a living will bears no relation to the conventional will or living trust used to leave property at death. It opened my mind to two facts:

1. I must make a living will (&/or advance directive) for end-of-life planning, and
2. I must also make a conventional will (&/or living trust) for post death wish declaration

The living will should really belong to #5. “Medical - Plan for Medical Needs“in my list of things to do towards end of life planning. I have included it under #2. “Legal - Write a Will and Advance Directives” since I am hoping to pay the same lawyer for both types of will.

So let’s think conventional “will”. FindLaw (http://forms.findlaw.com/last-wills_forms.html?xy=C-QT-1000 ) says, “A will is an important legal document that allows you to express your preferences about how your estate should be handled after your death.

Even those with modest assets should have a will to protect loved ones and ensure assets are allocated properly.”

There are many sites that claim to make a will for you online. Or you may choose to download a form, customize it, and make it official. There is good information on NOLO (http://www.nolo.com/legal-encyclopedia/faqEditorial-29041.html;jsessionid=7B6F3D5598B36A08712216FB4D2E0F91.jvm1#0 ).

The key takeaways are:

• If I don’t make a will and die, state law will determine what happens to my property. Generally, it will go to my spouse and children, or to other closest relatives, or to the state based on who is available to inherit it
• if the other parent is unavailable or unfit then a court will determine who will care for your children and their property

Same-sex couples need to be extra careful in planning since the surviving partner will not inherit anything (unless you live in California, Connecticut, Maine, New Jersey, and Vermont).

It’s time to explore those online forms now. I am hoping to be able to avoid paying a lawyer in writing my will.