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Old Today, 02:21 AM
 
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Quote:
Originally Posted by Parnassia View Post
Not true. Not all states recognize holographic wills as valid. Some only accept them if specialized conditions are met. Be sure to check.

I downloaded a template of a will that was acceptable in my state of residence (to get the required boilerplate) but used it as a starting point and modified it as seemed necessary. Mine is extremely simple...no complicating business interests, partnerships, or extended family to deal with. Then had it reviewed by an attorney in my state before placing it on file with them.
there was not one attorney we could find that would sign off on someone elses document which was taken off the internet ... not one we called would do it ..

before we had all the issues with defective wills i was going to do my own and just have it checked .

there are lots of other minefields too with the other paper work , like power of attorney that you can hit .

the purpose of a power of attorney is to appoint an agent to act on an individual’s behalf with respect to financial matters in case such individual becomes incapacitated.

Many people innocently refer to this document as one that is “simple” to prepare. This could not be further from the truth. Firstly, New York State passed legislation effective September 2009 in an attempt to create a statutory form that would be uniformly accepted. This legislation was the result of tremendous abuse that was found in this particular area, with some appointed agents taking advantage of the disabled and elderly.

The new power of attorney law results in a much lengthier document, and significantly restricts the actual power given to the agent over financial matters. If transfers are to be made on behalf of the principal, a separate gift rider must be executed. The gift rider must specifically spell out the agent’s power to make gifts to himself/herself or to third parties.

Further, any additional powers beyond those enumerated in the statute, must be added to a modification section. Finally, while the law mandates banks, brokerage houses and other financial institutions to recognize the power of attorney, the form utilized must be statutory.

Accordingly, if someone decides to cut corners and download a form from the internet, this may result in big problems because if the form is not statutory, it does not have to be legally recognized.
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Old Today, 02:23 AM
 
Location: too far from the sea
20,064 posts, read 19,053,909 times
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My cousin has a boilerplate will and I should make one too. What do you mean that it has to be on file? Is it good enough just to make the will or does it also have to be on file somewhere, like with a lawyer or the state?
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Old Today, 04:39 AM
 
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one more thing i want to add is it is especially important to do things spot on in 2nd marriages wherer there are kids on both sides .

when we did ours , in front of witnesses we were asked certain questions .. nothing is required but good protocol calls for closing problem areas .

we were asked do we know what a will is ? are we on any medications ? are we being influenced by anyone ? etc ... these are all questions that can stop potential issues later .

when we did ours i had no idea about our states estate tax cliff ... when we did ours years ago our state had a much lower limit then the federal for passing to heirs . the thing we were not aware of is that if you go over by 5% you don't pay on the overage ...YOU LOOSE THE ENTIRE EXCLUSION AND PAY FROM DOLLAR 1

we were over and required special disclaimer trusts so we could pass 2x what we had ... had we never gone to do this i would never have known .
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Old Today, 06:58 AM
 
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Default My Three Cents

Quote:
Originally Posted by treeluvr View Post
I have been putting this off forever, but I know I need to make a will. I will be a pretty simple one, leaving most of my assets (assuming anything is left) to charities and making some provision for the care of my dog--if she survives me. I'm not anywhere near wealthy, but I have a well-developed saving habit and may (or maybe not) be able to make a reasonable contribution to a couple of causes I believe in. And, there are relatives that I am not interested in enriching.

I doubt I need a sit down with an estate lawyer, but I've been looking a some of the online sites that say they will help with will and health directive preparation. I imagine they would be fairly inexpensive and adequate, but, I don't know anyone who has used an online site for this sort of thing. Or maybe there is some reason it is better to get an estate lawyer?

My question: have you used an online legal site to prepare a will? What was your experience?



You would be surprised how many relatives one has when you win the lottery or die and leave a sizable estate. Everybody has kin. What you are suggesting is to ignore your kin and give all that you own to strangers. And to a dog keeper for Wolfie. Do you see where I am coming from?



I would seek counsel. An on-line service isn't going to guarantee that your wishes are carried out.
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Old Today, 07:53 AM
 
Location: Central Florida
2,048 posts, read 2,675,662 times
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I went to law school. One of the things I learned there was never to try to do my own will -- you don't know what you don't know. On the surface, it looks pretty simple, but it's not.

I don't try to do my own dental work, either. There are things that need to be left to the professionals.
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Old Today, 07:57 AM
 
Location: Somewhere
1,402 posts, read 1,886,256 times
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Quote:
Originally Posted by mathjak107 View Post
states that do not allow holographic wills .

Alaska, Arizona, Arkansas, California, Colorado, Idaho, Kentucky, Louisiana, Maine, Michigan, Mississippi, Montana, Nebraska, Nevada, New Jersey, North Carolina, North Dakota, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia and Wyoming.Alabama, Delaware, Florida, Georgia, Illinois, Iowa, Kansas, Massachusetts, Minnesota, Missouri, New Hampshire, Ohio, Oregon, Rhode Island, Vermont and Wisconsin.
https://www.nycourts.gov/courts/7jd/.../probate.shtml
From what I see online it is only Alabama, Delaware, Florida, Georgia, Illinois, Iowa, Kansas, Massachusetts, Minnesota, Missouri, New Hampshire, Ohio, Oregon, Rhode Island, Vermont and Wisconsin that DO NOT allow holographic wills.

All the other one's you mention before those states do accept them however each state may have their own criteria for holographic wills in order to be valid.
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Old Today, 08:05 AM
 
Location: SoCal
13,768 posts, read 6,534,991 times
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Quote:
Originally Posted by WellShoneMoon View Post
I went to law school. One of the things I learned there was never to try to do my own will -- you don't know what you don't know. On the surface, it looks pretty simple, but it's not.

I don't try to do my own dental work, either. There are things that need to be left to the professionals.
Itís not the same. I hear this brought up many times. Physically you canít do it. Not a good analogy.
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Old Today, 08:06 AM
 
Location: SoCal
13,768 posts, read 6,534,991 times
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Quote:
Originally Posted by NewbieHere View Post
I would get the free nook will from the library. Iíve looked at this software before, must be debugged by now.
I meant Nolo book.
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Old Today, 08:08 AM
 
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Quote:
Originally Posted by NewbieHere View Post
I meant Nolo book.
nothing is ever debugged ... court rulings change , laws change and interpretations change ...
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Old Today, 08:09 AM
 
Location: SoCal
13,768 posts, read 6,534,991 times
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Quote:
Originally Posted by mathjak107 View Post
nothing is ever debugged ... court rulings change , laws change and interpretations change ...
I think they updated every year.
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