It is something everyone needs and we all know we should have, yet the majority of Americans fail to make a will. In most cases, people want to make a will, they just never get around to it. The results are often tragic. For example, the person who was dependent on the deceased may be left without property or income when the deceased person’s estate passes to the next of kin under the laws of intestate succession.
For parents with minor children, it is much better to name a guardian for your child and the child's property in your will. Otherwise, a guardian will be chosen by the court. If you die without a will, the person appointed as executor of your estate, and therefore given authority to oversee all your property and final affairs, may not be someone you trust. There are a myriad of other problems caused by failure to make a simple will.
Making a basic will does not take a lot of time, as shown by the author of the Quick & Legal Will Book. If you have an existing will but want to replace it with a new will, the Quick & Legal Will Book explains how to do that. Codicils are also covered.
If you want to disinherit an heir, leave your estate to your children in unequal shares, or forgive an outstanding debt at the time of your death, this book provides information on how to address these issues in your will. The Quick and Legal Will Book provides an overview of related estate planning issues such as probate, living trusts, estate taxes, marital property, second marriages, and living wills. The Quick & Legal Will Book is also available in a Kindle edition for your PC, iPad, and other devices.
Do You Need a Living Trust?
Some people can benefit greatly from including a living trust in their estate plan. Other people do not need a living trust. Whether you need a living trust is entirely dependent on your own unique circumstances, the type and amount of property in your estate, and what you want to accomplish with your estate plan.
When deciding how to plan your estate, the first step is to consult an attorney. An attorney can advise whether you should make a living trust. If you do need a living trust, it doesn’t need to be expensive. While it is preferable to have an attorney prepare your living trust, you can make your own living trust with the right resources.
Make Your Own Living Trust includes a CD ROM with fill in the blank living trust forms and step by step instructions on how to prepare and fund your living trust. Numerous tear out will and trust forms and estate planning worksheets are included.
Make Your Own Living Trust also explains the process of what happens after the maker of a living trust, called the grantor, dies. It covers the duties of a successor trustee, how the successor trustee transfers property to final beneficiaries of the trust, filing tax returns, and related trust administration issues.
When you establish a living trust as part of your estate plan, your will should be consistent with the distribution plan outlined in your living trust. A new will, called a pour over will is typically made at the same time as a living trust. Make Your Own Living Trust explains how to ensure your will does not conflict with your living trust.
Ideally, you should have an attorney prepare your will, living trust, and other estate planning documents. However, if you have to make an estate plan on your own, Make Your Own Living Trust is one of the most comprehensive guides available on the drafting and preparation of living trusts.
Estate Planning Software
To buy software to make your own will, living trust, power of attorney, and other estate planning documents, see our Estate Planning Software page.
Have Your Will Reviewed by a Lawyer
Prior to executing a will, consult an estate planning attorney about your estate and applicable state laws. Failure to have your estate plan reviewed by an attorney can have serious financial, tax, and legal consequences for your heirs and beneficiaries. For more information, see Wills and Trusts. For information about laws that apply to making a will in your state, see State Laws.
Quick & Legal Will Book by Denis Clifford. Written by an attorney who specializes in estate planning, the Quick & Legal Will Book features fill in the blank will forms on CD-ROM so you can make a will in the same amount of time it takes to watch a movie
Make Your Own Living Trust by Denis Clifford. Written by experienced estate planning lawyers, this guide covers all the essential issues you need to consider when making a living trust, including how to handle bank accounts, safe deposit boxes, stocks, real estate, businesses, and other types of property.
Get It Together by Melanie Cullen. This perfect planner allows you to gain peace of mind. It explains how to store your will, living trust, advance health care directives, last wishes on funeral and other final arrangements, guardianship for minor children, caretaker for pets, life insurance documents, employment information, other financial records, and much more. If you are making a will or living trust, use Get It Together at the same time. Whether you are leaving on a trip, facing a serious illness or just want to put your affairs in order, this planner is highly recommended.